TerraZero Acquires 185-Parcel Estate of Virtual Real Estate in Decentraland, Valued at Approximately $2.7M to Build Massive Metaverse Entertainment Destination

Future Metaverse

Vancouver, BC (PRNewswire)

TerraZero Technologies Inc. (“TerraZero” or the “Company“), a vertically integrated Metaverse technology company, announces that it has acquired one of the most significant estates in Decentraland to build the premiere entertainment destination in the Metaverse. The company envisions that this destination will include immersive experiences like virtual concerts, film screenings, shopping, cultural and educational experiences.

In addition, the company announces that renowned technology executive and Decentraland entrepreneur and district leader, Mr. Carl Fravel, has joined the Company as a strategic advisor. Effective immediately, Mr. Fravel will bring his Metaverse strategy and execution expertise to TerraZero’s growing portfolio of products and services, including its Metaverse Studio used for builds and deployments across Metaverse worlds.

Carl
Technology Executive and Decentraland Entrepreneur Carl Fravel as Keynote Speaker (CNW Group/TerraZero Technologies Inc.)

 

As part of the new partnership, Mr. Fravel sold a portion of his personal collection of prime strategic virtual real estate, 185 parcels in total, which he has held since the launch of Decentraland, for a combination of shares and cash from TerraZero. The 185-parcel estate has an estimated market value of approximately US$ 2,775,0001.  Mr. Fravel sees this transaction as a watershed moment for business and ecommerce in the Metaverse, as he commented:

“I see the Metaverse in the early stages of a paradigm shift to deep substance – major entertainment, highly functional real estate, Web3 commerce, experiential advertising, education, telemedicine, and entirely new use cases. The opportunities within the Metaverse of benefit to humanity are endless and I can’t wait to help support and grow TerraZero, a company whose vision, leadership and ethics I have greatly admired. I am thrilled to be a significant shareholder of TerraZero and I am excited to watch the future of the Metaverse unfold.”

Since its formation in 2017, Mr. Fravel acts as key advisor and district leader for Decentraland, develops and enhances the Decentraland Conference Center (https://dclconf.com) as its founder, supports various official Decentraland districts like Aetheria, Virtual Reality Shopping, Decentraland University and Chobury as member of their district leadership teams, and was appointed as Chancellor of Decentraland University.

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