The metaverse concept has attracted tremendous popularity in 2021, so how can you buy a piece of land in it?
The term metaverse was originally coined by Neal Stephenson in 1992. As a concept, it has gained incredible traction among people allowing them to live and build their virtual fantasy world.
Leading metaverse projects like Decantraland and Sandbox have been offering enticing virtual real estate deals. These projects/games let investors buy land in the virtual world as NFTs, which hold significant resale value. Here’s how to get involved.
How Does Land In The Metaverse Work?
Virtual plots or lands in Metaverse act as Non-Fungible Tokens, or NFTs. These allow investors to own the patch of land in all its exclusivity without sharing it with any other person, just like the real world.
These virtual plots can be owned by acquiring the native crypto tokens such as MANA for Decentraland, or SAND for The Sandbox, and later spending them in these projects to buy real estate properties such as land and buildings.
However, what this shows is that there is no one 'metaverse'. Does the metaverse actually exist, or is it just another buzzword thrown around on the internet for marketing purposes? We're not so sure. Regardless, it is still the early days - and we've highlighted two major Metaverse ventures below.
How To Buy Metaverse Land
The Sandbox and Decentraland are two of the leading 'Metaverses' in the currency cryptocurrency space. However, if you just want to buy some form of virtual land, you can also purchase plots of land in Axie Infinity.
Here's how to buy land in The Sandbox and Decentraland.
The Sandbox
Land available- 166,464 parcels
Average price - $13.8k (via NFT Stats)
- Set up a wallet and account with The Sandbox.
- Purchase $SAND tokens via an exchange of your choice.
- Transfer the $SAND tokens purchased from your exchange to your The Sandbox wallet.
- Visit The Sandbox marketplace and search for a suitable property/patch of land just like you search in the real world. (Check the location, value, resale prospects of the property before buying it).
- Hit the buy land button to seal the deal!
Decentraland
Land available- 90,601 parcels
Average price - $26.9k (via NFT Stats)
- Set up an account and wallet with Decentraland.
- Purchase $MANA tokens from a crypto exchange.
- Transfer the purchased $MANA tokens to your Decentraland wallet.
- Select the land that you want to purchase by browsing through multiple available properties by logging in to the account and tapping the parcels category.
- Click on the buy land option to proceed ahead with the purchase.
Read More: Best Free-To-Play and Play-To-Earn Cryptocurrency Games