Skip to main content

How do I buy a lot in the Metaverse? - A complete guide

 


What is the metaverse?

When it comes to the metaverse, we're talking about a digital space in which users of the metaverse can interact with one another. The word is a combination of "meta" (beyond) and "universe". The term is used to describe the concept of a future form of internet made up of shared 3D spaces.


Sandbox

When it comes to the metaverse, we're not just talking about a single place. There can be multiple metaverses that form the new digital world. The digital spaces can also exist on the basis of the blockchain. There are digital worlds like Decentraland or The Sandbox that are completely decentralized.


What is a lot in the metaverse?

You can buy a piece of land in the metaverse as digital land. The digital country is a non-fungible token (NFT) . These are non-exchangeable tokens based on the blockchain. This makes NFTs unique. The digital land, which you can buy as a plot of land in the metaverse, is also unique.


Virtual land can serve various purposes in a metaverse. In many metaverses, the lot is just plain virtual land on which virtual real estate can be built. With games in the metaverse, you often receive advantages in the form of items, experience points and participation in auctions when you buy them.


You can make money by buying and selling digital lots in the metaverse and you can offer these lots for rent just like real lots. The functions of the plots differed from metaverse to metaverse.


Why is it worth buying a property in the Metaverse?

As previously mentioned, virtual land in the metaverse is NFTs. These are unique and cannot be reproduced. NFTs clearly clarify ownership in the digital space. An acquired plot of land in the metaverse is uniquely assigned to the owner and cannot be taken away from the owner.


Space in Metaverses is limited overall. Thus, virtual land in a metaverse becomes more and more valuable over time. Therefore, an investment in a property is considered an interesting investment for the future. Due to the principle of supply and demand, it can be foreseen that digital properties will become more and more valuable in the future. 


More and more companies are also going into the metaverse to buy land there on which they can open shops in the future. In this way, these companies can offer their products in the metaverse in the future and have a real presence in the digital world. 


Games in the metaverse are even more interesting for the individual. Virtual land is the basis for being able to fully participate in the game. The players can earn passive income from the property through rent or raw materials. This attracts more investors.

If you want to go into the metaverse yourself and want to buy a plot of land (virtual land) in the process, we will give you instructions below :


Find virtual land marketplace

The first step to virtual land is choosing a marketplace where you can purchase the lots. Most of the metaverses are based on the Ethereum blockchain. You can purchase NFTs based on Ethereum on numerous well-known NFT trading platforms such as OpenSea . Other options are classic crypto exchanges such as Binance , Coinbase or Kraken 


The respective metaverse or game shows you the right platform on which to buy the property. These platforms mostly have the trading platforms as partners and indicate where to purchase their properties.


Selection of the virtual property

Each metaverse offers a different number of digital lots . These differ in many ways, such as size and rarity. You can often display a list of the different properties on the trading platforms.


Connect wallet to exchange 

To buy a digital lot in the metaverse, you need cryptocurrencies, which you can use to pay for the lot. So you should connect your own wallet to the trading platform so that you can pay with the tokens of your wallet. 


You should find out which cryptocurrency the respective virtual country can use to pay. Most commonly this should work with the ether. A popular wallet for Ethereum, which you can also use as a browser extension, is MetaMask . 

After connecting your wallet to the exchange, you can now go to the property and complete the purchase with your cryptocurrencies.


What should you pay attention to when you want to buy a plot of land in the metaverse?

The virtual properties in the metaverse are usually very expensive. The prices often only start at several thousand euros or just 1 or more ether. Many investors speculate on the price increase over time. However, this speculation is often associated with a high level of risk and can lead to high losses.


This can happen if the property itself becomes less valuable. However, even a bear market in cryptocurrencies can mean that you can lose a lot of money, at least in the present . Here you have to be patient and trust that the crypto market will rise again. 


Furthermore, metaverses are still relatively new and investing in them is always associated with risks. You should make sure that you do not accept a dubious offer and are thereby duped. It is therefore a good idea to buy land on established and well-known platforms such as OpenSea.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more