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Metaverse Investors Talks About Decentraland And Sandbox In Comparison To Manhattan in the 1800s

Investors are currently comparing the metaverse sector to the prime New York real estate hundreds of years ago.

Furthermore, during a report from Markets Insider, Lorne Sugarman, CEO of virtual real estate company Metaverse Group. He explains how the login of paying money for buying digital land on virtual reality platform MANA.

“We think the Fashion District purchase is like buying on Fifth Avenue back in the 1800s…”
“or the creation of Rodeo Drive…”

More so, The Fashion District is where users can shop for virtual clothes from real brands like Ralph Lauren, Gucci or Prada in Decentraland. So, Sugarman considers Decentraland’s real estate as to be able to maintain it’s scarcity. Of course, due to the
he virtual world as a decentralized autonomous organization (DAO).

“Because Decentraland is a DAO, or a community, if they were ever going to release new land,..”
“they would have to get all the currency holders, as well as all the landholders,…”
“to vote that they had agreed to that. The community isn’t going to want us to harm…”
“our value and our land and currency so I don’t believe that’s something that would happen…”

“But if that were going to happen, it would have to be for a very good reason.”

Additionally, Janine Yorio, co-founder and CEO of metaverse developer Republic Realm joins the discussion. Then, States the group has the equivalent of an entire city in the virtual world The Sandbox (SAND) to build something immersive.

“We want to buy land and build things on it. The only way the metaverse becomes interesting…”
“is if there are things to do and people to see and places to go when you get there.”

Lastly, the Republic Realm has many records after completing a $4.3 million purchase of land on The Sandbox. Of course, this is the biggest acquisition of digital real estate on records.

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