Madalia World: the first government-recognized metaverse is selling land

Madalia World has become the first metaverse recognized by a government. A virtual replica of Madeira offers land parcels with prices starting at 5 ETH.

The metaverse industry has reached a new milestone with a digital replica of Madeira recognized by the island's government. It's called Madalia World, and it's already selling land.

The offer may be tempting for investors with thick wallets, although it has a downside. To build real estate in the metaverse Madeira, you need... permission from the local authorities (fortunately, it's included in the price). It's a wonder the Chinese didn't come up with the idea first.

Exlusible, the company behind the project, launched the sale of NFT tokens tied to "500 unique virtual properties" on its marketplace. The so-called "Pioneers Collection" has been available at Exclusible.com as of yesterday. The prices are based on size, location, utilities, and unspecified in the press release "perks" of the parcels. The offer looks as follows:

  • 34 parcels – 9 hectares at 28 ETH (OTC) or 37K euros.
  • 89 parcels – 3 hectares at 13 ETH (OTC) or 17K euros.
  • 144 parcels – 1 hectare at 5 ETH (Random Minting) or 6K euros.
  • 233 parcels – 2000 sqm at 1 ETH (Random Minting) or 1300 euros.

The project is a bit transgressive. The parcels on sale are located in the Natural Park of Madeira Island, which has a status of protected land, meaning it can never be built upon in the real world.

Just imagine developing a shopping mall in the middle of a UNESCO World Heritage Site.

However, the company comes off as environment-conscious, as it declares to donate 10% of all Madalia net profits to a "government-regulated entity in charge of Nature Preservation".

Morals aside, Madalia World provides users with construction kits applicable to its virtual land and other opportunities restricted to the metaverse, such as building vertically and dividing, selling or renting the land, creating virtual businesses and buying, decorating the space with already owned NFTs or in-platform purchases.

"There are also extra benefits such as early access to Immersive Entertainment related to the Madalia IP, all Madalia public event ticket sales and all future sales of Virtual Properties & NFT Drops from Exclusible, access to purchase tickets to Madalia's exclusive annual gala and an invitation to the "tree party" to plant 500 trees to offset the carbon footprint of the mint and NFT transactions" – clarifies Candy Flores de Freitas, CEO of Dimmersions, the company developing virtual and augmented reality tools used in the creation of Madalia.