Virtual Real Estate in the Metaverse
The Metaverse is a network of 3D virtual worlds focused on social connections. This global concept has become a new trend among tech fanatics, gamers and cryptocurrency investors. The concept of buying land in the metaverse is similar to how we buy land/property in the real world. We offer a detailed guide and tell you how to do it.
What is earth in the Metaverse?
A piece of land in the Metaverse is a piece of virtual real estate in NFT (non-convertible token). The acquired land can be used for practical or speculative purposes. The price of land in the metaverse is formed according to the same principles as for real estate in the real world: the cost depends on location, territory size, traffic and proximity to other important areas. You can buy NFT Land from virtual real estate projects or third party platforms such as OpenSea.
According to a report from the Republic Realm, which tracks projects related to the metaverse, the average price of land in the metaverse has doubled to $12,000 over a six-month period last year. Just like in the real world, the location on the map can significantly affect the prices of real estate in the Metaverse, making it more attractive for investment.
Sandbox
The sandbox is a community-driven platform where creators can monetize voxel assets and game experiences on the blockchain.
How to buy land in The Sandbox metaverse?
1. Set up your wallet
To participate in the sale of land, you need to create an account and connect a wallet to it. The purchased land will be stored in this secure wallet. Please note that once you create your account and link your wallet, you will not be able to change it. To create an account, go to the platform website. Here you will be able to login using Metamask, Bitski or Arkane.
2. Buy $SAND and $ETH
You will need $SAND to participate in the land sale. You can buy them on Binance.
3. Transferring $SAND tokens to your The Sandbox account.
Once you have purchased your $SAND tokens, all you have to do is send them to your Sandbox account.
4. Buy land on The Sandbox map.
Now that you have an account with $SAND and $ETH, you are ready to buy. In addition to $SAND, you will need $ETH to pay the transaction fee. Go to the map. Select one of the available lots and click on any of them. By choosing LAND or REAL ESTATE, you will find information about its location, size, blocks included and price. Once you have decided which plot you plan to purchase, click on the “Buy Land” button and complete the transaction using your wallet.
Opensea
OpenSea is a secondary market that is used to trade fungible tokens (NFTs), including The Sandbox LAND and ASSETs.
Step by step guide to buying land in OpenSea:
To find lands in OpenSea, follow these steps.
⦁ Go to OpenSea.io.
⦁ Type “Sandbox” into the search box at the top of the website. Click a result in the list. Make sure there is a blue checkmark next to the “Verified” result.
⦁ Install any additional filters to help you find the perfect land. You can set the listing type you want, set the minimum and maximum price you are willing to pay. You can also choose to view listings in certain currencies only.
⦁ After setting the filters, you will be able to view the library of available lands. Click on any of the available options in the results to view them in more detail. If you want to see the exact location of the land on the Sandbox map, click on the icon in the upper right corner of the list.
To make transactions in OpenSea, you will need a cryptocurrency wallet.
Buying land in OpenSea:
You can buy land on OpenSea through auctions, instant purchases, or by posting an offer. Let’s talk about each method in more detail.
Auctions
The principle of the auction involves bids from users. To place your coupon, click the blue “Bid” button on the lot page. Here you can also get acquainted with the tariffs of other users, timing and reserve.
How to place a bet? Follow these steps:
⦁ Select a currency.
⦁ Set the cost.
⦁ Confirm your offer.
By default, the rate is formed in US dollars. If you want to bet in ETH, use the OpenSea equivalent. Wrapped ETH (or WETH). Both Ethereum and WETH have the same meaning. After placing a bet, a message will appear in the wallet asking you to confirm the bet. An important feature of OpenSea: each bid activated 10 minutes before the end of the auction extends it for the next 10 minutes.
Instant Buy
In OpenSea, you can buy a property immediately without waiting for the auction to end. In this way, you can only purchase plots marked “Buy Now” from the seller. If you have enough funds on your balance, activate the option “Checkout” or “Add Funds” if the wallet needs to be replenished. At the final stage of the transaction, check all the conditions and confirm the purchase.
Offer placement
How to buy land that is not for sale? If you notice an interesting virtual piece of land, use the “Make an offer” function. The seller will receive your offer and review the terms of the potential deal.
Step-by-step instruction:
⦁ Set the currency.
⦁ Enter the amount for which you want to buy the plot.
⦁ Set a purchase deadline.
Confirm the deal and click the “Make an offer” button.
Cryptovoxels
Cryptovoxels is an NFT-based metaverse built on the Ethereum blockchain. Unlike The Sandbox and Decentraland, virtual earth is not a limited resource in the Cryptovoxels metaverse.
How to buy virtual real estate in CryptoVoxels?
⦁ Open your browser and go to the OpenSea Cryptovoxels Market.
⦁ Explore the collection and find the right piece of land.
⦁ Click the “Buy Now” button.
⦁ Agree to the terms of the marketplace and select “Checkout”.
It’s all! You are now the proud owner of Cryptovoxels.
Decentraland
Decentraland is built on the ETH blockchain technology. Land is traded on the platform as NFTs (non-fungible tokens) with coordinates corresponding to a specific location on the network, so no two parcels are the same. The world of Decentraland is divided into districts, each with its own unique content. Users can move around different regions to interact with each other, view and share content.
These areas act as an advanced targeting tool, allowing creators and businesses to more effectively target their content to very specific audiences. You can only make NFT purchases on Decentraland using Ethereum or MANA (platform native currency).
How to buy virtual real estate in the Decentraland metaverse?
⦁ Users must create an Ethereum wallet to secure their cryptocurrencies and newly acquired digital assets before making purchases or buying land on Decentraland. Decentraland recommends MetaMask, a cryptocurrency wallet that can be integrated into your web browser.
⦁ Link your cryptocurrency wallet to Decentraland.
⦁ Go to Decentraland and click “Accounts” in the top right navigation.
⦁ Select your ETH wallet and click Buy.
⦁ Follow the instructions to add a payment method.
⦁ Enter your MetaMask address with the amount you want to transfer.
⦁ After creating a wallet and linking it to Decentraland, you need to have MANA or Ether (ETH) in your cryptocurrency wallet in order to buy or stake virtual real estate in Decentraland.
⦁ You can make a purchase by purchasing Ethereum or MANA, which are traded on Binance.
⦁ Select your virtual asset. You need to go to the Decentraland marketplace to complete this step. Once it opens, go to the Land section and find the property you want to purchase.
⦁ Follow the instructions in the game to complete the transaction after you have identified the asset and started the process of acquiring it.
After the transaction, it is enough to look into your wallet to see your new virtual property in the list.
Upland
Upland is a real estate trading game that allows users to buy, sell and trade virtual properties mapped to real addresses. You can purchase land and earn income in the same way as when renting real estate. You can make a profit by selling your property if you own the land.
To purchase a property in Upland, you need to follow these steps:
⦁ Select the desired area.
⦁ There will be important information related to the ground in the menu.
⦁ When the seller’s price suits you, click “Buy”.
⦁ Click “make an offer” if you are not satisfied with the seller’s price and you can offer something better.
To buy land, you must have UPX, which is the official currency of Upland.
ERTHA
Ertha is a game where you can earn money hosted on Binance Smart Chain. The addictive gameplay reproduces the real environment, and the unique player-driven economy makes the game profitable. The scene for Erta’s metaverse is a globe divided into 350,000 HEX sections.
NFT HEX land plots are sold for ERTHA tokens. While the game is in beta, NFT HEXs are changing hands in anticipation of the game’s release. More than 2,000 lots priced between $200 and $500 have been sold to private owners in private NFT sales.
How to buy land in Ertha?
Currently, the store can only be accessed from the desktop. If you encounter a delay, be sure to enable hardware acceleration in your browser settings.
⦁ Go to the official Ertha website.
⦁ Register an account or sign in.
⦁ Find the plot you plan to buy. Available projects are highlighted in blue. Click on the title for details.
⦁ Add the HEX you are interested in to the cart.
⦁ To reserve a plot, click “Checkout” and proceed to payment.
⦁ Select the currency to buy.
⦁ Confirm payment.
⦁ After successful payment confirmation, the NFT process starts automatically.
To find out when your NFT will arrive, go here and paste your Metamask wallet address into the search bar. Usually purchased NFTs appear on BSCSCAN in less than 15 minutes. Congratulations, you have successfully purchased ERTHA NFT land!
Somnium Space
Somnium Space is an open and social virtual reality world built on the Ethereum blockchain. Buy land, build or import real estate and instantly use assets or monetize them.
How to buy land in Somnium Space?
⦁ Visit the NFT Market. First you need to go to the OpenSea Marketplace; it is an NFT market where objects are presented for buying or selling.
⦁ Find a place in Somnium Space through the search bar.
⦁ Choose a size. Once you go to the Somnium Space page, you will be able to view the various options on the left side. Here you can choose the land and the size of the plot, whether it is S for small, M for medium or XL.
⦁ Bet on the ground. Now you can see the different options available. You can select any of them and view the description of this site. You can now bid by clicking “Bid” at any price you want to buy the land for.
If you don’t want to bid and want to buy the land immediately, you can view the “Buy Now” option on the right and click it to view all the plots available for purchase at a glance.
Conclusion: So, now you know a lot about buying virtual land in the metaverse and we hope that this material will help you make the right decision. Wherever you buy virtual real estate, rest assured that this is an exciting journey and investment experience!
Have questions about buying virtual real estate in the Metaverse?
Contact our agent for assistance in choosing a virtual property: +1 888 345 0969
