Decentraland metaverse is one the fastest-growing virtual worlds operating on a blockchain network. Every activity on the platform, including its governance and decision-making system, is decentralized. Therefore, a user of Decentraland metaverse has absolute control over whatever virtual property he owns.
The above narrative brings us to the most important asset on the platform – LAND. Decentraland metaverse allows its users to build houses and experiences. Likewise, the platform owns a few arenas within the virtual world.
All the buildings, parks, and public spaces in this metaverse platform were built on virtual land. Accordingly, individuals or organizations who want to own a spot in Decentraland metaverse must set up their outlet on a piece of LAND.
In this article, you will learn essential facts to know when purchasing LAND, alongside the steps to buy LAND in Decentraland metaverse.
What you need to buy LAND on Decentraland
Virtual lands are non-fungible tokens, and they are blockchain-based assets. Accordingly, you can only store virtual land as collectibles in a crypto wallet. These wallets allow exclusive and anonymous access to your digital assets.
You may install and set up the popular MetaMask wallet or any other wallet that allows you to connect with web 3.0 applications. Proper backup of your wallet is an essential step. The last thing you would want is to lose access to your wallet and your LAND forever.
Decentraland metaverse is an Ethereum-based platform. Although it has its utility token known as MANA, you also need ETH before you can perform transactions. ETH is the native cryptocurrency of the Ethereum network. Therefore, all payments on the network require gas fees which users pay using ETH.
After setting up a wallet, fund it with MANA and ETH (for gas fees) or only ETH (for purchase and gas fee). When a funded wallet is ready, visit the Decentraland website to sign in.
Where can you purchase virtual lands of Decentraland metaverse?
The in-game NFT marketplace is the best place to buy LANDs. Generally, all virtual lands on this platform belong to Decentraland because no one can list LANDs of other metaverse projects here. Also, you can instantly get to know the features of a piece of LAND from the marketplace.
You may visit the website from your device’s browser or the browser of your crypto wallet. On the website’s homepage, click “MARKETPLACE,” then click “SIGN IN” to connect the platform with your wallet.
Decentraland metaverse allows direct user connection when browsing from a wallet and also offers browser-connection options such as Coinbase Wallet, imToken, WalletConnect, and Fortmatic.
Connecting from a wallet
Users browsing from a crypto wallet will find connecting with the Decentraland marketplace easier. Once you click on “SIGN IN,” there will be a pop-up of a list of options.
Select “MetaMask” (even when you are not using the MetaMask app or its browser extension). After that, authorize Decentraland to access your wallet.
Connecting from a browser
If you are connecting from a mobile browser, consider the following steps to using WalletConnect:
- Select WalletConnect among the sign-in options
- Choose whether to authorize directly from the mobile device or to use a QR code
- If you select mobile authorization, WalletConnect will open your crypto wallet.
- The crypto wallet will display all the information about Decentraland and the service you authorize.
- Click “CONNECT” to continue.
After that, the marketplace will connect with your cryptocurrency wallet and display your MANA balance alongside other Decentraland NFTs you may own.
Click on “Land” to access the map of land parcels in the Decentraland metaverse. Since LAND owners can name their properties, a buyer may instantly use the search tool to find a particular LAND.
Likewise, the marketplace has a filter that can help narrow your search scope. With the filter, you can arrange available virtual lands by cheapest, recently listed, recently sold, and names of the LANDs.
Moreover, buyers can choose whether they want to see only single pieces of LANDs known as “Parcels” or only a combination of LANDs known as “Estates.” After selecting a preference, click “APPLY” to utilize the filter.
Buyers can also find good LAND deals on this universal marketplace. Currently, the minimum price of Decentraland’s land parcels on OpenSea is 1.7 ETH ($3,150).
When you select a piece of LAND, OpenSea might display the property’s location (if stated by the owner) or coordinate. Scroll down to view its price, and you can buy immediately or make a different offer.
Unlike the Decentraland marketplace that only accepts MANA, OpenSea allows you to buy LANDs using MANA, ETH, or even your debit card.
How to recognize genuine LANDs and ESTATEs
Generally, LANDs on Decentraland’s official marketplace are genuine. There will be a maximum of 90,601 pieces of land in Decentraland’s Genesis City. Each LAND has a coordinate on the map of Genesis City.
When you select a parcel on this map, the platform will display its coordinates, how close it is to a strategic location, road, or district, and its price. You can even jump into the land in Decentraland metaverse and see its features yourself.
On the other hand, a third-party market like OpenSea will not display all those information. Consequently, buyers need to verify manually before making a payment. The following are ways to ensure you are buying a real LAND on OpenSea:
- Make sure the Decentraland collection you select has a blue mark (verified).
- When you click on a LAND parcel, select the second icon at the top-right corner. The icon should direct you to the particular LAND on Decentraland’s official map. Confirm that the coordinate on the map matches the coordinate on OpenSea.
- Click on “Details” to verify the LAND’s contract address.
Note: the current contract address of Decentraland LAND tokens is 0xF87E31492Faf9A91B02Ee0dEAAd50d51d56D5d4d.
How to buy LAND in Decentraland metaverse
On Decentraland marketplace
If a selected LAND or ESTATE location and information match your need, click on “BUY” to pay immediately or place a bid to pay a different price.
You will have to authorize the payment on your crypto wallet to complete the exchange. Remember, you can only buy LANDs with MANA on Decentraland. Meanwhile, you also need ETH to pay the transaction fee.
After confirming the authenticity of a LAND parcel, you may pay the current price or make an offer. OpenSea will also ask you to confirm the payment on your crypto wallet. Unlike Decentraland, you can buy LANDs on OpenSea with ETH.
Owning a LAND in Decentraland metaverse makes you a participant in a growing virtual world alongside Atari, Sotheby’s, and other brands entering the metaverse.