Investing in virtual real estate is on the rise, and knowing how to buy land in the metaverse can open up new opportunities for ownership and profit in the digital world.
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Metaverse is an advanced digital world based on technologies such as virtual reality, augmented reality, 3D realistic avatars, and more realistic virtual experiences. It connects humans from all over the globe for digital concerts, conferences, and virtual trips. It also provides a realistic virtual experience for connecting with friends and relatives.
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Step-by-Step Guide on How to Buy Land in Metaverse
Metaverse has enormous potential for making money online. According to current industry estimates, revenue from virtual gaming (VR) could reach USD 400 billion by the year 2025, and the estimated value of the Metaverse could reach USD 1 trillion.
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Users can earn some extra cash online through metaverse technology. According to the Statista Survey, the popular monetization sources include play-to-earn games (60%), virtual Property (39%), data monetization (37%), and other investments (36%).
The Metaverse is the most trending technology in the future. Facebook CEO Mark Zuckerburg declared that the company would launch the Metaverse in five years. After Facebook changed its name, the Metaverse became a market trend. Big tech companies invest much money to create the NFT and metaverse world.
The metaverse concept has many definitions because every organization defines it in its specific way. However, the core concept of the virtual world remains the same in all the respective definitions.
In the novel Snow Crash, the Metaverse is described as a virtual reality environment connected to the Internet and accessible from any device with an active Internet connection, such as a smartphone or computer.
The Metaverse offers immense opportunities for socializing with people, learning new skills, and exploring your passion. Minecraft is a metaverse gaming platform that provides enormous opportunities to socialize with people virtually. But Before We go directly to how to Buy Land in the Metaverse, we all need to know what real estate is.
- Real Estate
There are several opportunities for making money through real estate in the Metaverse.
- Real estate brokering
With the increasing demand for virtual Land, virtual real estate brokers who can connect buyers and sellers or advise as real estate brokers and earn a commission are needed.
- Renting
Like the real world, you can easily rent digital properties to make money. Virtual Properties can also be used for advertising, especially in high-traffic areas.
- Real estate management
Real estate management is another good way to make money through the metaverse platform.
- Real estate designing
Real estate design is a very lucrative business, as it involves conceptualizing and bringing to life plots of Land. The need for specialized 3D designers will soon become one of the most demanded jobs in the virtual world.
How to Buy Land in Metaverse?
So, in this article, we will talk step-by-step about how to buy Land in Metaverse by purchasing virtual estates from the Decentraland. To accomplish the mission, you all need to understand the following steps regarding purchasing the Land in Metaverse:-
- Step 1 is Selecting a Metaverse Platform
- Step 2 is Setting up your own NFT or any of the cryptocurrencies in your Wallet.
- Step 3 is to connect your Wallet to Decentraland.
- Step 4 is Buying Ethereum Cryptocurrency via Binance and moving your Buying Currency into the Wallet.
Select Metaverse Platform
Choosing a Metaverse Platform is essential for buying the Land in the Metaverse Virtual World. Choosing the Metaverse Platform is the first step you need to take to invest your money in virtual real estate in the Metaverse. As your true purpose is to purchase Land in the Metaverse, you must decide which Metaverse Platform you want to choose and what you will eventually do when buying your Virtual Land.
According to Experts, Decentraland is the best platform for buying Virtual Land. This article lists other Metaverse Platforms available for buying Virtual Real Estate.
- Decentraland
The main motto of the Decentraland in the Metaverse is role-playing in the Metaverse. After its development, it will become the fastest-growing Virtual World in Metaverse. In the Decentraland, you have the right or freedom to create the best scenes or any application that you want to add. You can buy or sell your Virtual Property with huge benefits and earn lots of profits.
- SandBox
The Sandbox Game’s main plot is to be perfect to set up the Metaverse.
Sandbox holds the highest number of parcels, popularly known as the LAND, amongst the four platforms, with a total of one hundred and sixty thousand, and the price of one piece of Land in the Sandbox is estimated at $11,000 upwards per parcel. You will get the quality of the Property to sell for between $20,000 and $30,000 per parcel.
- Somnium Space
Somnium Space is a digital universe providing its users with an immense dynamic virtual reality experience. This Metaverse Project is based on Ethereum Blockchain Technology. Somnium Space is a Virtual place where users can interact and buy land parcels. They can fully customize their Land with buildings and houses and trade in assets. It is a place where users can explore other players’ creativity and visit restaurants or museums.
Somnium Space has 3D modeling software, allowing you to create or construct your land parcels easily. This Software Application is also called Somnium Space Builder.
In Somnium Space, you can import things like Avatars and earn with your virtual Land through these platforms. Virtual Assets are represented by the tokens and purchases recorded on the SOloana or the ETH blockchain. In Somnium Space, the parcel goes on an average of $11,500.
Those interested in acquiring the limited parcels will purchase smaller plots for between $2,000 and $4,000.
Set up Your Wallet
To purchase Land in the Metaverse, you must create your Crypto Virtual Wallet to purchase the required assets. The best Wallet available to land on any platform is MetaMask.
Suppose you use a desktop computer to download Metamask from the Google Chrome Extensions. You can download mobile phones from the Google Play Store if you use mobile phones, especially Android smartphones. If you are an iOS user, MetaMask is not available right now.
Setup Your MetaMask Account
To purchase the Metaverse Virtual Land, you must register the MetaMask and set up your crypto wallet using the Google Chrome extension or the mobile app from Playstore.
- You may refer your Wallet to the Wallet Support Page for references.
- You can check your seed by clicking on the Phrase Option. After clicking, you will see 12 words for the seed phrase. These 12 Seed of Phrases will help you to locate your Wallet.
Congratulations, you have successfully created your MetaMask Account, and your Wallet is fully Set up.
Link Your Crypto Wallet To the Decentraland
After getting the successful creation of MetaMaks Wallet in your Chrome extension on your browser, you can now link your Wallet to the Decentraland by following some of the steps:-
- To connect, navigate to Decentraland and click on Account in the top-right corner.
- Now Select the ETH wallet and click on the BUY Option
- After that, follow the steps that you added to your payment.
- However, paste your MetaMask Address with the amount you want to transfer.
Buy Ethereum Via Binance and Move to Your Crypto Wallet
After successfully linking your Wallet to Decentraland, your Currency, such as MANA and ETH, will be added to your crypto wallet. This Currency will help you buy virtual real estate or bid for Land in Decentraland.
To buy it, you can purchase Ethereum through MANA, which is suitable for trading in Binance. With your Binance Account, you can credit or Debit your MANA and ETH and transfer them to your Metamask Wallet.
To Purchase the MANA or ETH on Binance:-
- Deposit your Money into the Binance Account.
- It is doubtful that there is an exchange of crypto where you can easily trade your USD currency with the MANA at this time. So you must acquire cryptocurrency listed in your Currency in pairs with the MANA or even the ETH.
- The trade must be going on the native tokens. These tokens will be used in Decentraland.
- After that, Search for the Currency you want to pair and use as a MANA/ETH.
- In the BUY Section, choose the quantity of MANA and the ETH you need to complete the transaction.
- But Before completing the process, read all the Information about the Price and the Fees Carefully.
- Now you can make a Purchase.
Choose Your Virtual Assets
To Choose your Virtual Assets, you only need to navigate the Decentraland Marketplace. Once you reach there, you can open the market, go for the “Land” section, and look for the Property you would like to purchase.
Now, Follow the direction of the game and complete the transactions.
Now, the transaction is done, and after that, you can see a new virtual property listed in your Wallet with a quick peek.
Narinder Sharma is a highly skilled Full Stack Developer with a deep passion for Web3 technology and blockchain innovations. With a strong background in Fintech API development, smart contracts, and decentralized applications (dApps), he is committed to building scalable and secure Web3 solutions. Narinder stays at the forefront of emerging tech trends, bridging the gap between traditional software development and the decentralized future.
🚀 Passionate about smart contract development, DeFi, NFTs, and Layer 2 scaling solutions.📈 Dedicated to pushing the boundaries of Web3 adoption and blockchain infrastructure.