It may seem ridiculous to buy virtual land in the metaverse, especially when some of the cheaper plot cost more than $10,000. Is it worth paying millions of dollars for virtual metaverse land and how much is metaverse land really worth?
With the decentralized finance (DeFi) world heating up, metaverse development offers attractive investment opportunities. As investors seek new ways to diversify their portfolios, they are looking to the digital world to find ways to invest in virtual real estate that can be rented out for passive income or sold for a profit.
Several large accounting firms, such as PwC and Prager Metis, have already acquired land in Sandbox’s metaverse to provide virtual services and advise clients. Other concepts provide new marketing opportunities for brands and service providers, such as digital billboards. Let’s learn together, how and where to buy metaverse land!
Where Can I Buy Metaverse Land?
Buying metaverse land can seem daunting at first due to the specific terminology and processes involved, but in reality, it is a simple one, and in a few steps, you can own it. Lets walk through the steps of where to buy metaverse land together! Anything is simple if you have the right road map!
Where to Buy Metaverse Land
There are two ways to buy land: on an NFT marketplace like OpenSea and search for land NFTs of a specific metaverse or directly on a metaverse platform like Decentraland Marketplace.
Following are the steps you should follow before buying metaverse land:
Choose a metaverse platform.
The first step to understanding where can I buy metaverse land is deciding which platform to use, which depends on several factors, including the price, property size, and seller. Researching which platform best suits your goal is a good idea if you don’t have a specific platform in mind.
After understanding the platform where to buy metaverse land; You must purchase metaverse crypto. Most metaverse platforms and NFT marketplaces only take payments in pre defined cryptocurancies. Buying land in the metaverse requires you to open a digital wallet – the type of wallet depends on the metaverse platform. Metamask, Fortmatic, WalletConnect, and Coinbase Wallets are examples of platforms that Decentraland can connect to.
Choose Metaverse land
Choosing a plot of land to purchase is the next step after selecting the metaverse platform, setting up your digital wallet, and purchasing crypto. Before buying metaverse land, consider the following:
- The Price of land
- The Size of land
- In digital currency, you have to pay in
- The Seller of the land
- Detailed transaction history
Complete the purchase of your virtual land
You need to link your account and wallet to the secondary NFT marketplace from the metaverse platform and click buy after determining the best area.
It is possible to hold on to your purchase for a long period, flip it for profit, or build something on top, depending on your objective.
A Guide to buying land on OpenSea
The OpenSea marketplace is another great place where to buy metaverse land. OpenSea is the world’s first marketplace for buying and selling digital assets, including virtual land and NFTs. The Ethereum (ETH) and Solana (SOL) blockchains also feature trending NFT projects and asset resale possibilities.
When you know which land you want and which metaverse platform to purchase it from, it is better to buy it on a third-party platform.
Sign up for an account
To begin, you must register an account on OpenSea NFT. The process is relatively simple and only requires a few simple steps.
Find the virtual land you want to purchase
Secondly, find out which land plots are available on the platform – at this point, you should already know which metaverse platform you want to purchase land on.
Here, you can view all the details: the number of listings overall, the price, and the digital currency they are sold in, as well as filter the results for “buy now,” “auction,” “new,” or “has offered.” The listing details, such as purchase history, average prices over time, and the seller, are available when you click them.
Complete the purchase
It’s time to make the purchase! Then, depending on the listing type, you can click “make an offer” or “buy,” depending on your chosen platform.
A Guide to buying land on Decentraland
Decentraland is a decentralized metaverse platform with 90,601 virtual plots of land, established in 2017. Users can purchase land in Decentraland using the MANA token, the platform’s digital currency.
Sign up for an account
Create an account on the Decentraland platform first. You can now purchase the land on the Decentraland marketplace by connecting your crypto wallet to your Decentraland account.
Go to the Decentraland Marketplace
Following your registration, head to the Decentraland Marketplace, provided you have already signed up with a crypto wallet such as Metamask. If necessary, use a Chrome extension to connect to your wallet.
Afterward, you can reconnect to your wallet (if you haven’t already connected). The next step is to click “start browsing,” which takes you to the page where you can select from various digital assets, including land.
Decentraland’s entire map is displayed on that page, with available plots highlighted in blue. Green hubs are called “Genesis Plazas,” the central areas of this metaverse, where the most expensive plots of land are located.
Choose the land you wish to purchase
Next, you need to select the plot you are interested in purchasing. Each plot of land highlighted in blue is for sale, and when you hover over it, you can see how big it is, the price and the seller.
Depending on its price, location, and potential, you can decide how close it should be to the central hubs.
Complete the purchase
As soon as you identify a suitable plot, you can click on it to open further details, and the “buy” or “bid” options.
Using this example, a user named Chao is selling his plots of land for 500,000 MANA, which is about $398,276 US dollars.
Like physical real estate, digital prices are driven by supply, demand, and scarcity. There are also few land plots in metaverses, meaning unique investment opportunities exist. It is important to research before purchasing metaverse real estate since digital assets like virtual land are still highly speculative and come with heightened risks.
Find answers to all your Metaverse questions here.