How to Sell Lands in Metaverse in 2022

What Are Metaverses, and How Were They Invented?

The metaverse is an environment where real and virtual worlds are merged together. This can take various forms — for example, property owned in the virtual world is also owned in the real world. And some elements from the real world are transferred to the virtual one, where users can interact with them without real-world consequences. This opens up new opportunities for learning, entertainment, experimentation and discovery.

Metaverse and Blockchain

Blockchain has become an almost ideal technology, which perfectly fits the concept of Metaverses. Now there are more and more new projects focused on this area, and the most successful of them are Decentraland and The Sandbox blockchain platforms.

  • True Ownership: Users can store their avatar on the blockchain in the form of an NFT (Non-Fungible Token), for example, as an ERC-721 token on the Ethereum network or a BEP-20 token on the BNB Chain. NFT simplifies the practice of copyright and intellectual property since all records in the blockchain are immutable. That is, they cannot be forged or deleted. To transfer the NFT to another owner, it is enough to exchange it through a smart contract or simply transfer it from your crypto wallet.
  • Real tokenomics: each digital copy on the blockchain has real value, and the token can be sold through a DEX exchange or an NFT marketplace.
  • Network security and user independence: the blockchain is decentralized, which allows it to be freely used by any users regardless of any factors and conditions. This includes censorship: companies can centrally block access to specific users both to the metaverse itself and to its individual objects or spaces.
  • Openness and transparency: each participant of the ecosystem can contribute to its development by finding vulnerabilities, adding improvements to the source code of the project or offering interesting ideas for implementation.

How to Sell a Plot of Land in the Metaverse

Before you sell a plot, you need to get it somehow. This can be done in at least three ways:

  • Create a plot yourself. Developers rarely provide such an opportunity to users. Otherwise, the amount of land will simply become unlimited, and they will cost very cheap, preventing their owners from earning in the future. In some cases, you can negotiate with the Metaverse platform and develop and launch the sale of your own land plots, but it will be much more expensive than just buying land during the sale or even on the marketplace. The value of virtual lands is that their number is very limited, which ensures an increase in prices for plots with a growing demand for the metaverse.
  • Buy a plot of land on a token sale or receive it as part of an NFT drop. These methods allow you to get land at the lowest price. The higher the demand and more users the metaverse has, the more expensive the land will be on marketplaces later. However, the competition will also be higher. In addition, you risk losing your invested money if the sale of land does not turn a profit, but this rarely happens, especially with large platforms like Decentraland or The Sandbox, whose sales usually cause a huge stir even during the correction period in the crypto market. Accordingly, you will be able to sell it profitably. Platforms at early stages can even distribute plots to everyone for free or for being active in their project, for example, for creating content, promoting on various platforms, attracting users to Discord, and so on.
  • Buy a plot of land on an NFT marketplace. Finally, the easiest and fastest way is to buy land on trading platforms. As a rule, their price is much higher than on the token sale, but there is no such high competition, and you do not need to wait in line to get on the Waitlist and buy land through IDO. In addition, it also happens that the price drops after the sale, and you get the opportunity to purchase plots at a lower price than on the token sale. True, this happens quite rarely and, mostly, only with failed projects.

Choosing a Marketplace

As a rule, each metaverse, such as Decentraland or Sandbox, has its own NFT marketplace where users can buy and sell digital objects. However, only NFTs belonging specifically to this metaverse can be sold on these platforms, and the audience is limited.

Sale of Land on the Metaverse Marketplace

We show how to sell your plot of land in the metaverse using the Decentraland platform as an example. The list of lands is displayed on the “Lands” page. Please note that on the Decentraland marketplace, you can only sell those plots that belong to this metaverse. NFT marketplaces like OpenSea provide an opportunity to sell plots from any Metaverse.

Sale of Land on NFT Marketplaces

If you own a piece of a well-known Metaverse, then most likely its collection has its own page on the OpenSea marketplace:

Conclusion

As you can see, it is very easy to sell a virtual plot of land! Demand for virtual real estate remains high, which makes these plots very valuable, given their limited number.

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