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Home Industry Exhibitions Balle Balle: India's First Land Acquisition In The Metaverse

Balle Balle: India’s First Land Acquisition In The Metaverse

Bollywood and Punjabi singer Daler Mehndi has marked his presence in the metaverse.

He buys a piece of land in the virtual world and he named it as Balle Balle Land.

As per the media reports, it is India’s first land acquisition in the metaverse.

The pop singer launched the area on Holi this year and it will house a store selling NFTs.

The Balle Balle Land also houses a gold statue of Daler Mehndi himself.

He will be hosting Bollywood films and music concert in his Balle Balle Land.

Daler bought the land through the Metaverse platform PartyNite.

Meta-commerce is a trillion-dollar opportunity, he said.
By acquiring virtual real-estate in the metaverse, entertainers will be able to create, control new revenue models and avoid dependence on intermediary platforms.
He also added that expecting more storytellers to join the league.

Abhay Aggarwal, Founder and CEO of Colexion, said that this step towards revolutionization would encourage the adoption of Web3.0 as a powerful means of sharing experience and connecting in the real world.

Source: codelist.biz

“India is surely moving ahead towards transformation and we are looking forward to more and more people participating in what we call the biggest revolution in the entire history,” he added.

On the contrary, other market experts said that virtual land purchases have been all the hype in the recent past.

They believe that metaverse is the next big thing in the digital space and there is ample steam left in it.

Ganesh Kompella, Venture Partner, Tykhe Block Ventures, said,

“Whilst Daler Mehndi’s virtual land in the Metaverse is changing the entire gamut of diversifying digital assets. We plan on witnessing this mammoth shift in India as well.”

It’s no secret the real estate market is skyrocketing,  but the pandemic is creating another little-known land rush, he added.

Indeed, some investors are paying millions for plots of land.

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