The Philipp Plein Group, which owns the brands Philipp Plein, Plein Sport and Billionaire, has bought a property in the Metaverse.
The value of the digital property is around 1.4 million euros, according to a press release available to the specialist magazine WWD. The property is located in the virtual, three-dimensional world Decentraland.
The lot is titled ‘Plein Plaza,’ reports WWD. It is located near one of the Metaverse’s central plazas, Genesis Plaza, and is surrounded by streets. In the real world, the lot would be about 16,400 square feet. The square will feature stores, a museum, a hotel and several entertainment venues. The whole thing was paid for with Manas, Decentraland’s cryptocurrency.
Plein says he’s “proud” to be a part of the Metaverse so early, writes WWD. “We will definitely stay here and develop and share the creativity of our brands – Philipp Plein, Plein Sport and Billionaire – in this new dimension,” said Plein.
Plein is one of the first designers to dive so completely into the metaworld of the future. In August, the Philipp Pleins Group announced that it will be the first major luxury fashion group to accept cryptocurrency as a form of payment.
This translated post previously appeared on FashionUnited.nl.
