Blockchain gaming has never been more fun, who would have thought that the virtual real estate market will have so much fuss about it? Buying land in the metaverse seems like a great investment now. In the metaverse, you can shop, buy, and sell; just like you do in the real world. It’s a new marvel and since this is just the beginning of the metaverse it’s hard for people to understand it. We are here to help you find the cheapest metaverse land to invest in.
Why is Metaverse Turning So Many Heads?
Metaverse is all the fuss nowadays, it seems like a bet on the future. The currency of the Metaverse is crypto, land can be bought and sold in an open market. The metaverse platform comes with properties from all over the world and you can buy any of them while sitting at home. The transactions are processed much faster and digital security is provided by the metaverse games.
With these games, you just don’t own land, but you can also build on it. The platform allows you to utilize the land to play games, Blockchain technology has allowed people to own digital assets safely, and the ownership of the assets can be proved easily.
Upon Bitcoin’s release, not many people took it seriously, while those who invested made insane amounts of profits. Technology is advancing rapidly, and in this day and age, we should consider all investment opportunities.
Metaverse Platforms That Show Promise
Several metaverse platforms might be worthy of your investment, even though the land in these platforms is virtual, it has created real-world value. The land prices majorly depend on the metaverse platform you pick. Some metaverse games are quite popular and it’s hard to find land there. Where most of the game’s parcels have been sold, you will find land scarcity and the prices of that land will go up. Games that are on the Ethereum blockchain include gas prices in the final cost of the land.
Otherside
It is still in development, the game seems very interesting. Otherdeeds are the currency of the game and you need them in order to purchase land in the game. The price starts at 1.5 Eth, it’s one of the more popular metaverse games and the 2nd trip event is happening on 25th March.
Decentraland
Properties, avatars, and items, this virtual world contains it all. You can access it via a web browser and the game’s pap is divided into 90,000+ parcels that can be purchased and traded off by the users. An estate can be made if you have a number of parcels. The token this game utilizes is called MANA, you need to own it if you plan on buying land in Decentraland.
The Sandbox
This game is an Ethereum-based metaverse that is perhaps the most popular in its category. Everybody likes Minecraft and this game utilizes the same graphic style ‘voxel’. The game found much fame when it was released and it is perhaps the most popular metaverse, it is supported by many celebrities and brands.
A lot of companies and brands have also bought land on this platform most notably TIME, Binance, and Warner Music Group. Through the OpenSea NFT marketplace, you can buy land, and Ethereum currency is utilized.
How to Buy Land in the Metaverse: Easy and Simple Steps
Here are the steps you need to follow to buy land in Metaverse:
Picking a Metaverse
The metaverse game you pick will determine the coin you will need to buy; you can choose from the above-mentioned metaverses or any other you prefer. Going with a less popular metaverse will allow you to buy cheaper land compared to the more famous platforms. If you desire to just make a small investment first before you dive into the metaverse then there are certain things that you should take into consideration when picking a metaverse, generally, the bigger the community is, the higher the prices will be in that metaverse. Land shortage, prices, and profit potential should also be taken into account.
Choosing a Crypto Wallet
A digital wallet is required to hold the crypto, the wallet you pick should contain the crypto you want to buy for your metaverse, a lot of the metaverse games are on the Ethereum blockchain, a wallet for example; MetaMask is equipped with nearly all the cryptocurrencies. As long as your wallet contains the crypto you need for your metaverse, you are good to go.
Buying Cryptocurrency
The land can only be bought using crypto, the type of crypto depends on the platform on which you will buy land, for example, the Sandbox game utilizes ETH and SAND. Always remember to buy extra Ethereum so, you can pay the gas fees. ETH, MANA, and SAND are the most popular cryptocurrencies in the metaverse.
Setting Up the Wallet to Buy Virtual Assets
The procedure for connecting your wallet to a metaverse differs and generally, it is displayed on their website in the FAQ section. Here, we will discuss the most famous virtual wallet, Metamask. It is available to the public in the form of a browser extension or mobile app and the wallet comes with nearly all the cryptocurrencies that one might require. This wallet is generally considered to be a hot wallet and you should be extremely careful when operating this wallet, never share your password and seed phrase with anyone. You can find all the steps of registration enlisted on their website.
Finding & Buying Land in the Metaverse
Now comes the most important part, you have to pick a land parcel and make the purchase. There are some basic rules you should follow especially if you are a newbie, each metaverse platform comes with different areas or districts with parcels of different sizes. The land parcels carry different resources on them so that is also something you should think about before buying parcels.
Buying the virtual land of your dreams is an easy procedure, all that is required is for you to click on the purchase button, and after the transaction is complete, you will be the owner of that land.
Now there are virtual real estate agencies for hire, they guide you in choosing the best land, if this is your first time buying virtual land, we recommend this option, it will be easy for you to find the best land to invest in as the agent will do all the research on your behalf, the land can prove to be a great source of passive income as you can rent it or sell it to earn profit.
Cheapest Land in the Metaverse
The market is ever-changing, so, it’s hard to tell just at what price you’ll be able to buy the cheapest metaverse land. Each metaverse has different prices, you’ll find high prices for land associated with the more popular metaverse platforms. Right now, crypto winter is going on and the prices have dropped, so, this might just be the time to invest and reap the long-term benefits. The cheapest land which is a 1×1 block in the metaverse, on crypto voxels, was going for 1.89 Ethereum on 15th Feb 2023, which is about the equivalent of $3324 now.
Final thoughts
During this crypto winter, the prices of virtual assets have dropped, and if you were planning on investing in virtual assets, there is no better time than the present. The process of buying land in the metaverse is quite simple. Despite the loss in cryptocurrencies, we have seen that they have made a comeback in the past, and blockchain technology contains a high level of security that people trust. From an investor’s point of view, this market gives you a platform to earn a profit, both short and long-term. People have gotten rich overnight by investing in the metaverse. However, all investments carry a risk factor with them, the most important thing is to do your homework before making any decision.
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