• Written by: Harpreet Kaur
  • Fri, 26 Nov 2021
  •   India

For many investors, actually buying land in the Decentraland is a massive step. It is an excellent way to multiply your finances. Every property portion is a non-fungible token (NFT, ERC 721), which means it is one-of-a-kind and cannot be crafted or recreated, just like real land. Decentraland also provides an option of getting a […]

Buying Land in Decentraland – Is Decentraland Land a Good Investment?

For many investors, actually buying land in the Decentraland is a massive step. It is an excellent way to multiply your finances. Every property portion is a non-fungible token (NFT, ERC 721), which means it is one-of-a-kind and cannot be crafted or recreated, just like real land. Decentraland also provides an option of getting a mortgage on land.

Anyone, at any time, can purchase, sell, or lease land peer-to-peer just on the official Decentraland Global market or through Opensea. Because all activities are processed on the Ethereum platform as truthful proof of purchase, when you own that land token, you formally and unequivocally own that plot of land. If you chose to invest and construct in Decentraland, you ought to be familiar with the following information. 

About Decentraland:

The Ethereum blockchain powers Decentraland, a virtual world framework. Information and software can be created, experienced, and monetized by consumers. The community owns the land in Decentraland forever, giving them complete control over their designs. On a blockchain-based parcel record, users can take ownership of digital land. Property owners have control over what material is published on their parcel of land, which is denoted by a set of cartesian coordinate systems (x,y). The information can vary from static 3D scenes to interactive systems like games.

Renting an offline property is costly, and Decentraland provides a more economical solution to own a property. Investors in this platform can do the following:

  1. Buy property
  2. Design landscapes
  3. Shop
  4. Create businesses
  5. Play world games
  6. Socialize and chat

Decentraland Marketplace: What can you buy in Decentraland?

The Marketplace is your one-stop shop for trading and managing all of your Decentraland on-chain investments.

  1. You can sell Parcels of land and estates, as well as wearables and distinct names, on the Global market. Arrange your own MANA price and a deadline for the proposal.
  2. Purchase parcels and estates, wearables, and one-of-a-kind names which are for selling.
  3. Move your Estates and parcels to some other consumer.
  4. Experience the world using a map and see who possesses what, how much wearables are available, and also what names are registered.
  5. Start giving your parcels as well as Estates names and public descriptions.
  6. Allow other people to input the parcels even if you own them.

How can we buy Land in Decentraland?

Anyone, at any moment, could indeed purchase, sell, or lease land peer-to-peer on the official Decentraland Marketplace or through Opensea. Decentraland also provides the option of obtaining a mortgage on land. In Decentraland. 

Simply follow the steps outlined below:

Create an account:

Register with a trading platform. Metamask is recommended to purchase and sell land. Please enter your email address and a passcode. You will need to provide personal information in accordance with Know Your Customer (KYC) regulations.

Atlas View: 

This view gives a bird’s-eye view of each and every color-coded property/plot, estate, street, area, and plaza in Decentraland marketplace. You can relocate around the map by clicking and dragging it, zoom in or out, or toggle your mouse pointer over a parcel to see its x,y coordinates and holder. Any parcels that are currently available for purchase in the Global market will be outlined. Tap on a parcel to see its status, coordinates, and the public address of its holder (if it has an owner). You could also purchase or make an offer on the parcel from this display screen.

What exactly is an Estate? 

An estate, the same as Land, is a non-fungible digital asset. An estate is a grouping of two or even more parcels of Land that are conveniently close. These parcels must be next to each other and cannot be divided by a road, plaza, or other parcel. You could indeed effectively manage your larger Large estates by trying to connect parcels to construct Estates. Estates are particularly useful to create larger sequences that span multiple parcels.

Cheapest Estate in Decentraland:

What Exactly is Parcel?

Every land parcel in Decentraland is a non-fungible token (NFT, ERC 721), that also means it is one-of-a-kind and cannot be solidified or recreated, just like real land. Let’s look at the cheapest land available in Decentraland.

Cheapest Parcel in Decentraland

Cheapest land in Decentraland costs 3487 MANA.

Marketplace View:

To view all of the items up for sale, go to the Explore tab.

  1. To observe only a particular type of item, choose the Category.
  2. Sort them by various criteria such as most latest, least expensive, and so on.
  3. To observe items that are not for sale, switch On sale off.
  4. To discover something particular, sort the items by title.

Purchase MANA Tokens

You are all now ready to purchase MANA tokens after storing your tokens. That’s quite simple. Press the “Exchange” or “Markets” link once you’ve registered into your existing account. Then look for currency pairs that interest you, including ETH/MANA or BTC/MANA. You’ll see a “BUY” click below, in which you can enter the quantity you want to spend or even the quantity of MANA you want to buy. Fill out the form and purchase your MANA tokens.

Purchase Items:

To purchase LAND, Estates, Wearables, or one-of-a-kind titles in Decentraland:

  1. Explore the deals to find something you really want to buy and tap it to access its specifics.
  2. Select Buy on the product’s details page.
  3. Verify this payment in your Ethereum client and wait for that to be verified by the system.

Bid on an Item:

Even if a product isn’t for sale, users still can bid on it and start offering it at a particular price. The remaining stages of the process are identical to those of purchasing a product.

  1. Pick My Bids from the top navigation bar to see a list of your accessible and awaiting bids.
  2. You also can set the value of your bid from this screen by pressing the button Update. This screen also displays other users’ bids on products you possess.

Sell an Estate or a Parcel

To offer one of your items, follow these steps:

  1. Access My Assets and navigate to the asset’s details page.
  2. Press Sell on the details page.
  3. Set prices and an expiry date for your listing, then tap List for sale. Then, to verify, rewrite the price you’re going to sell it at.
  4. Verify this payment in your Ethereum client and wait for it to be verified by the system.

You can control the price of an existing sale without cancelling and re-create it. Simply tap the Update price button on the property or estate details page.

Transfer Land:

To move a land parcel or Estate to some other customer, follow these steps:

  1. Access My Assets and navigate to the details page of a property or estate you want to transmit, then tap Transfer.
  2. Insert the user’s Ethereum wallet’s public address.
  3. Click on The submit button.
  4. Verify this transfer of funds in your Ethereum client and wait for it to be verified by the system.

Decentraland Land Price History

  1. 90,601 lands are there in total including 43689 private land parcels, 33886 district land, 9438 streets and 3588 plazas.
  2. Each land covers 16m x 16m square spaces, previously it was 10m x 10m
  3. The highest ever sale of land is 2,000,000 MANA
  4. The average price of land has gone up from less than 500 USD to more than 3000 USD

The below chart is showing the total number of sales made in the last one year:

Is it worth buying Land in Decentraland?

Decentraland’s future is dependent on people turning up and then using the platform. Many people are drawn towards this crypto as a digital pure interest or in the hope it will become a real digital money like Bitcoin. One of the most significant advantages of Decentraland is that it grants users complete ownership access. This feature sets it apart from other virtual reality systems .

The profits produced and those who use their land are retained by the property owners of this digital world. This is distinct from other systems in that they take a cut. Because the scheme is decentralised, there really is no centralised authority to govern it. Thus buying virtual land in Decentraland Metaverse is a great long investment.

Is there any Financial Risk involved in Buying and Selling Lands on Decentraland?

There really is monetary risk.  So please be careful. Land values could fall in the long term. It is relatively new and has yet to gain widespread acceptance. But even so, given the patterns, it is extremely unlikely that we will see a significant drop in land prices. So if there is, now would be a good time to buy. As for myself, I am very optimistic about Decentraland. It’ll be exciting and see what the future will bring for us.

FAQs: Buying Land in Decentraland

What exactly is MANA? 

MANA is Decentraland’s ERC20 fungible cryptocurrency token. MANA is the in-meta currency of Decentraland. The lands are purchased and sold with respect to MANA

Is a wallet required to participate in Decentraland?

If you really want to fully immerse yourself in the Decentraland experience, we suggest getting a digital wallet. Digital wallets serve as your private account, storing all of your digital products (such as names, collectibles, and LANDs) as well as your in-world advancement.

Will MANA allow me to purchase items apart from LAND?

Yes, users would be able to trade MANA with the other users in exchange for products or services hosted inside of Decentraland, in addition to combusting MANA in exchange for LAND.

How big is a Land tile?

Land parcels are 16m x 16m (52ft x 52ft) in size.

How do I purchase Land or Estate in Decentraland?

You can explore all of the available Lands or Estates for sale on the Decentraland Global market.

How to get free land in Decentraland?

You can’t get free land in Decentraland. Lands in Decentraland cost more than 10000 USD.

Also Read:

My Final Thoughts on Buying Virtual Land on Decentraland Metaverse

The Metaverse seems to be the game changer, as well as any investment in Decentraland or other Metaverses could become a good bet. None of the digital world platforms have been able to compete with Decentraland. If you want to invest, now might be a good time to do so because the prominence of VR gaming is going to grow. MANA will be more beneficial in a few years, and you could make a lot of money if you decide to purchase now. If you still have any questions about purchasing land in the Decentraland, please leave them in the comments section.