Several well-known people are about to take part in an online fashion show on the virtual plot. Kiguel stated that fashion labels Tommy Hilfiger, Cavalli, Elie Saab, Dolce & Gabbana, Etro, and Paco Rabanne have all agreed to participate beginning March 24. The show will last for three days. There will also be a number of well-known DJs and a Mercedes-Benz-sponsored after-party, said Kiguel.
The metaverse tycoon behind a record investment in virtual land, Tokens.com co-founder and CEO Andrew Kiguel, is about to begin construction.
In November of last year, Tokens.com paid over $2 million for space in Decentraland, one of several mushrooming platforms in the metaverse, CNBC reported.
Kiguel describes Decentraland, one of his company’s platforms, as a different type of NFT, or nonfungible token. On the platform, anyone can purchase virtual land. In the case of Decentraland, you must use a type of digital currency known as MANNA, which can only be bought with Bitcoin or Ethereum.
Users can then visit the website to see what is available for purchase.
The parcels have already been purchased, but there are many available secondhand. The price fluctuates in the same way that real estate does in the physical world.
Kiguel’s November purchase of land in Decentraland is being closely monitored by his team, who knew which person owned what and where they desired to buy it. The transaction was recorded on a blockchain, which functions in the metaverse as a digital deed.
Decentraland has 45,000 properties for sale, 45,000 pixels. There are actually 90,000 pixels on the board, but some of them are not for sale, such as lakes, rivers, trees, and downtown fountains, which are maintained by the foundation for beautification purposes, he said.
@tokens_com @metav3rsegroup #Metaverse pic.twitter.com/ZJ0g0Ttqv0
– Andrew Kiguel (@AndrewKiguel) February 25, 2022
Its creators wrote code that prevents expansion in their metaverse, so land is scarce, just as it is in the real world. To get somewhere in the metaverse, you click. It is not necessary to walk, drive, fly, or take the subway.
There are also amusement parks and other attractions designed to draw people and their digital representations, known as avatars, into the action.
There is a chance those avatars will use money or cryptocurrencies to make online purchases.
@tokens_com closed its private placement offering today for $16 million.
Proceeds will deployed into Metaverse and Staking Tokens. #Metaverse #SHIB #ETH #dot pic.twitter.com/vEaGiV6VQp
– Andrew Kiguel (@AndrewKiguel) November 16, 2021
Some of those items may have monetary value in the real world. Others may be for avatars who want to wear the latest metaverse fashion, such as virtual hats, shoes, and shirts.
While Decentraland’s platform is entirely fictitious, another leading idea in the metaverse combines the real and virtual worlds. Hrish Lotlikar, co-founder and CEO of SuperWorld, created a system that takes physical space and allows users to purchase virtual city blocks.
Lingerie giant @VictoriasSecret has filed trademarks to sell virtual goods and has plans to sell ‘virtual lingere’. Could their fashion show one day return in the #metaverse!? https://t.co/OgjWXK6Xlq #victoriassecret #metaversefashion $COIN.n $SMURF pic.twitter.com/4V5jl5nI4F
– Tokens.com (@tokens_com) February 26, 2022
Blocks are initially sold for $390, but their value fluctuates in the secondary market. SuperWorld aspires to have real-world utility by allowing users to leave NFTs, holograms, or messages on the platform that others can find if they visit the real-world equivalent in those city blocks. SuperWorld makes money by taking a 10% cut of all business done on anyone’s property and another 10% when land changes hands in a sale.
Customers in Second Life rent land and build on it. According to Oberwager, Second Life is now a $650 million real economy. The company also intends to launch a payment system that it hopes will become the metaverse’s bank, providing customers with a more streamlined way to move money into virtual economies.
(Photo: sutlafk)
