How to Buy Virtual Land in Metaverse - 1

Investing in virtual real estate may have sounded a bit silly a few years ago, but today, the situation is very different. You can now buy virtual lands in digital worlds such as Decentraland (MANA), and thanks to the metaverse, investors' preferences have started to change in this direction. In this post, we've gone over what you need to know to learn how to invest in virtual real estate to get an introduction to the world of the Metaverse and get an early start in potential metaverse land grabs.

What is the metaverse?

Metaverse is often described as an alternative digital reality that combines virtual reality, augmented reality and augmented reality where people can work, play and live digitally. Metaverse is a term and concept that has been around for over three decades, but today, the idea of ​​metaverse gained popularity after Facebook announced its plans to become a metaverse company. As a result, more and more investors began to explore investment opportunities in this rapidly growing new field.

What is a virtual land?

Real estate is one of the most popular asset classes in the world and now also exists in the digital space. Virtual land is intangible land that exists in virtual worlds. Like physical land, it is sold as land and can be purchased using the currency of the specific land. Today there are several virtual worlds that allow you to buy virtual real estate, Decentraland is the most popular of them. In June of this year, a piece of land in Decentraland with a total value of more than $900,000 was sold. Investors can make virtual pieces of land available and monetize them: If you have a virtual land, you can host private events or parties and charge those who want to attend. For example, American rapper Snoop Dogg hosted a private party on The Sandbox's NFT platform to rebuild his real-life mansion. Participants were required to have an NFT providing access to the event. Investors can earn regular income from their virtual territory. For example, you can build a virtual house on your virtual land using NFTs and rent it with a monthly income.

How to buy LAND in Decentraland?

Decentraland is a blockchain-based virtual reality platform that allows users to buy land, play games, host events and interact with each other in a variety of ways. Each piece of LAND in Decentraland measures 16 meters by 16 meters and is represented as an NFT. The number of pieces of land in Decentraland is capped at 90,000. Anyone can buy, rent or sell land in Decentraland through OpenSea, an NFT marketplace, or through Decentraland's official Marketplace. Now that you know what Decentraland is, let's take a closer look at how you can directly buy land in Decentraland in the second part of our article.