How to Buy Your First Land (Virtual, of course)

Practical guide to start investing in digital properties

Buying land for your business has many drawbacks.

You have to work it, pay a price (often disproportionate), deal with water and electricity costs, not to mention driving to where you are.

Wouldn’t it be easier to put your business on the computer screens of hundreds of thousands of people?

Wouldn’t it be easier to buy the land with a “click” without having to haggle with anyone?

This is the question that has been asked by thousands of investors and companies looking to take their businesses to the virtual world.

Either they’ve grown tired of what they have in their city, or they want to make a big bet on the future. Regardless of their reason, we’ve put together a  guide to buying virtual land in the metaverse without having to read an instruction manual.

By the time you have finished this article, you will consider yourself a full-fledged virtual investor. Let’s get started!

Don’t forget your wallet

The metaverse does not work the same as the real world.

To pay for an item, you can’t just pull your card out of the bank and happily type in the pin number.

This is because the metaverse works with cryptocurrenciestherefore euros are worthless there.

It’s like going to Japan and trying to pay for a purchase in dollars.

Nobody wants them there!

Therefore, you will have to make a currency exchange.

To do so, you will have to open a wallet in the metaverse, which would be the equivalent of your wallet in real life.

With it you will be able to exchange euros for Ethereum and make purchases and sales of virtual objects.

The most famous wallet applications are: MetaMask, Ronin Wallet and Trust Wallet.

If you search for any on the Internet, you can open an account in a matter of minutes.

The only problem we encounter here is that often the currency exchange commissions are very high, as are the buying and selling commissions.

They are called “gas fee” and fluctuate greatly depending on the time of day.
Therefore, if at a particular time they are very high, you can wait until later to lower them and make the transaction.

Buy a virtual land!

Now that we have virtual money, we will be able to buy virtual properties.

To do this, the first step is to find out which platform you want to use.

Right now there are hundreds of virtual worlds available for investment, making the decision a real puzzle.

We advise you to find out how many users each platform you are interested in has.

The higher this number is, the more likely you will be able to sell at a good price in the future.

And in case you have a business, the more exposure you will have.

We recommend you to invest in Decentraland and SANDBOX, as they have a large number of users and are the most famous virtual lands right now.

If you want to check all the available options, go to the Open Sea page to find out about all the virtual land for sale.

This site is like a digital real estate agency, but instead of selling only houses, they also sell NFTs of all types and colors.

It also has the advantage that they use a verification system for each project.

That is, if you are going to buy land on a secure platform, it will have a small blue “tick” next to the name, indicating that it is a project verified by the Open Sea team.

Once we know which platform we are going to invest in, it is time to choose a house.

Within each virtual world there are different locations and types of land, so you need to find out which are the best areas and what the prices are.

Most virtual worlds have some areas that are clearly better than others, either because they are more central or better known.

On the Open Sea page you can sort the properties in order of price to try to buy the cheapest (or the most expensive, if you want).

Once you have made your choice, all that remains is to close the transaction.

Closing the deal

When you bid or buy a virtual property, the Open Sea website will connect to your (virtual) wallet to proceed with the payment.

The system will check if you have enough balance to pay the price of the item and the commissions, and then the transaction will be executed.

After that, you will be the owner of a virtual land.

Welcome to our neighborhood!