The Decentraland metaverse, a 3D virtual reality platform powered by the Ethereum blockchain, has been purchased by the Plein Group.
Decentraland’s own cryptocurrency, Manas, was used to buy the property, which was valued at approximately $1.4 million at the time of the transaction. This alleged estate, dubbed Plein Plaza, is situated on 65 Decentraland parcels, or about 176,528 square feet in the real world, and has a direct view of one of the Genesis Plazas. It is framed and accessible from two roads.
Using the alias Bug$ Bunny and Jason Rosenstein, founder and CEO of NFT auction house and marketplace Portion, the fashion group was able to complete the transaction. They will also be involved in the estate’s development.
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The Plein Plaza project, which will include shops, entertainment, a museum, a hotel, and luxury residences, will also include digital visual artist Antoni Tudisco.
A proud Plein said he was pleased to have taken advantage of the “opportunity so early in the development and establishment of this new universe” to “own a portion” of it.
I personally believe in this new dimension of human interaction, so we’re there to stay and develop and share the creativity of all our brands — Philipp Plein, Plein Sport, and Billionaire — as well,” he added.
The German designer was an early adopter of the digital world’s capabilities and tools. Last year, the company began accepting a wide range of cryptocurrencies as payment methods in both its brick-and-mortar locations and its online store.
At the Milan headquarters of the fashion house Philipp Plein last month, the designer showcased a collection of monster sculptures that were originally intended to be NFT-only art, but were later made into physical objects and will be on display at Art Basel Miami in December 2017.