Virtual currencies are, for many, hard enough to fathom. So wrapping their heads around the concept of a virtual city that you can only enter via a digital-currency toll presents a problem by an order of magnitude. However, those who can wrap their heads around the concept are banking profits of more than 500% by buying and selling virtual property in a place called Decentraland. “Decentraland is a [blockchain-based] virtual city where you will be able to visit for many reasons including business, retail, entertainment and also, of course, play games,” said one U.K. resident who asked not to be named and described having begun investing in Decentraland property in February after trying his hand at trading altcoins, as cryptocurrencies other than bitcoin BTCUSD, -0.05% are called. In Decentraland, investors buy and sell plots of land, or LAND in Genesis City, the first city in Decentraland. “I got involved in December 2017, it was right before it took off,” said Ali Bohlaiqah, a chemical sourcing specialist at Sadara Chemical Co. in Saudi Arabia. “I put in $60,000 and have been buying and selling LAND since then. At the moment I currently own about 450 LANDs, which is worth over $350,000.” Bohlaiqah said his investment represented about 75% of his savings. People are making more than 500% buying property that doesn’t actually exist
