Boson purchased a $704K plot in Decentraland to create a virtual mall

The purchase amount is the largest ever paid for a plot in Decentraland’s virtual world.

Boson purchased a $704K plot in Decentraland to create a virtual mall

According to the post published by Decrypt, Boson has purchased a $704,000 plot in Decentraland to establish a virtual mall.

Boson’s mall will allow brands to sell their products in the virtual retail space, and players of Decentraland’s browser-based game to purchase digital assets that they can then exchange for physical goods and services.

For example, someone who purchases a handbag or pair of shoes as an NFT can exchange it for the real thing. The protocol is hoping to attract users from other Decentraland communities.

Boson Protocol provides decentralized infrastructure via its blockchain and has raised $10 million over multiple funding rounds from 2019 to 2021. It raised nearly $26 million from a public token sale earlier this year.

Decentraland is an Ethereum-based virtual reality blockchain platform where users can purchase, build and monetize applications. In its virtual world, users use tokens to interact with the platform and purchase virtual land, goods and services. It is divided into a limited number of parcels known as LAND, represented by a non-fungible ERC721 token, which can be purchased with MANA, an ERC20 token.

The Decentraland project’s commerce landscape is quickly evolving. Last week, Sotheby’s Auction House established a virtual duplicate of its London galleries on Decentraland. The digital space allows for artists to sell their unique NFTs to Decentraland players.