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.
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:
- Buy property
- Design landscapes
- Create businesses
- Play world games
- 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.
- 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.
- Purchase parcels and estates, wearables, and one-of-a-kind names which are for selling.
- Move your Estates and parcels to some other consumer.
- Experience the world using a map and see who possesses what, how much wearables are available, and also what names are registered.
- Start giving your parcels as well as Estates names and public descriptions.
- 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.
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.
To view all of the items up for sale, go to the Explore tab.
- To observe only a particular type of item, choose the Category.
- Sort them by various criteria such as most latest, least expensive, and so on.
- To observe items that are not for sale, switch On sale off.
- 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.
To purchase LAND, Estates, Wearables, or one-of-a-kind titles in Decentraland:
- Explore the deals to find something you really want to buy and tap it to access its specifics.
- Select Buy on the product’s details page.
- 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.
- Pick My Bids from the top navigation bar to see a list of your accessible and awaiting bids.
- 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:
- Access My Assets and navigate to the asset’s details page.
- Press Sell on the details page.
- 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.
- 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.
To move a land parcel or Estate to some other customer, follow these steps:
- Access My Assets and navigate to the details page of a property or estate you want to transmit, then tap Transfer.
- Insert the user’s Ethereum wallet’s public address.
- Click on The submit button.
- Verify this transfer of funds in your Ethereum client and wait for it to be verified by the system.
Decentraland Land Price History
In total, the platform offers its users 90,601 lands, each of which covers square spaces measuring 16 metres x 16 metres, which earlier was only 10 metres x 10 metres. The lands are further classified into 33886 district land, 9438 streets and 3588 plazas. The highest ever sale of land has been 2,000,000 MANA, with the average price having risen from approximately five hundred dollars to now around three thousand dollars.
At the time of its launch in December 2017, the value of Decentraland cryptocurrency was around $0.024. The platform saw a surge in prices and also went ahead with the 0.24 dollar mark. After this, it faced both rejection and the regaining of the previous backing. Beginning in December 2020, the price of the platform showed bullish trends and acquired a new high of $1.56 in April 2021. After that, the coin and its value succumbed to the bear market and its price plummeted to $0.65. While the coin did see a rise in October and November of last year and also reached an all-time high of $5.90, after it hit a new ATH, the piece started dropping majorly. According to CoinMarketCap, Currently, it is valued at around 0.3 dollars with a Fully Diluted Market Cap of 868,865,402 USD. The token has a Trading volume of 43,374,086 USD and a Circulating Supply of 1,855,084,192 MANA.
The below chart is showing the total number of sales made in 2021
Earlier in the year, the Sales USD of Decentraland showed a jump when it reached to $2,781,987 USD on 20 January 2022. After this, the 24 Hour sakes USD kept increasing and decreasing through February and March and reached $1,701,704 by March 10, 2022. However, following that the Sales USD kept decreasing drastically. The number of sales which were running low in early 2022 reached a high of 178 on March 5 2022. After this, the sales saw constant fluctuations. On 5 September 2022, the maximum number of sales of the year were made which were around 207. In the last couple of months, the number of sales has improved slightly.
Is it worth buying Land in Decentraland in 2023?
The future of Decentraland is very deeply intermingled and co-related to the usage of the platform by the masses. A lot of hopes are pinned to the platform and there are expectations f it turning into as big an entity as Bitcoin in its own space. Many virtual reality systems get left behind and Decentraland is set apart owing to its unique aspect of providing users with complete ownership.
A significant long-term increase in the value of Decentraland is expected in the coming years, which paces the platform as a viable investment opportunity in the year 2023. According to CryptoNewsz, a pioneer Indian news media network centred on the crypto space, “ With a 5-year investment, the revenue is expected to be around +368.1%”. Moreover, the popularity of Metaverse is growing exponentially which will tend to open up many more gateways for the platform.
As we can also see from the sales trends, there are constant fluctuations. The last one year has seen a bear market as well as many firms collapsing which did have a slight negative impact on the project. But by the end, there does seem to be a scope for growth. the number of sales in the last few months of 2022 is better as compared t the sales in early or mid-2022.
However, before making any decision you must keep in mind that the space of a project like Decentraland is relatively new. Most claims right now and based on speculations and opinions. The industry is only in its infancy stages and hence nothing can be set in stone in terms of the future of the platform. Proper research munts over anything when it comes to the virtual assets space. Without a good and concrete research in place, no decision should be made.
Is there any Financial Risk involved in Buying and Selling Lands on Decentraland?
There really is a 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.
Where can I buy Decentraland (MANA)?
You can harness many renowned and esteemed exchanges to buy the MANA token of Decentraland. Coinbase Pro, Huobi Global, and many more platforms have the virtual currency listed and are allowing users to buy the coin. you can also take advantage of trading Decentraland directly for fiat currencies like USD, EUR, GBP, etc. or even other cryptocurrencies for that matter. Apart from this, as an investor, you can also block rewards programs on Decentraland MANA and follow digital coin price prediction.
How to get free land in Decentraland?
You can’t get free land in Decentraland. Lands in Decentraland cost more than 10000 USD.
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Buying Land in Decentraland Metaverse: Is it still profitable in 2023?
The Metaverse community has only just started and what we have witnessed in the last year was likely just the tip of the iceberg. There is still a lot of potential left to unlock in this space. Many technical analysts and experts do believe that, in the best possible scenarios, the MANA coin of the Decentraland platform might be anywhere in the range of between $ 1.278537 USD and $ 2.22 USD. This implies that the value of the platform and the token could possibly show a rise of 458.03% by 2024.
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.
Last updated 3rd January 2023