Barbados is poised to become the first state in the metaverse to have an embassy. The Barbados Ministry of Foreign Affairs and Trade signed an agreement with Decentraland on Sunday. Cryptocoin. com
As we reported , Decentraland is the network behind the popular metaverse coin project MANA. Here are the details…
Decentraland behind metaverse coin MANA, and Barbados establish embassy on metaverse
The Caribbean nation will also formalize deals with Somnium Space, SuperWorld, and other Metaverse platforms. This will enable them to declare their digital real estate legally sovereign land. The country’s Ministry of Foreign Affairs, Ministry of Science and Technology, and many other government bodies have reviewed the plans in recent months. Government; It will work with various projects to identify and purchase land, architect virtual embassies and consulates, develop facilities to provide services such as “e-visas”, and build a “teleporter” that will allow users to transport their avatars between various worlds.
The country also hired legal counsel, as the embassy would set a unique set of precedents. So far, experts have said that the embassy will comply with international law and the Vienna Convention. January marks the opening of the embassy in the Metaverse. However, it is stated that this schedule is temporary. With the opening of this embassy, Barbados will become the first country in the world to recognize digital sovereign territory. Meanwhile, Barbados partnered Decentraland’s MANA token is changing hands at $3.04, down 9.3 percent. The coin reached an all-time high of $4.11 in the past weeks, during the Metaverse frenzy over Facebook changing its name to Meta.