The Metaverse continues to draw users into that area. Even the real estate market is entering here as everyone is trying to experience this next big thing. In addition to playing games and talking to people, you can now actually buy virtual land in the Metaverse. If you’re wondering how to do that, you’re in the right place. Keep reading as it explains how to buy virtual land in the Metaverse, with appropriate precautions in place.
Buying virtual land in the Metaverse is easy, but there are still some things you need to do and tips to follow. However, if you already understand the basics, use the table below to skip to the process itself.
- 1 What is the Metaverse Virtual Land?
- 2 Reasons to buy virtual land
- 3 What you need to buy virtual land in the Metaverse
- 4 Tips before buying virtual land
- 5 How to buy virtual land in Metaverse?
- 6 Scope out and buy virtual land
What is the Metaverse Virtual Land?
For those who don’t know what the land of the Metaverse is, let’s disassemble it right away. The land parcels of the Metaverse are basically part of a virtual property represented as: Non-fungible token token.. Each section of the Metaverse land is on the blockchain, so you can easily check its reliability. Like real-world lands, virtual lands are bought at prices that are mostly cryptocurrencies. These parcels, also known as NFT lands, can be used for virtual real estate projects or purchased on third-party platforms such as OpenSea.
Users who purchase virtual land or NFT land can build experiences on top of it, including games. You can even sell virtual land for profit or even rent it for cryptocurrency payments. The land of NFTs is steadily gaining momentum as the Metaverse people are jumping head-on into this business. However, online people are not the only ones who have invested in this. Even companies are on the cusp of buying land patches for virtual real estate projects.
Reasons to buy virtual land
As with real-world real estate, the reasons for buying virtual land in the Metaverse can be different.But most people buy it for either entertainment Also Profit..
Users who buy virtual land for entertainment often buy it and build a virtual experience on it. Depending on the project you invested in, users can create different experiences and place large numbers of digital assets in their projects. You can also invite your friends to the land of the NFT you purchased to interact and have fun.
However, some people buy virtual land for investment in the Metaverse. The main reason for this is the lack of land in NFTs. Prices are even higher as Metaverse users buy parcels quickly in virtual projects. Therefore, users who buy land in the Metaverse can sell it and make a decent profit.To understand how much profit you can make, you need to know that the Metaverse virtual land is for sale. Hundreds of thousands of dollars..
However, for those seeking regular income, the land can also be rented to other users or used for other purposes. Therefore, you can easily buy a slot for virtual land and rent it to your users. Many people also host exclusive events on their land and then charge users for admission. You can get one or two pieces regardless of the reason you buy the virtual land. Please continue reading.
What you need to buy virtual land in the Metaverse
Before you buy the next big thing in the Metaverse, let’s briefly explain what you need to do. Before proceeding, make sure you have the following:
1. Digital crypto wallet
Metaverse virtual land cannot be purchased in traditional currencies such as the US dollar. Instead, you’ll need a digital wallet to store your cryptocurrencies. This currency can be used to buy the currency required by virtual real estate projects. For the best possible experience, get a digital wallet that integrates directly into your web browser.
You can check out digital wallets such as MetaMask (visit) and Binance Chain Wallet (visit). However, no matter which cryptocurrency you use, make sure you support the currency of the virtual project you plan to invest in. You can easily do that by visiting the project website and checking.
2. Virtual real estate platform
Unless you already have a virtual land project in mind, you’ll also need a place to sell NFT land.Platform like Decentra rand When sandbox Sell virtual land via tokens such as MANA and SAND respectively. The area and amount of land depends on the platform you choose.For example, some of the land in Decentraland is a countermeasure 16m x 16m..
However, due to shortages in most places, if you can’t buy directly, you can always check out websites such as OpenSea, an NFT marketplace that is regularly sold by users who already own the land. .. Remember to choose your favorite virtual land platform as you will invest money directly in it.See sandbox In the next few steps.
Tips before buying virtual land
The process of buying virtual land is simple enough, but there are a few things to keep in mind when running the process.
1. Make sure the Metaverse Land project is legal
No matter which Metaverse land project you choose in the end, take the time to research. It’s easy to fall into a fake NFT land scam because buying virtual land involves dealing with real money. A good way to know if the area you are investing in is legal is to find someone who has invested in front of you. If the overall reception is positive, you can go. If not, take the time to look for alternatives.
2. Pay attention to the digital wallet
Digital crypto wallets are protected by what is called a “”Seed phrase‘. Simply put, a seed or secret phrase is a set of random words that give you access to the funds in your digital wallet. The seed phrase associated with the digital wallet is very important because it gives you direct access to the wallet.
Whatever you do, don’t share the secret purse phrase with anyone. This includes virtual land companies as well as wallet companies themselves. Otherwise, there is a risk that your cryptocurrency will be stolen. Keep this in mind when trading virtual land in the Metaverse.
How to buy virtual land in Metaverse?
Setting up a digital wallet and selecting a Metaverse virtual project makes the process itself much easier. Display the image from the sandbox, but the procedure is similar for other projects. Follow the process below on how to purchase virtual land in the Metaverse.
1. Proceed to the Metaverse Virtual Land Project. If you are also using a sandbox, use this link to access your website.
2. Click Sign in A button to log in by yourself.
3. Next, you need to link the crypto wallet. If you’re also using Metamask like us, click on that icon.
4. Next, you need to authorize sandbox access to your wallet.click Next A pop-up button that appears.
5. On the next screen, connection Click the button to continue.
6. Next, enter the sandbox details. Enter your email address and nickname, continue button.
7. Another window will pop up asking you to sign your wallet.Just press sign continue.
8. The final step is to create a password. Make sure it is strong. Enter your password, keep button.
And you’re all done! You can see that you are signed by looking at the top right corner of the website. Sign-in is replaced with profile and SAND balance.
To buy virtual land, you must also buy SAND (the official currency of the sandbox) or ETH. This how-to doesn’t cover that part, but it’s easy to explain. Simply select a platform like Binance, create an account, buy currency and transfer it to your wallet.
Scope out and buy virtual land
Note: At the time of writing this article, NFT lands on the sandbox were available. If you don’t see them while reading this, you can always check out Sandbox’s virtual lands via OpenSea.
Now that your wallet and account are ready, let’s actually start buying virtual land. Follow the steps below.
1. Click market Left sidebar icon. This will take you to the official sandbox marketplace.
2. In the marketplace, click land under NFT type.. If you don’t see it, scroll down until you find it.
3. You should now see a list of NFT lands provided by both Sandbox and other users of OpenSea. Take the time to scroll down and see the list. When you’re done, click on the land you’re interested in to go to that page.
4. Now SAND shows the price of the virtual land and all the assets contained in this land. Click when you are sure this is what you need. Buy now Click the button to start the process.
5. Or click on the Opensea land parcel and you will be redirected to the website there. The price charged by the current owner is displayed.You can press either Buy now Buy it at that price or Create a custom offer I will negotiate. Whatever you do in the end, you will be the owner of the Metaverse virtual land. And before you say that, yes, we know that virtual land is expensive, so make sure you want what you want before you buy it.
You will now be redirected to OpenSea to complete your purchase. As with the sandbox, the wallet should be connected there as well. Upon completion, the cryptocurrency will be deducted and the land will be assigned to your account in the form of an NFT. Congratulations on owning a virtual land in the Metaverse!
This is almost everything you need to know about buying virtual land in the Metaverse. So what are you planning to do with your virtual real estate? Are you going to turn it over for profit, develop it as an experience, or something else? Please let us know your thoughts in the comments.