Portion Drops $1.2 million for virtual property in Decentraland
Portion acquires Decentraland estate to offer immersive experience for artists and brand
Sales of real estate in the metaverse exceeded $500 million last year and could double this year, according to investors and analytics. Currently, some digital lands in fancy Decentraland districts are worth more than $1 million.
Being one of a few companies that paid a whopping seven figures for a virtual estate is Portion.io, a 21st-century blockchain-based auction house and collector’s community for rare high-end physical and digital art items. The purchase of ”Portion District”, near Decentraland’s Genesis Plaza, was completed for 425,000 MANA, equivalent to approximately 1,200,000 USD.
This acquisition comes on the heels of their recent successful partnership with Publicis Sapient, a leading digital consulting company. As a leader in digital business transformation, Publicis Sapient partners with the world’s largest brands, most of which are exploring and investing in Web 3.0.
Portion.io, a 21st-century blockchain-based auction house and collector’s community for rare high-end physical and digital art items, announces the purchase of ”Portion District”, an estate within Decentraland, a 3D virtual world platform where users buy virtual plots of land as NFTs. The purchase was completed for 425,000 MANA, equivalent to approximately 1,200,000 USD, as of 01/27/21.
“We’re incredibly excited to acquire a premium district in the Decentraland ecosystem in the early stages of its development,” says Jason Rosenstein, CEO & Founder of Portion. “It’s a major step in our journey since it helps us begin tangibly building out on a vision we’ve been developing for quite some time, allowing us to effectively optimize proof of concepts for the growing pool of curious artists and brands merging themselves into the Metaverse.”
Portion has partnered with celebrities including 2chain, WizKhalifa, Virgil Abloh, and well-known artists to make exclusive NFTs. From February 7-11, Portion will be featuring an NFT exhibition dedicated to Black History Month, highlighting a range of artists exploring Afrofuturism and alternate realities through a Black cultural lens.
