The Ultimate Guide To How To Buy Metaverse Land

How to buy metaverse land when the heat of metaverse lands never subsides, while investors can maximize the monetary value of metaverse lands like real property. Many choose them as a unique way to create events and services or master their lot on Robinhood island. Just less than a year ago, the average price of the smallest and cheapest metaverse land available piece of land on Decentraland and the Sandbox, two of the largest metaverse platforms, was less than $1,000. Currently, it is approximately $13,000.

You may purchase NFT metaverse land via the land sale of a project or by using an NFT marketplace to buy directly from landowners. To obtain the property, a digital wallet and bitcoin are required. Additionally, land may be sold to other users on different platforms, and rental mechanisms will be accessible in the future.

Together with bePAY, discover other benefits and risks related to metaverse land. In this post, bePAY will also try to show you how to buy metaverse land with its step-by-step guides as well as further information about metaverse land. 

What Is Metaverse Land?

Land inside a metaverse project that is represented by a non-fungible token (NFT) is virtual real estate. In this situation, the NFT is a property deed that verifies your ownership of a certain property, analogous to buying real estate in the physical world.

In general, the native token of the metaverse project may be used to buy a metaverse plot of land. In certain instances, fiat cash can also be used. A parcel’s worth is mostly influenced by its size, location, and scarcity. In addition, the popularity of the metaverse to which it is tied is crucial.

What is metaverse land?

Metaverse land may be used for an assortment of objectives. In the majority of metaverses, they may be used to 

• Construct a virtual home on 
• Establish and run a virtual enterprise
• Host activities, contests, or experiences.
• Earn money via leasing.
• Speculate on the market for virtual land.

Best Place To Buy Metaverse Land

Let’s discover the list of the best places where you can buy metaverse land.

Opensea 

Opensea, the best place to buy metaverse land is a centralized platform for trading assets across many metaverses.

Select the virtual environment and parcel of your choosing, then continue with the transaction. Before purchasing, you need to also click this redirect symbol to check the information on the genuine metaverse marketplace:

Opensea simplifies the process by placing everything on one webpage.

In addition, individual cryptocurrencies may be purchased using a credit card on Opensea without the need to first acquire them on an exchange.

Opensea metaverse land buying platform

Decentraland

Decentraland is a well-regarded metaverse endeavor. Its native cryptocurrency, MANA, frequently ranks at the top of the metaverse coin rankings.

Decentraland enables Metamask wallet registration and MANA purchases.

MANA is accessible on major cryptocurrency trading platforms, such as Coinbase, Binance, Huobi, etc. Therefore, you must acquire MANA on one of these marketplaces and transmit it to Metamask. Additionally, you will need ETH to cover transaction costs.

Finally, you may choose a package and click the “purchase” or “bid” button. Bidding enables you to submit whatever price you see as appropriate with an expiry date, leaving it to the owner to accept or reject.

Decentraland metaverse land buying platform

The Sandbox

The Sandbox follows Decentraland as the second-best metaverse project to purchase land in. The Sandbox allows registration using a number of methods, including Metamask, Coinbase, and Bitski. In addition, you may use Facebook, Google, or Twitter to sign up for the Vinyl wallet.

The manner of purchasing property in The Sandbox is similar to that of Decentraland. Similarly, you must own its native cryptocurrency, SAND, plus some ETH in order to make a purchase.

After depositing SAND into your crypto wallet, you may peruse the LANDS sections under the MARKET page to make your selection. After that, the transaction is completed with a few taps, including pressing the Buy Now button and signing in to your wallet.

The Sandbox metaverse land buying platform

Somnium Space

Somnium Space is a relatively new metaverse whose marketplace is managed by Opensea. It is compatible with virtual reality, but the majority of its established competitors are not.

You must link it to Metamask and use ETH to acquire the desired parcel.

Somnium Space metaverse land buying platform

CryptoVoxels

The CryptoVoxels metaverse is another Ethereum-based virtual world on the list. It is compatible with Metamask, Coinbase, Torus Wallet, and Wallet Connect signups.

One may either purchase the item on the official website or examine it on Opensea using the links provided for each shipment. The cheapest metaverse land is now at 1.899 ETH.

CryptoVoxels metaverse land buying platform

Upland

Upland is a relatively young metaverse with land costs that do not exceed hundreds of dollars. This is distinct since each property has a real-world address.

Another distinction is the signup procedure, which does not require a cryptocurrency wallet. Instead, you must create an account using your email address and password to have access.

The Upland registration provides you with 4,550 UPX, the local currency. A seven-day visa confers the status of a visitor. When the visa expires with a one-day grace period, you may renew it by simply signing in. If you fail to do so, your UPX will be returned and you will need to begin over.

Upland metaverse land buying platform

For purchasing property in Upland, a higher status as an Uplander is required. This indicates ownership of 10,000 UPX, which may be acquired on the site using PayPal or cryptocurrency.

Once you reach this point, navigate the maps, choose the property, and follow the on-screen prompts. In addition, all Uplanders’ assets are stored on the blockchain, ensuring their immutability.

ERTHA 

ERTHA is a life-simulation metaverse that has partitioned the planet’s territory into hexagonal plots that are for sale. Each ERTHA land parcel hosted on the Binance Smart Chain is unique in its resources and location.

Buying property in this metaverse is comparable to what we have described so far. Select the desired hexagon and then click ADD TO CART to begin. Select one of the subsequent alternatives (BNB, USDT, etc.) to open the Metamask and finish the transaction.

You may also copy the payment address, send the funds, and wait for confirmation.

ERTHA metaverse land buying platform

How To Buy Metaverse Land?

How to buy metaverse land NFT land is the same as purchasing any other NFT. To begin with, you just need a wallet and some crypto. As with any investment, it is essential to do your own research prior to taking risks.

Step 1: Select Platform.

You must pick a metaverse platform before acquiring metaverse real estate. Your motivations for purchasing the property will impact your selected project, which we shall discuss in the next section. This article will use The Sandbox on Ethereum as an example. Decentraland is an additional common option.

How to buy metaverse land?

Step 2: Create A Wallet

You must create a wallet to have access to the currency you own. You have the option of using a mobile wallet or a browser-based wallet, depending on your choice. Using a browser-based wallet, however, is often less troublesome.

The MetaMask and Binance Chain Wallet are also viable solutions since they support many blockchains, but always ensure that the wallet you choose is compatible with the blockchain of the NFT region.

You will get a string of words known as your seed phrase during wallet setup. This will enable you to recover your wallet in the event that you lose access to it. You should always keep it in an offline place. 

>> Learn more about how to create Metamask wallet

Step 3: Connect Your Wallet To The Sandbox Marketplace In The Third Step.

On The Sandbox’s map, there are land parcels up for bidding. Others are hosted on other exchanges, such OpenSea. To keep things simple, let’s look at one we can bid on via The SandBox.

Prior to putting any bids, your wallet must be linked. On The Sandbox’s map, in the upper right corner, click [Sign In]. Assuming we’re using Ethereum as our example blockchain, make sure your wallet is set to use that blockchain.

Login to crypto wallet

Click [MetaMask] thereafter.

You will be prompted to join MetaMask through a pop-up. Select [Next]

Connect to Metamask wallet setup

To continue your wallet’s connection, click the [Connect] button.

Connecting to Metamask wallet

The Sandbox will now request that you provide an email address and a moniker. Then click [Continue] to complete the account creation. If you want to use the SandBox editor, you may also supply a password on a voluntary basis.

To complete your MetaMask account, click [Sign] on the page requiring your signature.

Transferring in Metamask

After successfully connecting, your account balance and profile photo will appear in the upper-right corner of the page.

Step 4: Acquire Sand Or ETH From Exchanges And Move It To Your Wallet.

To acquire or bid on the land, your wallet must have either SAND or Ether (ETH). Buying ETH will likely be more beneficial since the majority of The Sandbox exclusively accepts ETH for land sales. You may purchase SAND or ETH using a credit card or debit card.

After acquiring cryptocurrency, it must be transferred to a cryptocurrency wallet. Use your bitcoin wallet’s public address as the withdrawal address.

Step 5: Select a LAND lot

Metaverse plot of land

Using the choices provided below, you can easily sort through The Sandbox’s available land for bidding or acquisition. The majority of The Sandbox property has already been acquired, so you will often only find accessible land on OpenSea. Nevertheless, you may still bid on these deals using the Sandbox map. As OpenSea connections are included in the SandBox map’s user interface, it is also possible to the easiest method to confirm that you have purchased a legal NFT Metaverse plot of land.

After locating the land you would like to acquire, you may either click [Bid] to submit a bid or the ETH value to purchase it at a set price. Let’s examine placing an offer by clicking the [Bid] button.

Detail of metaverse land

A pop-up will now appear, allowing you to make an offer. Enter the bid amount and click [Place Bid] before finishing the transaction with your wallet. The cryptocurrency will be refunded to your wallet if the seller rejects your offer or the transaction concludes.

Place a bit on SAND metaverse land

If you click the set price, you will be sent to OpenSea to finalize the purchase. Prior to acquiring the land, you must connect your wallet to the marketplace. You may also submit an offer via OpenSea if you do not want to use The Sandbox.

What Can Metaverse Land Be Used For?

With virtual land values reaching all-time highs, several investors have been accused of stoking a speculative NFT market. However, price speculation is not the only factor fueling the buzz. Land in the metaverse offers a possibility for many other users to monetize virtual goods and events occurring inside it. The following tendencies, from renting to preserving metaverse land, generate revenue:

Flipping Land

Users have the option of buying virtual land and reselling it for a profit.

Constructing Infrastructures

Instead of leaving a piece of land undeveloped, many users are choosing to construct a variety of virtual properties for themselves or for other users. This includes, among many others, digital casinos, clubs, performance venues, NFT galleries, and enterprises.

Brokering

Popularity of land NFTs has led to the rise of real estate brokers that, similar to their real-world counterparts, connect sellers with potential purchasers or just counsel customers on how to effectively manage their metaverse assets.

Advertising

Advertising locations in the metaverse with high foot traffic are becoming more desirable for advertising reasons. This property may be rented out and used by businesses to market their goods and services.

Activities And Services

The purpose of the metaverse is to enhance and ease the development of new online experiences. As a result, metaverse land is utilized to hold events and operate services. Metaverses like the Sandbox also encourage users to create and share educational minigames and activities for the benefit of the whole community.

Maximize the monetary opportunities of metaverse land

Several major firms, such as PwC, Sotheby’s, JP Morgan, and HSBC, are now using the metaverse as a supplement to their real-world operations, enabling customers to access services and engage with personnel in a manner similar to that of the actual world. In actuality, a multitude of financial organizations has begun exploring more business potential in the metaverse by examining virtual real estate finance, metaverse mortgages, consumer loans, and cryptocurrency transactions.

Is Metaverse Land A Good Investment?

Before you can evaluate whether “Is metaverse land a good investment?” Let’s review these benefits and risks related to purchasing metaverse land. 

Benefits Of Purchasing Metaverse Land

Some of the reasons you should know how to purchase metaverse land include:

The Metaverse is only beginning to emerge and will certainly become a far greater part of our lives in the future. Consider purchasing property in some of our most popular cities before they become popular. We are still in the infancy of cryptocurrencies and the metaverse.

It’s a leveraged crypto investment: land values in the Metaverse are stated in a cryptocurrency. This implies that the value of the land may rise if the value of the cryptocurrency rises.

It’s a market for adolescents and young adults: This virtual acreage is an excellent opportunity for Metaverse residents to create enterprises. If you want to reach a younger audience, inexpensive metaverse land may be a more appealing advertising choice than conventional real-world alternatives such as billboards or television adverts. If virtual real estate is used more often, rentals will increase for landlords.

If metaverse land becomes a significant asset class, it may be used as a hedge against inflation. As land demand grows, so does the value of each parcel.

No one knows exactly when or if these metaverses will be permanent if they become widespread, but their cryptocurrencies, NFTs, and metaverse lands will increase in value.

Is metaverse land a good investment?

What Risks Accompany The Purchase Of Land In The Metaverse Land?

As with any investment, someone will ask, “Is metaverse land a good investment?”  Purchasing land in the Metaverse entails some risks. Starting with the fact that you cannot “live” on the property, it is strictly for investment and wealth creation.

Second, the profitability of real estate will be totally dependent on location, nearby development, and the actual acceptance of the platform over time. Unless you quickly sell the home, it can be some time before you receive a return on your investment.

According to a survey conducted by the professional social network Blind in 2022, just 13% of IT professionals purchase virtual real estate. Nevertheless, despite the hazards, there is no disputing that metaverse real estate has become an increasingly significant asset class for investors and may be essential for future portfolio diversification.

FAQs About Metaverse Land

Can Money Be Made With Metaverse Land?

Play-to-earn games on Metaverse will enable players to win cryptocurrency prizes. Although metaverse experiences no longer provide as many monetary benefits as they formerly did, they are predicted to grow more popular than conventional gaming approaches. Besides that, you can flip land, construct infrastructure, brokering, advertising, activities, and service on the metaverse land you’ve bought

Metaverse: Is It The Future?

As the notion of the metaverse begins to combine Web3 technologies enabled by blockchain technology, the future metaverse might resemble our current world in many ways and even replace certain real-world activities.

Why Should We Have Metaverse?

The significance of the Metaverse stems mostly from its industry- and process-agnostic nature. Similar to the Internet, it could be used for nearly any purpose, including gaming, employment, socializing, and research. It has the capacity to influence every part of our life, both professionally and personally.

Metaverse land frequently asked questions

Closing Thoughts

Investing in a metaverse project like Decentraland or The Sandbox via the purchase of virtual land may be a wise decision. The ownership of land and digital assets in a metaverse may enable people to construct homes or companies, organize events, and develop games or interactive experiences.

It may also enable individuals to speculate on digital real estate and generate rental income. Metaverse initiatives are still in their infancy, but their potential is immense. It seems probable that the next five to 10 years will be filled with even more fascinating advancements.