How to Buy a Virtual Land in the Metaverse? – Beginners Guide
If there is something that has made us understand this recent decade, it is that the digital revolution is in full swing and Meta will be one of the pioneers in addressing its vision of reality for the future, this is what the technology giant called “ Metaverse.”
For many it is misleading advertising and a way to divert attention from all the rumors and controversies that have occurred around Facebook, without forgetting that the platform has suffered multiple crashes worldwide in the last year.
For Zuckerberg, in a decade the metaverse will have approximately 1,000 million users. Is it true? Could it be that the future has already arrived? Are we ready for virtual reality?
The conception of a virtual world is an idea that came to life with the arrival of the cinema at the end of the 19th century, today this seems to be much more than simple fiction.
Through the metaverse, we will be able to connect with the help of the use of some devices in a virtual world, we will even be able to interact with all its elements.
Literally, we will be able to teleport only using glasses. But this will not be as we are used to seeing in video games; The metaverse will not be a fantasy world, but a parallel reality, where we will carry out the same activities that we do on a daily basis, but directly from the room.
The term metaverse refers to a very famous novel called ‘Snow Crash’ published in 1992, where he used this word to describe visions of three-dimensional or virtual workspaces.
In the metaverse we will be able to interact with other people using a virtual environment, only similar to external reality.
The main idea granted by the Meta company (previously called Facebook) is to create a parallel and completely virtual universe where we access using certain devices that allow us to increase our reality.
Another of the key points regarding the metaverse is that the main idea is that it be totally immersive or at least as close as possible to reality; For example, if we wear glasses in real life, those glasses may be very similar when we dive into the metaverse.
Body language will also be something very similar, thanks to some facial recognizers that are configured in the devices.
But if you don’t like this, don’t worry. The metaverse will give you the option to create an avatar completely different from yourself, you can give it a different look; your environment, your business, your room will be depending on your tastes.
It is very similar to a virtual reality game like, for example, “The Sims ”, where you create a character and choose a destination. Many of these games have an online community where you can permanently interact with other users through the network.
The metaverse can become the great digital leap of the internet or simply remain a utopian idea. It’s still too early to know if it’s really good or just misleading advertising. Currently, it is just a blank canvas.
Meta says that she hopes the metaverse can offer many more opportunities than the real world does; You can even create your own business.
We will be walking down some virtual street, where we will observe virtual people with their avatar, go to a user’s business, have a virtual house, a virtual land or even try virtual food.
It will also have other practical applications, such as bringing all co-workers together where everyone connects from home, without having to go outside, something that would have been very practical at the time of the pandemic.
Local economy of the metaverse
It is expected that the metaverse can also present a local economy, that is, establish its own virtual currency with which we can access through real money or earn coins within the metaverse through some form. Can you imagine it? What does your brother do? Do you work in a virtual store in metaverse?
But do not think that the metaverse will be something only of the Meta company, there are already many companies dedicated to technological advances that have shown advances in their metaverses; however, Meta hopes that it is her metaverse that prevails over all.
This becomes something of a race to the moon, as the company that prevails will control payments, the economy and business within the metaverse.
It is believed that micropayments will be used within the metaverse, that is, being able to change our avatar’s clothes in the same way that we change our clothes in real life and obviously that the sexual market may also reach the virtual world, pay for certain intimate actions with other people or pay for more things than we pay today.
The metaverse is barely in its early stages of gestation. What the Meta company did was present an idea of what the project would be and, of course, inject large amounts of money so that this could go from being an idea to a real project.
The technology for the metaverse is not yet available, there are no virtual devices to be able to enter the metaverse in the way that Meta presented it. We are still very far from that conception that Zuckerberg told us.
What is a reality is that it will come to revolutionize the world as we know it, where a lot of money will be made through multiple virtual businesses. Are you ready for the metaverse?
The idea of buying a virtual piece of land may sound very absurd, but that’s what we thought 10 years ago when the first cryptocurrencies began to appear. Since the arrival of the metaverse was talked about, many investors have spent large amounts of money to be able to acquire virtual real estate.
This week, the renowned New York company Republic Realm announced the purchase of virtual land for a value of 4.3 million dollars on The Sandbox portal, a website specialized in virtual spaces and land, in fact, on that website many people interact and even go to concerts.
In mid-November, the cryptocurrency firm Tokens, acquired several digital lands in one of the world’s busiest platforms in terms of virtual reality Decentraland.
Even the embassy of Barbados stated that they would possibly acquire land to place an embassy in the metaverse.
This type of web portals are characterized by virtual reality experiences, although they already have some time, with the arrival of Meta, all this from the metaverse has caught the attention of many people.
According to data collected by the Dapp website in recent weeks, a total of 100 million dollars in land and virtual properties have been sold on the main metaverse sites: The Sandbox, Decentraland, CryptoVoxels and Somnium Space .
Much more time is needed for the metaverse to be fully available; however, from the point of view of real estate, people who acquire land can make uses of it, either by buying, selling or even renting.
The fifth Avenue
Just as it happens in the real world, being well positioned geographically is something that costs a lot of money. Tokens was very clever and acquired an excellent piece of land in one of the most exclusive districts of Decentraland, where the platform wants to promote a luxurious area, specifically related to fashion and haute couture.
Andrew Kiguel, director of the firm Tokens, who has 20 years of experience in investment banking, commented that this purchase has been really valuable, so investing in virtual land in the metaverse is not crazy.
In fact, a replica of a Gucci brand bag was sold on Roblox in May for a much higher price than in real life.
Decentraland’s fashion street will soon be as exclusive or more exclusive than New York’s Fifth Avenue itself, as Kiguel puts it.
If all this has interested you and you also want to be part of this real estate boom, you can also have your land in the metaverse, as long as you have good capital.
There are many platforms in charge of virtual realities and universes, the most famous are The Sandbox, Decentraland, CryptoVoxels and Somnium Space.
Of these four, the ones that are much more booming are Decentraland and The Sandbox and it is where most investors are placing their money.
Decentraland is a huge community, it is a virtual reality platform based on blockchain, where users can play, interact with each other, buy land and even organize events.
Within this virtual universe, each virtual land has a size of 16 × 16 meters, the number of plots within Decentraland is barely 90,000, although it is believed that more will be added soon.
Anyone can acquire a plot on this platform, using Offshore, a specialized NFT market or through the official Decentraland market.
The easiest and safest way to buy a plot is through the official Decentraland market. What do you have to do?
- Head over to the Decentraland Marketplace .
- Sign in or sign up if you don’t have an account yet.
- After creating your account.
- Click on the “Packages and properties” option.
- Then click on “See all”.
- After seeing all the available land, neighborhoods and areas of Decentraland, select the land that you like the most. The advantage of being able to buy directly on the platform is that you can see the entire neighborhood in addition to seeing the surrounding areas and the proximity to popular areas.
- Once you read the description well, choose your land and click on the “ Read in detail ” option. Here you can see all the generalities of the land, the availability and the name of the owner.
- Click on “Buy” to formalize the purchase of the property.
- To make any purchase within Decentraland, your wallet must be directly connected to your account, as the property will be sent directly to your wallet as an NFT once the purchase is verified and successful.
- In case you don’t have a wallet, don’t worry, Decentraland works with wallets like MetaMask, Binance and Trust Wallet. To make the purchase, make sure you have enough MANA or ETH (Ethereum).
- It’s also important to have some extra chips to offset the cost of gas taxes.
- Once the operation is carried out, confirm your land in your wallet.
- If you used other wallets such as Trust Wallet, confirm the purchase in the “Collectibles” option. In the case of MetaMask in the “NFT” option.
The entire operation of this platform is due in part to Ethereum smart contracts, the heart of the NFT system, tokens and blockchain interaction.
Unlike Decentraland, it has an average availability of 166,000 plots and properties can be much cheaper. To be able to buy a piece of land in The Sandbox you just have to:
- Create an account in The Sandbox and use a wallet, such as Binance.
- Once you have it, you must buy $SAND tokens through an exchange of your choice.
- Once you make the purchase of the $ SAND tokens, you transfer them to your wallet in The Sandbox.
- Visit The Sandbox marketplace and review all the properties you like, whether it’s a parcel, land or real estate just like you do in the real world.
- Check location, neighborhood details, value, resale prospects before you buy.
- Select the option to buy land to close the deal.
Do you dare to be part of this real estate boom in the metaverse?