Metaverse became a much debated topic in 2021. With the renaming of Facebook to Meta, the topic came into the mainstream. Furthermore, more and more metaverse tokens attracted the attention of the market. You can even buy digital lots in a metaverse. How does it work?
In this article, we explain how to buy land in the metaverse and how this market may develop in the future.
When it comes to the meta-verse, we are talking about a digital space where users of the meta-verse can interact with each other. The word is a combination of “meta” (beyond) and “universe”. The term is used to describe the concept of a future form of internet consisting of shared 3D spaces.
When it comes to the meta-verse, we are not just talking about a single place. There may be several metavers that form the new digital world. The digital spaces can also exist on the basis of blockchain. There are digital worlds like Decentraland or Sandkassen that are completely decentralized.
You can buy a piece of land in the meta-verse as digital land. The digital land is a non-fungal token (NFT). These are non-exchangeable tokens based on blockchain. This makes NFTs unique. The digital land that you can buy as a ground in the metaverse is also unique.
Virtual land can serve different purposes in a metaverse. In many metavers, the party is just virtual land on which virtual real estate can be built. With games in the meta-verse, you often get benefits 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 meta-verse, and you can offer these lots for rent just like real lots. The functions of the plots differed from metavers to metavers.
As mentioned earlier, virtual land in the metaverse is NFTs. These are unique and cannot be reproduced. NFTs clearly clarify ownership in the digital space. An acquired land in the metaverse is uniquely assigned to the owner and cannot be taken from the owner.
Space in Metaverses is generally limited. Dso virtual land in a metavers becomes 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 predicted that digital properties will become more and more valuable in the future.
More and more companies are also going out into the metaverse to buy land there on which they can open stores 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. Players can earn passive income from the property through rent or raw materials. This attracts more investors.
If you want to go to the meta-verse yourself and at the same time buy a plot (virtual land), we will give you one below Instructions:
Find a virtual land marketplace
The first step to virtual land is to choose a marketplace where you can buy the land. Most of the metavers are based on the Ethereum blockchain. You can buy Ethereum-based NFTs on several well-known NFT trading platforms such as OpenSea. Other options are classic crypto exchanges such as Binance, Coinbase or Kraken.
The respective metavers or games show you the right platform on which you can buy the property. These platforms mostly have the trading platforms as partners and indicate where to buy their properties.
Choice of the virtual property
Each metaverse offers a different number of digital parties. These differ in many ways, such as size and rarity. You can often view a list of the different properties on the trading platforms.
Connect the wallet to exchange
To buy a digital batch in the meta version, you need cryptocurrencies that you can use to pay for the item. So you should connect your own wallet to the trading platform so that you can pay with your wallet tokens.
You should find out which cryptocurrency the respective virtual country can use to pay. Most often, 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 stock exchange, you can now go to the property and complete the purchase with your cryptocurrencies.
The virtual properties of the metaverse are usually very expensive. Prices often start only at several thousand euros or only 1 or more ether. Many investors speculate about the price increase over time. However, this speculation is often associated with a high level of risk and can lead to large losses.
This can happen if the property itself becomes less valuable. However, a bear market in cryptocurrencies can also mean that you can lose a lot of money, at least in the present. Here you need to be patient and trust that the crypto market is rising again.
Moreover, metavers are still relatively new, and investing in them is always associated with risks. You should make sure that you do not accept a questionable offer and thereby be duped. It is therefore a good idea to buy land on established and well-known platforms such as OpenSea.
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