Tokens.com’s Subsidiary Closes the Largest Metaverse Land Acquisition in History

Tokens.com Corp.  a publicly traded company that invests in revenue-generating crypto assets linked to Decentralized Finance (“DeFi”), Non-Fungible Tokens (“NFT”) and metaverse real estate is proud to announce the acquisition of a 116 parcel estate in the heart of the Fashion Street district within Decentraland via its subsidiary, Metaverse Group. Decentraland has declared this to be the largest metaverse land acquisition to date.

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“Fashion is the next massive area for growth in the metaverse”

The estate will be developed to facilitate fashion shows and commerce within the exploding digital fashion industry. Metaverse Group also plans to establish partnerships with several existing fashion brands who are looking to connect with new audiences and expand their ecommerce offerings within the metaverse. Metaverse Group will collaborate with Decentraland to curate fashion projects and events on the estate.

“Fashion is the next massive area for growth in the metaverse,” said Sam Hamilton, Head of Content at the Decentraland Foundation. “So it’s timely, and very exciting, that Metaverse Group has made such a decisive commitment with this land purchase in the heart of Decentraland’s fashion precinct.”

Each parcel purchased in this transaction is equivalent to 52.5 square feet, making the acquisition equivalent to 6,090 square feet of land. The acquisition was purchased for 618,000 MANA, an Ethereum based token used as currency in Decentraland.

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“We are happy to make history by closing the largest public metaverse land acquisition to date. These assets will complement the existing portfolio of metaverse real estate already held at Metaverse Group. We are excited to have our subsidiary successfully close this landmark digital real estate transaction,” said Andrew Kiguel, CEO.

Earlier this year luxury brand giants such as Gucci, Burberry, and Louis Vuitton entered the metaverse through their designer NFTs. Nike, among other brands, has also announced it will be releasing digital sneakers in “Nikeland”. Through Metaverse Group, Tokens.com will be further developing Fashion Street and bringing new opportunities for fashion brands to showcase new digital merchandise in the metaverse.