In a government-backed “digital twin” project, the first 500 parcels of virtual real estate in ‘Madalia World’, a virtual version of the Portuguese archipelago of Madeira, were listed on the Exclusible NFT market yesterday (Sep 28).

The project is a collaboration between the regional government, Exclusible, and the virtual and augmented reality technology company Dimmersions.

Prices range from 1 ETH for a 2,000 m^2 plot to 28 ETH for a 9-hectare plot.

The “Pioneers Collection” went on sale before the release of the Madalia World metaverse. Once the virtual world goes live, the owners of the plots of land will be able to build on their plots, as well as sell or rent the land.

Owners of NFTs will also be able to visit the physical location of their parcel…