WHY PEOPLE BUY LAND IN METAVERSE AND HOW TO BUY? STEP BY STEP GUIDE !
A few years ago investing in virtual currencies was a bit strange,
now we are talking about investing in VIRTUAL REAL ESTATE.
Today, things are very different. People are buying virtual land in digital worlds like Sandbox (SAND), Decentraland (MANA) etc. and the idea of metaverse is now real. That’s why people are investing in them now.
To find out more about the metaverse, you can read this summary sentence or this article with all details!
“The metaverse is a digital world that can be accessed through virtual, augmented or extended reality. It will have lots of opportunities for people to work, play and live in a way that is both digital and real.”
The idea of the metaverse has been around for more years.
However, it is just now becoming popular with people because Facebook announced that they are going to be a metaverse company. -They changed their name as “META”-
This made the idea more popular. As a result, more and more investors are looking for ways to invest in this new growth area of the market. One way they can do this is by buying virtual land in digital worlds, which are very popular right now.
So let’s get down to business and find out what virtual land is and why investors are so excited about it.
Virtual Land
What is it and why are people buying it?
People have tried to settle down through the ages, and the main theme of all wars has always been unclaimed lands.
As a result of the instinctive human process, the subject that makes the lands valuable and makes us say real estate is one of the most popular asset types in the world and can now be found in the digital world.
Virtual land is land that is not real but exists in virtual worlds. Just like real land, virtual land is sold in parcels and can be purchased with that land’s currency. It is now possible to buy and even rent virtual land in several virtual worlds. Sandbox or Decentraland is probably the best ones known of these.
In June, a piece of land in Decentraland sold for more than $900,000. And it’s not the only one. Virtual land could be a good investment for crypto-savvy speculators because there is a lot of interest in the metaverse. Virtual land worth $2.8 million was bought by Tokens.com in an area that will soon be a new fashion district.
So WHY are investors giving so much money to virtual lands? Can they really use this land?
Investors can use their virtual pieces of land and make money. If you own a piece of land, you can host private events or parties on it and charge people who want to come.
For example, the American rapper Snoop Dogg held a party on The Sandbox’s NFT platform. You had to buy a pass that was like money and gave you access.
so lets buy some barbeque place :)
THE MOST FAMOUS METAVERSE LANDS
Of course!
SANDBOX
The Sandbox is a game for mobile phones (iOS and Android) and Microsoft Windows, developed by gamestudio Pixowl and released on May 15, 2012.
The brand was acquired by Animoca Brands in 2018, and its name used for a blockchain-based 3D open world game.
You can learn directly.
You can access the information that how to buy a land in Sandbox.
“How to Buy a LAND in the Sandbox?”
DECENTRALAND
There is a blockchain-based virtual reality platform called Decentraland that lets people buy land and play games, host events, and interact with each other in many ways.
In the NFT space, it is a virtual world with its own tokens. There are 16x16 squares of land on Decentraland. Each piece of land is called an “NFT.” In order to make things more scarce, there are only 90,000 pieces of land on Decentraland. If you want to buy or rent land on Decentraland, you can do it through OpenSea — a marketplace for NFTs — or through the Marketplace inside Decentraland.
A step-by-step guide on how to buy land there
Here is a step-by-step guide on how to buy land in Decentraland directly from its Marketplace. Now that you know what Decentraland is, read on for how to buy land there.
Step 1: Take the first step by going to the Decentraland Marketplace first.
Decentraland’s Marketplace is the first place you need to go. You will need to sign in or sign up if you aren’t already a member.
As soon as you’re signed in, go to “Parcels and Estates.” Click “View All.”
Step 2: Choose a piece of land.
This is the next step. You should look at all the land that is available and choose the land that you like best. The advantage of buying land in Decentraland directly from the market is that you can see where the land is next to and how close it is to famous places.
Once you have chosen your piece of virtual land, click on it to learn more about it. Here, you can see the price of land in MANA, how much land there is, and who owns it.
Tap on “Buy” to buy the item.
Step 3: Connect your wallet to the Decentraland Market.
To make the purchase, you will need to make sure that your wallet is linked to your account. Once the purchase is successful, the land will be sent to your wallet as an NFT.
In case you don’t already have a wallet, you can download MetaMask and Trust Wallet. Remember that your wallet must have enough MANA or ethereum (ETH) for you to buy the thing you want.
As a side note, you also need some extra tokens to pay for the gas fee.
Step 4: Make sure your virtual land is real.
Once the purchase is done, you can check to see if your LAND is on your wallet.
In the Trust Wallet, you can check this under the “Collectibles” and “NFTs” tab. If you use MetaMask, you can see this under “NFTs.”
Is it a good idea to buy virtual land in the metaverse?
So far, the virtual real estate market has only gone up, and that’s the only direction it has ever gone. Facebook’s move into the metaverse and the interest of Web 3.0-focused investors in all things metaverse could make virtual real estate a very profitable asset class, especially for early investors who get in on the ground floor.
As with any investment, you should not invest more than you can lose.
Even though the virtual real estate market has grown a lot, it’s still a very new market, so investors should do their research and do their due diligence before they invest.
Decentraland vs. The Sandbox:
What’s The Difference?
Decentraland is a virtual world. There are 90,601 parcels of land. They can be grouped into estates (groups of lots), districts (groupings with similar themes) and plazas (community owned parcels). Decentraland has 3 types of tokens: MANA, WEAR and LAND.
The Sandbox has 166,464 plots of land. They can be grouped into estates or districts. The Sandbox has four types of Tokens: SAND, ASSETS, GAMES and LAND.
There are 2 different platforms. Decentraland is the older one and was the first to show people what it looks like to be in a 3D world on the Internet, or Metaverse. It has a game available now. The Sandbox only has the Alpha version of its game online now, but you can try it if you want.
Decentraland is run by a DAO, but the Sandbox is not. The interesting thing to note is that the Sandbox seems to have a plan for what it will do in the future. It may be because Decentraland has more experience and it doesn’t need to make decisions as much as decisions can be made by other people.
The Sandbox is better than Decentraland in terms of graphics. But you need to download a program that only works on windows to use the sandbox. Decentraland has something that allows people to talk without any way for the server where it is stored to know what they are saying.
Other Competition in The Metaverse
There are other decentralized universes that you should watch out for. Somnium Space is one of them, and it is similar to Decentraland and The Sandbox. This universe has digital land, items, and services that people can buy. It also allows people to edit or create things for this universe. Somnium Space is open-source so anyone can edit it or make changes if they want to.
The Enjin Network is a network of games. This network has a lot of games. Facebook also has a metaverse, which is like a virtual world for people to play in. But this metaverse will probably not be decentralized, but centralized like Roblox.
AND OTHERS :)!
🚀Mirandus Land
🚀Axie Infinity Land
🚀Treeverse
🚀Ember sword
🚀Somnium space
🚀Illuvium
🚀Bloktopia
🚀Ovr
🚀Dvi🚀Dvi
Which is Better?
I cannot say which is better at this time. The Sandbox is still in Alpha mode and has not been through many battles like Decentraland. The Sandbox has better graphics and runs smoother than Decentraland, and the Sandbox is more centralized than Decentraland right now.
Building a metaverse on top of Ethereum with centralization would kill the benefits and purpose of using Ethereum’s blockchain. Some projects start out centralized, but they decentralize over time, which is something that The Sandbox claims to do in the future.
B O N U S N E W S:
The OVR AI website is a whole new universe of virtual mapping of the world. And now Istanbul is almost finished!
Financial Disclaimer: This is not financial advice. I am not a financial advisor. This account is for entertainment and expressing my opinions. Please do your own research and make your own decisions.
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