By Andrew Ross Sorkin
This is bonkers. A new so-called blockchain company is selling virtual real estate online with prices as high as $120,000 for a 10-meter by10-meter piece of virtual land. You can buy a plot of virtual land in a virtual city, with certain neighborhoods costing more than others, like in a real city. Except that it isn't a real city. It is all virtual. Follow? Me neither.
Somehow this company, Decentraland, managed to raise $26 million in 30 seconds from investors last year. That money isn't "virtual" - it is real.