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As the world prepares for the new era of a virtual world, several groups are making giant strides in becoming early metaverse investors. In the last 6 months, several companies have invested millions of dollars into the development of metaverse projects. Developers have received huge funding to advance the new age of Web 3.0 and the virtual world.

But creators are not the only ones on the big money chain in the metaverse. Consumers are also entering the metaverse with huge amounts of money that they use to purchase metaverse virtual properties. The metaverse real estate is now getting as real as ever and it will only get better. In a recent development, a metaverse sale saw an inverter purchase $2.5 million worth of virtual land.

According to Metaverse Group, it has purchased virtual land in the metaverse for a total amount of 618,00 MANA which was worth about $2.5 million as of the time that the deal was completed. The plots are spread among the several metaverse platforms. Metaverse Group has said that it will not stop purchasing virtual plots of land in the metaverse.

Metaverse Group announced the purchase via a blog post on Tuesday. In the post, Metaverse Group said its virtual land purchase made history by being the biggest so far. Metaverse Group has its official headquarters on Decentraland; a metaverse platform.

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Metaverse Development is Growing

In addition to its virtual land purchases, Metaverse Group is also expected to collaborate with fashion creators to develop metaverse projects. The concept of the metaverse makes it important for fashion brands to be well-represented in the new virtual world. Thus, an increased partnership with fashion houses and brands will happen soon.

Other brands, companies, and individuals are stepping up investments in the metaverse. Facebook’s parent company, Meta, recently announced a new $50 million funding for metaverse projects. The fund will sponsor metaverse projects that are aimed at developing its use. In the sports circle, MetaSoccer is seeking to revolutionize football entertainment.

Much like the Football Manager games, MetaSoccer has raised a couple of millions of dollars to develop and launch its metaverse soccer platform. The platform will allow users to create soccer teams, manage them, and participate in competitions, all in the metaverse.

The development of the metaverse has been nothing short of meteoric. From being an unknown concept to many a couple of years ago, the metaverse is growing at such a speed that betrays years of preparation by the leading digital giants. Celebrities, athletes, and other public figures that have shown interest in the metaverse have contributed to its popularity.

It would be interesting to see the projects that will be developed on the metaverse as more developers get aboard the wave of new internet technology. Regulatory and copyright issues will also need to be addressed soon as projects develop at a faster rate than today.

The value of the so-called metaverse tokens has continued to grow in recent weeks.

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Alicia Maher

By Alicia Maher

Alicia Maher is an accomplished news writer with a passion for storytelling. With years of experience in the field, she is skilled at delivering accurate, engaging, and insightful news coverage to her audience.