Here's how you can buy your own plot in metaverse


From popular celebrities like Snoop Dogg, to record label Warner Music Group to Gucci, HSBC Bank many big brands are buying land in metaverse these days. All these brands have different plans for their plot in the virtual world. Recently, Indian Singer Daler Mehendi also jumped on the bandwagon and named his land “Balle Balle Land”. Right now, Decentraland and The Sandbox are the two major metaverse platforms where you can buy the land. Also Read – How to play Holi in the metaverse

There can be two reasons why one would want to buy land in the virtual world. Firstly, you want to make use of that land, as in, host events with friends like Snoop Dogg who calls its land Snoopverse. He can host concerts for his fans on his virtual land. Buyers can even choose to be a neihbour of their favourite celeb, for a hefty amount of course. Notably, the first metaverse fashion week is also being organised right now in Decentraland. Another reason is for the investment’s sake. There are high hopes that the prices of real estate in the metaverse will increase dramatically in the near future. Also Read – Tech Mahindra introduces its new Metaverse to interact with customers

How to buy land in Metaverse

You can buy a plot in metaverse by paying in cryptocurrencies, especially in Ethereum. For the gamified platform, The Sandbox, SAND is the currency whereas MANA is associated with Decentraland. You need to have these currencies to make a purchase in the metaverse. Also Read – MWC 2022: Mark Zuckerberg calls for support to build metaverse

You will also need to have virtual wallets that can store NFTs like Metamask or Binance. Once you buy a particular land, the sale and ownership of the land are recorded via the transfer of NFTs. The transfer will take a few seconds as it will verify if your digital wallet has enough currency to buy the said land, after that it will be conveyed that you now own the land legally.

There are third-party resellers like nonfungible.com and opensea.io that are basically real estate agents for metaverse who can list properties and prices of virtual land and help reach potential buyers.









Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here