Table of Contents
What is the Metaverse?
Before we dive into how to buy land in the metaverse, let’s get down to the basics. Here’s what the Metaverse actually looks like and how it works. Even if you’re not a Web3 and crypto enthusiast, you’ve probably heard of the Metaverse – everyone talks about it. When Facebook changes its name to Meta in 2021, the Metaverse becomes part of major news stories and mainstream conversations. Since then, everyone has been intrigued by the idea and what it means for the future. Simply put, the metaverse is a new version of the internet where people can interact with avatars in virtual worlds. It is a mixture of the words “meta” and “universe”.It’s worth noting that the concept of Metaverse and Metaverse games isn’t particularly new. Online virtual worlds like Second Life were popular in the early 2000s. The term Metaverse is even older—it comes from a novel called Avalanche, published in 1992.
While we don’t quite have the technology to implement metaverses in their full sense, there are already many. They come in the form of video games, most of which use blockchain technology. Some examples are games like The Sandbox and Decentraland. Many of these are play money games, which means players can earn profits by playing.
Blockchain technology in Metaverse games not only allows players to interact in the virtual world, but also to own land in the virtual world, as well as other digital assets in the form of NFTs.
What Is Land in the Metaverse?
Current metaverse games generally correspond of different areas and offer plots of lands players can buy. In other words, these are digital parcels players can enjoy in a virtual world.Land in the metaverse is anon-fungible commemorative, which means it’s unique, inflexible, and there can only be one proprietor. Because land isn’t only unique but also verifiably scarce, these NFTs are veritably precious. In fact, they’ve real- world value and they can be traded for cryptocurrency and indeed edict currency.
What’s the Purpose of Land in the Metaverse?
Primarily, land in the metaverse is where druggies can produce a variety of gests , host events, and indeedmini-games. likewise, players can make on it and enough much produce whatever they suppose of. For illustration, galleries, stores, and pavilions.still, there are other ways in which druggies can use their metaverse land. As I formerly mentioned, it can be vended and therefore druggies can earn plutocrat from it. likewise, land can also be precious for advertising. It’s easy to see how brands would be interested in placing announcements on similar parcels. also, numerous brands formerly enjoy land in the metaverse, hoping to offer services the same way they would in the real world.
Flash back, all of this is just the morning. As technology advances and further people get interested in the metaverse, there may be indeed more uses for land in the metaverse.
Should I Buy Land in the Metaverse?
Because land NFTs are precious and tradable, and the metaverse real estate request is roaring, numerous are allowing about investing in it. While there are numerous benefits of retaining metaverse land, there are also some pitfalls that come with it. Then’s an overview that will help you make that decision.Benefits of Buying Land in the Metaverse
One of the main benefits of buying land in the metaverse is that it has real- world value, indeed though it’s virtual. As I mentioned, each parcel of land is an NFT that you can trade and conceivably make a profit. This is especially true for those who get in early and reap the benefits when virtual real estate becomes indeed more precious. Still, it’s not each about investment and the possibility of making a profit. By copping land in the metaverse, you get the occasion to make on it, show off your game means, and enjoy all the fun gests .risks of Buying Land in the Metaverse
While the decision to buy land in the metaverse may be a good one, as it’s a great investment, it also carries pitfalls you need to be apprehensive of.Because the crypto request is relatively unpredictable, your land might lose its value. It can be overnight. We ’re presently in crypto downtime, i.e., bear request, and land prices are dropping. So if you have n’t bought virtual land during the bull request, buying now is a potentially good investment occasion.
still, all investments have a threat factor, both in the real and virtual world. The most important thing is to understand all the benefits and pitfalls that come with it and see what’s the stylish decision for you.
How much Is Metaverse Land?
How much you ’ll need to pay for land in the metaverse depends on numerous different factors. Primarily, which metaverse you choose, which parcel in that particular metaverse you choose, which blockchain the metaverse operates on, and how scarce the land is.For illustration, if you go with a popular metaverse game where utmost of the parcels have formerly been vended, you can anticipate high prices, as land there went up in value. How big the land is is also a factor. likewise, if you want to buy land in decoration areas, you can anticipate decoration prices,e.g., Fashion Street District in Decentraland.
also, in metaverse games that use the Ethereum blockchain, you can anticipate to pay gas prices for the sale, which adds to the final land cost. The price also depends on the current state of the crypto request, as changes can drive land value both over and down.
To give you a better idea of the prices, see the sections below – I give exemplifications of the cheapest and the most precious metaverse land parcels.
Cheapest Metaverse Land
Because the crypto market is unpredictable and changes every day, it’s hard to tell what the cheapest metaverse land is.But just to give you an idea, in Axie Infinity, the cheapest parcels are about 1 AXS (1 AXS = 13.25 USD on July 13th, 2022). The floor prices for The Sandbox and Decentraland’s land parcels are about 2 and 2.5 ETH respectively. In Cosmic Universe, they’re about 2 MAGIC. If you like Illuvium, you can be a land owner for just 0.3 ETH, which is quite cheap. Similarly, land in WorldWide Webb recently dropped to 0.4 ETH. You can convert ETH to USD here.
This gives you an idea of how much you’ll likely need to spend to purchase the cheapest land in popular metaverses.
However, remember that each metaverse has different prices when it comes to land. Furthermore, because ETH has dropped amid the crypto winter and there are many changes in the market, expect these values to shift as well.
The Most Expensive Metaverse Land
At the moment, the most expensive metaverse land sale was in TCG World where 19 commercial real estate properties were sold for $5 million to Curzio Research. The company bought this land to create virtual headquarters in the TCG World.The second biggest sale happened in December 2021 for a whopping $4.3 million! It was in The Sandbox metaverse and it was purchased by Republic Realm, a group of developers from Atari.
Another big purchase was for Fashion Street Estate in Decentraland, which was sold for $2.4 million.
How to Buy Land in the Metaverse: 5-Step Guide
In this simple 5-step guide, I’ll teach you how to buy land in the metaverse. By following these steps, you’ll be an owner of a metaverse land parcel in no time!1. Choose a Metaverse
The first thing you need to do is choose a metaverse. As I mentioned, the most popular metaverse games where you can buy land are Decentraland, The Sandbox, Axie Infinity, WorldWide Webb, Gods Unchained, Alien Worlds, My Neighbor Alice, Illuvium, Sorare, etc.However, you may also want to go with a less popular metaverse – it’s all up to you and your preferences.
Here are a few things you should consider when choosing a metaverse game:
How fun and exciting is the game
How big is the community
How it’s set up
Land scarcity
Land prices
Potential for profit
2. Set Up a Crypto Wallet
Most metaverse games require you to have cryptocurrency to buy land. Because of that, you’ll need a place to store it – a digital wallet.There are many different crypto wallets out there and which one you choose depends on the metaverse you’ve chosen. You need to make sure that the wallet supports the cryptocurrency you need for that particular metaverse.
For example, if your metaverse of choice is on the Ethereum blockchain, you should go with a top Ethereum wallet like MetaMask, if you want a digital wallet or Ledger Nano, which is a physical wallet. Similarly, if the metaverse is on the Harmony blockchain, you might want to go with CoinBase wallet or Mathwallet.
3. Purchase Cryptocurrency
Once you’ve set up your wallet, you’ll need to fill it up with some cryptocurrency. Once again, the type of cryptocurrency you’ll need depends on the metaverse. The most popular ones are ETH, MANA, and SAND.4. Connect Wallet to a Metaverse Game
Before you can buy land in the metaverse, you need to connect your wallet to a metaverse. The process for this step depends on the game so I recommend you check out the game’s FAQ. It’s usually fairly simple, even for beginners.5. Choose Land in the Metaverse and Purchase
Now that you’ve set up and connected your wallet, here comes the fun part. Choosing the land parcel and making the purchase. But how do you choose which parcel to buy? Here are some basic guidelines.10 Metaverse Platforms
There’s still a chance for you to join the Metaverse, so there’s no need to horrify. Then are 10 effects to keep an eye on if you plan to join the Metaverse in 2022.
Decentraland( MANA)
Decentraland has a request value of nearly$5.6 billion. Decentraland, a social virtual macrocosm, contains the Metaverse. MANA has doubled in three months, despite a December drop. Decentraland is the first decentralized online setting and largest metaverse cryptocurrency. Its decentralized tone- governing association( DAO) has important smart agreements that power the Decentraland metaverse, most specially the LAND agreement, which allows druggies to trade digital come down on the network. Decentraland druggies may monetize their LAND with creation, videotape games, and other attributes. MANA is Decentraland’s native commemorative and may be used to buy LAND, wearables, characters, names, and other effects on the request.The Sandbox (SAND)
Sandbox is the second-most-popular metaverse coin. Its native SAND coin has soared 1,670% in recent months, outperforming Decentraland. The Sandbox has a DAO architecture like Decentralnd. The Sandbox is reportedly built on Ethereum, like Decentralnd. This blockchain is meant to permit smart agreements using virtual land and other assets. The goal of this blockchain is to facilitate smart contracts involving digital real estate and other assets. While the SAND token was initially used in the Sandbox, it is now being replaced by Polygon’s layer 2 options due to their reduced transaction prices and faster processing times. The Sandbox is an online platform where anyone from across the world can instantly build, own, and market their games using the SAND Token on the Ethereum Blockchain. Gamers can design non-fungible symbols (NFTs), publish them, and use them in renowned artists’ games.
AXIE INFINITY( AXS)
Anybody who has n’t been living under a gemstone has heard about Axie perpetuity. With its beast- suchlike incorporations and the options it offers to its players, this blockchain- grounded metaverse game has astounded the globe. Players have made sizable totalities of plutocrat while engaging in their favourite pastime, gaming. On Axie, numerous people hold full- time jobs. AXS and SLP, two of Axie’s native currencies, power the Ethereum blockchain metaverse idea. Each player has a unique part. The administration commemorative is AXS. AXS possessors can bounce on updates and how the storeroom balance is used. AXS is among the top metaverse coins, and its value climbed 200 in 2021 alone. Smooth Love Potion icons can be gained through fights or experience. SLP commemoratives can replicate Axies. As the game’s fashionability grew, these creatures came more precious, a trend that continues in 2022. Since players can snappily pay out in- game currency, this design is doubtful to change soon. One of the most pivotal metaverses of the time is Axie perpetuity.GALA (GALA)
Gala is a blockchain- groundede-sports platform that gives gamers a position to freely exchange virtual goods by fusing the excitement ofe-sports with the advantages ofnon-fungible commemoratives. In addition, Gala includes a variety of blockchain- grounded social games fixated erecting connections and linking individualities. Crawler Tank, Town Celebrity, Mirandus, Fortified, and also Glasses of Empire are several of the games that are presently available. The position of control and possession granted to gamers is just one of the blockchain task’s solid top rates. This is substantially completed with fete, the game’s indigenous electronic commemorative, which is used throughout the system for network governance, prices, and knot motorist provocations, to name a many points. Gala is also used to get electronic products, similar as NFTs, by means of the game’s shop and gamer assiduity. Gala guests may make and also modify their characters, just like in other metaverse blockchain- grounded videotape games.
Enjin Coin( ENJ)
The Enjin commemorative, erected on Ethereum’s blockchain as an ERC- 20 commemorative, can be used to buy virtual goods and boost the worth of virtual real estate. As an added perk, the platform’s native energy currency, ENJ, may be used to announce and buy virtual goods. The Enjin platform also includes a request for swapping goods and services. Thanks to this point, both gamers and programmers can freely trade their wares on a request without fussing about being taken advantage of. To be more precise, Enjin is a service that facilitates the easy perpetration of Ethereum symbols for both commutable andnon-fungible means in videotape games.
Metahero (HERO)
New to the metaverse is a product called Metahero, whose core functionality is the 3D scanning and posterior creation of characters grounded on factual people and physical objects. The launch- up declares to have actually mounted a scanning chamber in Doha that scans products and also develops an online, 3D variation for the Metahero macrocosm. As if this wasn’t entertaining sufficient, characters may be substantiated with a variety of bents as well as capabilities from classes similar as Enchanter, Elementalist, Close Battle Specialist, Spellcaster, Mind anthology, Variety Combat Professional, as well as homicide. Besides this, gamers might level up their rookies as well as a profession or offer the NFT that content their accounts. Eventually, if you wonder about how everything works, unique Meta scanners are employed to not just overlook yet also publish and also produce brand-new in- game characters. also, they’ve partnered with Wolf Studios and the cryptocurrency idol, whose native mileage commemorative is valued at nearly$ 494 million on the request. Given that Metahero is still a kindly new idea, this quantum seems fair.
Celebrity Atlas( ATLAS)
Celebrity Atlas is a future- grounded, metaverse-dependent game where players can conquer land and gather coffers in the time 2620. ATLAS and POLIS, grounded on the Solana blockchain, are available from Star Atlas. The first, ATLAS, functions also to traditional in- game currency by granting access to the request and allowing players to engage in conditioning like battling, exploring, and trading. This is pivotal because, with a many exceptions, every property in the game is an NFT. In discrepancy, POLIS lets people get involved in “ political conspiracy, ” as the inventors put it. also, players have agency in the games they play and can frequently outvote contrivers. suppose of it like any other price- grounded game, where you earn currency by completing tasks and having fun. still, the benefits then have a reasonable chance of success. likewise, the game is created on the Solana blockchain, giving it a substantial advantage over Ethereum- grounded systems in terms of dealing costs. The company is presently worth further than$ 134 million on the stock request.Bloktopia
Bloktopia’s hutment- themed metaverse development scheme strives to give a medium where druggies can study, meet new people, execute business, and try out colorful jobs in a 21- story structure. Due to deficient construction, this Metaverse will calculate on mortal donation and imagination. While important about this forthcoming design has n’t been blazoned, there have been some interesting hints, similar as a WWE area. Bloktopia plans to produce new material and plutocrat sources for metaverse residers. situations 1- 6 will be available upon launch. The riddle is what’s within.High Street (HIGH)
Highstreet is an advantageous metaverse idea. You can shop in the online cosmos using HIGH, like others. Some Shopify sites link to the gaming platform. Its mixed digital experience distinguishes it from rivals. Half-virtual, half-physical model adds curiosity. NFTs are essential to the platform’s success, and many businesses can be onboarded so their items can be NFTs. HTC funded the project, which raised $5 million in August 2021. It’s worth roughly $85 million since January, and it’s up 90% since its debut in October 2014.Cryptovoxels( CVPA)
Inspired by Minecraft, Cryptovoxels is a metaverse erected on Ethereum. thus, this metaverse consists of a vast system of connected digital fabrics and infinitely customizable land blocks. While Ethereum( ETH) is accepted for property deals on OpenSea, Cryptovoxels uses its own currency( CVPA). On OpenSea, parcels can be traded for ETH, but Cryptovoxels has its own currency( CVPA). These might also be bought using OpenSea and relate with wharf in Cryptovoxel’s morning City. As an NFT, guests hold exclusive guardianship of each land piece, called Voxels. Gamers may moreover produce or vend their online home or marketable things, which comprise adding bills, signage, and music recordings. Cryptovoxels, one of the first metaverse endeavours, has erected a great community that has only grown, performing in further innovative NFTs. Accordingly, Cryptovoxels is a job to bear in mind in 2022.Final Thoughts on How to Buy Land in the Metaverse
As I ’ve illustrated in this composition, getting a metaverse land proprietor might be a great investment. likewise, it adds an instigative subcaste to blockchain gaming.still, the decision to buy land in the metaverse is yours to make. Flash back that you can also rent land in the metaverse, which might be a great option if you ’re not ready to buy just yet.
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