Tokens.com, a publicly-traded cryptocurrency and blockchain investment business, has announced a groundbreaking agreement to purchase a 50% interest in metaverse real estate developer Metaverse Group for more than $1.6 million.
The deal is anticipated to benefit Tokens.com. According to reports, this was the most expensive acquisition ever made by a virtual real estate company. By creating asset possibilities for public retail investors looking to acquire exposure to nonfungible tokens (NFTs) and decentralised finance (DeFi) assets.
Tokens.com stands out owing to its use of blockchain technology
Metaverse Group provides services similar to those provided by a typical real estate business. That includes property acquisition, development, and management, as well as marketing and promotional services. The organisation, on the other hand, stands out owing to its use of blockchain technology, gaming, and NFTs. In addition to a slew of other technologies that make up the metaverse.
The precise meaning of the metaverse is still opaque, for the time being. However, it is most likely to be a three-dimensional virtual world in which users may interact, socialise, and advance. Fortnite and Roblox. As well as the Ernest Cline novel Ready Player One, have given us some glimpse into this universe.
The Metaverse Group is the owner of numerous prestigious plots of land and assets in some of the world’s most popular metaverse games. Including Decentraland, The Sandbox, and Somnium Space. Decentraland’s Crypto Valley serves as the company’s worldwide headquarters.
“How advertisers and brands sell their products will be vastly different thanks to the Metaverse”. As more people flock to these virtual cities, the property becomes more valuable due to its potential to reach a new global audience. By employing the same methods as physical real estate managers, Metaverse Group has the potential to be a significant landlord and developer.”
Facebook is advancing its plans to construct a metaverse
Facebook announced the establishment of a $50 million research and development fund last month. Advancing its plans to construct a metaverse. Within a decade, the business hopes to build a full-fledged virtual environment with a wide range of products and services.
To realise this virtual vision, the company is hiring 10,000 additional European Union employees for positions ranging from specialist engineers to virtual architects.