- Metaverse Group will invest up to $1 million in SuperWorld, where users can buy virtual versions of global landmarks.
- An initial investment of $250,000 will be used to buy land plots on the platform that’s digitally mapped the Earth’s surface.
- Metaverse Group is behind one of the biggest virtual land purchases to date.
- Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Virtual land developer Metaverse Group is expanding its reach in digital real estate by investing up to $1 million in SuperWorld, where users can buy and sell versions of global landmarks including Mount Rushmore and the Great Wall of China.
An initial investment of $250,000 will purchase plots of virtual land on the SuperWorld platform world featuring augmented reality content.
SuperWorld has digitally mapped Earth’s surface and offers more than 64 billion unique plots of land for purchase, collection, and curation. They are represented as non-fungible tokens that correspond to real-world space, allowing people to own digital versions of major landmarks such as the Paris’ Arc de Triomphe or the Sydney Opera House as well as non-famous parts of the world.
Each plot of NFT land on SuperWorld translates to the real-world equivalent of a 100m x 100m space, or roughly the size of a sports stadium.
“As we choose key strategic locations that will continue to diversify our eight-figure metaverse real estate portfolio, this partnership will bring a larger brand marketing opportunity for businesses looking to enter the metaverse,” said Metaverse Group CEO Lorne Sugarman said in a statement.
Metaverse virtual land deals are reaching into the millions of dollars as companies prepare for potentially lucrative deals to advertise or host spaces in the 3-D world.
Token.com’s Metaverse Group emerged last year as a major player in the newly hot market. It’s behind one of the most expensive virtual land deals on record, with its $2.43 million purchase of parcels in Decentraland, a blockchain-based 3-D universe where some land can be monetized.
The digital land is in Decentraland’s Fashion District, and Sugarman told Insider in an interview last month that “We think the Fashion District purchase is like buying on Fifth Avenue back in the 1800s … or the creation of Rodeo Drive.”