Saturday, February 4, 2023

Why You Should Buy Land in The Metaverse

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Virtual land has become one of the most popular and promising investment options lately, and many crypto investors buy it and hope to sell it later or use to earn some money. However, there are many things to consider, including the fair price of a certain plot, its value, and so on. In this article, we explain why people trade digital land, how to buy your own plot, and how to earn in the process.

What’s so special about virtual land

Metaverses has been very popular for about a year now, and some enthusiasts call them the future of all virtual interactions. It’s not yet clear whether that’s true or not, but these virtual worlds really revolutionize the way we look at digital assets, and one of the most interesting aspects is that they allow you to own and trade virtual plots of land.

While buying virtual land may seem like a waste of money to people not that familiar with digital assets, it makes perfect sense: more and more businesses with their products and services migrate online, and they need their own marketplaces, galleries, and showrooms. And that’s just one of the many possible applications of these digital assets. But will these assets’ prices ever grow?

First of all, major tech companies are heavily investing in metaverses right now, including Meta. Many investors who rush to buy their own land push the price further up, but that doesn’t seem like a hype-based thing. The official Metaverse and many other metaverses may become a new norm, so if you’re quick enough to buy land in the Metaverse, you can then sell it for more.

How to buy virtual land

Basically, all these lands in the Metaverse are simple NFTs, unique blockchain-based tokens which can’t be counterfeited. That’s what makes them ideal for proving your ownership. The process of buying your own piece of land is very simple. First, open your crypto wallet. If you don’t have one, just create one (for example, Coinbase): go to the website, click Get started, and just follow the instructions. Make sure to prepare your ID for verification.

Now you can deposit funds to your account with a debit or credit card, bank transfer, and so on. Then use your wallet to buy the coins of the project you’re interested in: if you want a piece of land in Decentraland, buy some MANA. Then just register on the project’s site, choose a piece of land (16×16 meters), and click Bid. If the owner confirms your bid, your MANA will be spent, and you will become the owner of that land.

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