However, you can’t buy it within Decentraland itself. Several galleries show off NFT artwork-including one display from Sotheby’s-where you can walk up to a piece and click on it. There are stores elsewhere in Decentraland, but only by a loose definition of the word. For all intents and purposes, it’s a ghost town. The 116-parcel estate that sold for nearly $2.5 million is just south of the empty storefronts, and it is entirely barren.
Metaverse land movie#
The space feels less like an up-and-coming bustling shopping center, and more like a movie set-a facade of what could go in this spot some day, but isn’t there now. There are no shops here, nothing to click on or buy, and it’s unclear if these brands approve of or even know their logos and designs are in use. Digital advertisements from brands like Chanel, Dolce & Gabbana, and Tommy Hilfiger adorn the sides of the buildings, but you can’t go in. The bulk of this space is covered by the default procedural terrain, with the primary exception being a row of buildings styled after t he Graben in Vienna. I visited the “Fashion District” in Decentraland, which takes up a large section of land on the far west side of the map, split down the middle by one road. “The story that you're buying something in a new high-rise or a building is largely kind of bullshit.” Because at the end of the day, you're just buying numbers in a computer,” he said. “People need to kind of have a narrative behind it.
Metaverse land software#
As software engineer and crypto skeptic Stephen Diehl explained to WIRED, this sort of language can be more about building a story than describing a technical process. However, this is an unusual way to describe the process of designing 3D models or virtual environments. A press release from (which owns a 50 percent stake in Metaverse Group) said the company broke “ digital ground” on a tower in Decentraland-phrasing that The New York Times echoed in its report on the story-and that the tower is “under construction” on the land parcels Metaverse Group owns. The language that investors, and even news outlets that cover them, use to describe this kind of development echoes real-life property terminology. Alternatively, you can rent out space on your property to brands that want to advertise, host events and get a cut of the sales, or open up a shop and sell digital items to users. You can own part of the land, which will increase in value as demand for the space increases, at which point you can sell it. Decentraland’s pitch is that using NFTs makes land in its gameworld scarce and, thus, valuable.
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