Publicly-listed cryptocurrency and blockchain investment firm Tokens.com has announced a landmark agreement to acquire a 50% stake in metaverse existent estate firm Metaverse Grouping in a deal worth in excess of $1.half dozen million.

Tokens.com is expected to capitalize on the buy — reportedly the highest purchase of a virtual existent estate house — through the development of asset opportunities for public retail investors seeking to proceeds greater exposure to nonfungible token, or NFT, and decentralized finance, or DeFi, assets.

Metaverse Group operates a service akin to a traditional real manor firm in that information technology engages in property acquisition, development and direction, in addition to marketing and promotional services. However, the group differs immensely due to its adoption of blockchain technology, gaming and NFTs as well as a multitude of other technologies that contain the metaverse.

While the true definition of the metaverse is still evolving to a unified consensus, for now, at least, the applied science is considered to be a iii-dimensional virtual surroundings where users can collaborate, socialize and progress. Fortnite and Roblox take given us some insight into this globe, equally did the Ernest Cline novel, Ready Player I.

The Metaverse Group owns a drove of well-regarded plots of country and properties in some of the world's nearly popular metaverse games: Decentraland, The Sandbox and Somnium Infinite, amongst others, with their global headquarters located in Crypto Valley of Decentraland.

Andrew Kiguel, CEO of Tokens.com, shared some insights into the potential impact of the infinite:

"The Metaverse is a game-changer for how advertisers and brands market their products. Every bit more than people besiege in these virtual cities, the land becomes more sought after for its ability to attain a new global demographic. Metaverse Group has the potential to be a major landlord and developer by using the aforementioned strategies used by physical real estate managers."

Related: The Metaverse, play-to-earn and the new economic model of gaming

Last month, tech behemoth Facebook advanced upon their intentions to build a metaverse with the launch of a $l 1000000 research and development fund. The company expressed ambitions to construct a fully-fledged virtual earth including a panoply of products and services within a timespan of a decade.

To execute this virtual vision, the firm is seeking 10,000 new employees from the European Union for roles ranging from specialized engineers, to virtual architects.