Canadian Crypto investor buys $2.4 million in virtual real estate

An unusual real estate transaction happened this week as a Canadian bought 6,090 virtual square feet in Dectraland to open a virtual clothing store. The cost was $2.4 million USD (Roughly,  $3 million CAD).

This sale takes place in a metaverse or a virtual reality space and is said t be the next big wave in technology. Think of it as a persistent virtual world where people can hang out and do what they do in the real world, plus so much more.

After Facebook announced it was changing its name to Meta to reflect its changing goals these virtual spaces have begun popping off. Only time will tell how worthwhile the investments will end up being.

Source: Reuters

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