The metaverse is a huge trend right now and many people are wondering how to buy land or real estate in some of the top projects such as The Sandbox or Decentraland.
The first thing to know is that you are going to need to know how to navigate a crypto wallet and interact through your browser.
Metaverse crypto assets are assigned to an Ethereum address. In the same way that your Ethereum address can hold ETH the currency or ERC 20 tokens (coins), it can also hold claim to land in the form of an NFT.
To be clear upfront – you are probably going to need to spend a minimum of $8,000 – 10,000 to obtain metaverse land and also enough ETH to pay the gas fees on transfer!
Step 1 – Install Metamask in Your Browser & Sign Up for Gemini
Visit this link and install Metamask if you do not already have it. If you do, chances are you are already familiar with how to buy crypto assets and NFTs.
Create a new account and make sure to save your backup seed phrase! Never share it with anyone as it is the key to all of your assets.
Advanced users can choose to use a Trezor or Ledger through Metamask. This just means that Metamask will interact with a marketplace on behalf of your hardware wallet, which must be plugged in to your computer. This option provides more security.
There is also Metamask for mobile but it can be a bit harder to navigate for beginners.
Step 2 – Decide Which Metaverse Land to Buy
This step is important because it will determine what crypto you need to purchase land in the metaverse.
We can offer the following tips, but don’t treat it as financial advice:
The Best Land to Buy in the Metaverse
The most popular upcoming project with solid fundamentals and an incredible community is The Sandbox Game.
They have a built in game editor and huge IP has already joined such as Snoop Dog, The Walking Dead, Adidas, Atari, and more.
The recently completed their Alpha Phase 1 and Phase 2 is coming soon.
This is likely the best option until proven otherwise.
The Cheapest Metaverse Land
Even though we consider it the best, The Sandbox also has some of the cheapest land price wise. Decentraland used to be the lowest cost option but the floor there has risen to about 4 ETH whereas Sandbox Land can still be purchased for less than 4 ETH.
The Sandbox is already moving to Polygon on Layer 2, which means the gas fees will be much more reasonable and far cheaper in the future.
Step 3 – Purchase Crypto to Buy Metaverse Land
Very important! You are going to need to buy crypto and use that to buy land.
Depending on what land you choose, here is the type of crypto you need:
The Sandbox Game Land – ETH, SAND
Decentraland Parcels – ETH, MANA
Make sure to buy extra ETH in order to pay the hefty gas fees. This is an ongoing inconvenience until scaling solutions such as Ethereum 2.0 or Polygon are deployed.
You can use USD by clicking any of the options below.
To use crypto to crypto trustless, no KYC swaps, visit gg.exchange.
Step 4 – Buying Metaverse Land on OpenSea
The most active market for land is on OpenSea. Here you will find tons of available metaverse land for both The Sandbox and Decentraland.
Your Metamask wallet serves as your account. Anything purchased will be assigned to the active Ethereum address in Metamask.
View any assets you currently have by clicking your profile in the top right corner.
We have created some pre-set link filters that should help you sort between all of the assets more easily.
The search filters we recommend are “buy now”, “price low to high.” There are auctions as well but they require patience and constantly check back on the price fluctuations.
As mentioned before, you will need the correct cryptocurrency to exchange based on the listing. Sandbox Land is sometimes priced in SAND, and Decentraland Parcels are sometimes priced in MANA.
Always make sure you are on the verified profile for each metaverse project, as denoted by the blue checkmark!
Select land based on location if you want, from the image display. You can see who your neighbors are if they have added an image to their land profile.
Colors indicate the following:
- Orange – the land you are looking to buy
- Green – land owned nearby
- Yellow – Sandbox designated “premium” lands that originally came with special NFTs
A full map can be viewed here.
That’s it. Once your Ethereum address is assigned the land, you are now a proud owner of metaverse real estate!
Land ownership is essentially an NFT token that proves you own land with certain qualities, such as coordinates.
Looking for other ways to invest? Check out these guides: