- TerraZero Acquires 185-Parcel Estate in Decentraland
TerraZero Acquires 185-Parcel Estate in DecentralandPublished on Tuesday, March 08, 2022 03:11pm (GMT +7) by Blockee
TerraZero Technologies Inc., a vertically integrated Metaverse technology company, has acquired one of the most significant estates in Decentraland to build the premier entertainment destination in the Metaverse. According to the company, this entertainment destination will comprise virtual concerts, film screenings, shopping, as well as cultural and educational events.
Furthermore, TerraZero also announces that Mr. Carl Fravel, a renowned technology executive, and Decentraland entrepreneur and district leader, has joined the company as a strategic advisor. Mr. Fravel will bring his Metaverse strategy and execution expertise to the company’s portfolio of products and services effective immediately.
Mr. Fravel sold a portion of his personal collection of prime strategic virtual real estate, totaling 185 parcels, to TerraZero in exchange for a mix of TerraZero shares and cash as part of the new collaboration. The estimated market value of the 185-parcel estate is roughly 2,775,000 USD. Mr. Fravel stated that he sees this transaction as a watershed moment for both e-commerce and business in the Metaverse.
Since Decentraland’s formation in 2017, Mr. Fravel has acted as the key advisor and district leader for the Metaverse. In addition, he develops and enhances the Decentraland Conference Center as its founder and supports a number of official Decentraland districts as a member of the district leadership teams. He was also appointed as Chancellor of Decentraland University.
TerraZero has big plans for the 185-parcel estate. The company intends to build a massive cityscape across part of the estate. The company’s Chief Metaverse Officer, Ryan Kieffer, has produced and hosted some of the biggest and most successful events in the Metaverse, such as the first live music festival. He stated that the company aims to build a city-like environment similar to Universal Studios or Epcot, filled with shopping, concerts, excursions, film premiers, attractions, museums, and more.
SOURCE: Yahoo! Finance
Tags: Virtual Real Estate, Investment