How to Buy Land in the METAVERSE (For Beginners!)

people are spending millions of dollars in magic internet money to buy virtual real estate in the metaverse crazy maybe but maybe not someone spent 450 000 to buy land next to snoop dogg in the sandbox and metaverse real estate sales have topped 500 million and are projected to double this year and just looking at the trends of how we are living our lives we are all spending more and more of our days online on our phone so it makes sense to me that the next inevitable step is that the metaverse becomes a huge part of our lives and considering us millennials and zoomers are basically priced out of the real real estate markets all that's left for us is metaverse land anyways what is up guys my name is bree and in this video i'm going to be sharing with you how to grab your own plot of land in the metaverse but what exactly is digital land in the first place so what does it mean to hold a title to a plot of virtual real estate now this depends on the platform but generally virtual land is represented as an nft on the ethereum blockchain which gives you rights to a piece of digital land in a digital world on a specific metaverse platform two of the most well-known metaverse platforms are sandbox and decentraland so the nft that you buy when you buy virtual land contains the coordinates on the map where your land is located in that metaverse and with your digital ownership you are able to do things like build things on that space we'll get into the specifics of what's possible in the metaverse what you can build on your land and what you can do with it but we'll get to that in a minute because what you can do with our digital land really depends on which metaverse platform you are on so next up is where can you buy land in the metaverse and first up is decentraland now the centerland is one of the originals they've been around since 2017 and there's a total of about 90 000 plots of land within decentraland so this is limited similar to how a lot of cryptocurrencies like bitcoin are limited just because it's digital does not mean that there's an unlimited supply of land decentraland is a virtual world where you can do many different things from building things playing games attending concerts and events decentraland is largely a user-generated environment and you can buy plots of land on the decentraland map let me grab my computer and i'll show you exactly what i'm talking about all right so let's pop over to decentraland and the place you want to go to buy land is to go to their marketplace okay it's already prompting me to connect my wallet so i'm going to go ahead and connect and you're going to need to connect your metamask your ethereum wallet if you want to do any purchases on decentraland so let's connect okay so that brings me back over to the marketplace and let's go start browsing and i want to select the land tab and that's going to bring up the map of decentraland and any of these blue squares are pieces of land that are for sale that you can purchase everything that's not is not up for sale so these big green squares are the genesis plazas this tends to be where people will spawn when they join the game so of course any land close to those plazas will come at a premium but i can scroll around through the map and look at different plots of land that are for sale i can click on those and it will bring up the information and it will bring up the price the owner all the information i need to know before i decide if i want to buy alternatively you can go up here and click on this button and it will show you a list of all of the lands for sale instead of looking at it by map and this is useful because i can select this to go by price so this is recently listed let's go by cheapest so the cheapest piece of land right now in decentraland is 4798 mana and mana is the cryptocurrency native to decentraland it's what you'd be purchasing your land with so let me just see what that price works out to be i'm not sure what it is with the prices of that right now so the cheapest piece of land right now in decentraland is fifteen thousand dollars which is very very pricey so you definitely have to have a fair bit of capital a fair bit of liquidity ready to put into this if you do want to get it on the metaverse it is not cheap um but say i did want to go ahead and do that if i wanted to purchase i can either do buy or a bid now if i go to buy i don't have enough mana in my eth wallet i would have to make sure i have mana in order to purchase this which i don't all i have right now is some east so your other option here is you could bid you could place a bid and what you do is click that bid button choose how much you want to bid put in an expiration date put in your bid see if somebody will accept less than what they're asking but your mileage may vary um but another thing if you do want to take a look at that land see what's around it before you go ahead and buy you can do that so you can click the jump in button and this will get you to enter into the game you can do this using your wallet or play as guest so i'm gonna disconnect as guest and i can go into the game world and see this piece of land before i buy so let's do that all right so i've jumped into the game and now we can see this is the plot of land that i could buy so the size of the land generally are 16 by 16 meters in game so it's not huge but there's nothing built here right now and there's a couple of things right next door but otherwise it's pretty empty space in the game so i might not want to build something here if it's so far out on the edge of the map where nobody's really going but just another note because land in decentraland is an nft you can also purchase it straight from open seas so i can go over to openc and search for decentraland and you can see i can buy the same pieces of land right here the other major metaverse platform i want to talk about is sandbox so what is sandbox sandbox is a player created virtual world where you can buy land build things create games and experiences attend events etc it is in essence very similar to decentraland except has a bit of a different aesthetic sandbox has also been around for quite some time they were created back in 2012 and there are a grand total of 166 000 parcels of land up to buy in the sandbox world so again just like with decentraland having a limited supply means there's scarcity now sandbox has a similar vibe in design as games like minecraft except unlike minecraft sandbox is created on the blockchain inside the sandbox world everything from land to avatar clothing to items all of these things are nfts and when you purchase an nft that represents a plot of land in sandbox you can do a bunch of things on your land from a virtual home a virtual business hq a gallery to host your nfts games experiences a place to host events whatever you want you're only limited by your creativity so let's look at buying land in sandbox so head on over to sandbox.game and this will bring you to the sandbox platform um the first thing you want to do is sign in which you'll do by connecting your wallet so i'm going to connect my meta mask and we'll verify so now i'm connected and to go and look at the land for sale let's go to the market tab and there's a whole bunch of stuff for sale within the sandbox and we want to find the land by going down to nft type and selecting lands so this will bring up available pieces of land that are available for sale right now now with the centerland listings were listed in mana and sandbox everything is listed in eth and when i click on any of these it's going to just simply bring up the listing within openc because these are all nfts that's where they're going to show up that's where you're going to buy them from now this was sorted by cheapest so the cheapest right now is currently 3.75 eth which is over eleven thousand dollars so again it's pretty on par with the prices in decentraland it's very expensive but that's kind of what you've got to work with right now now again just like with decentraland picking your plot based on its location is important so land that is closer to interesting things land that is closer to centralized places places with lots of traffic those are going to go for higher prices so if you want to look at land by location you can do that instead of looking at these listings here i can go over to the map tab and that's going to load up the massive sandbox map so you can see this is just a small section of the entire map here and there's some big sections here of some big interesting things that are built in the space but any of the dots here that are white are available on openc um i can click on that and it'll filter so i can go and find a piece of land that's close to somewhere where i want to be so if i click on this one it'll bring up the listing it is for sale on openg for 7.5 east so i can go right down here and click to buy or click the bid button if i want to offer a bid on that but the size of the plot in sandbox are a little bit different than decentraland you can see the size is a one by one parcel the basic size is 96 by 96 meters in game which is a bigger space than you would get in decentraland but that is the base size of course you can also purchase bigger plots you can search here by 3x3 6x6 12x12 24x24 if you have that kind of money i don't but you can buy bigger pieces of land if you want there are more metaverse platforms out there and i'm sure there's going to be more popping up as time goes by but we just don't have time to cover them all in this video but what we've gone over so far covers how to buy land in the metaverse but why would you want to buy it in the first place and there's three major reasons i want to highlight here and the first one is to buy and hold to later sell it and make a profit now this could be short term in the sense of flipping if you think the price of your plotted line is going to go up soon you can flip that relatively quickly but if you also believe that the metaverse is something big that's going to be built out over the next few years grabbing a piece of virtual real estate could be very lucrative if you hold it for the long term so spending a couple of thousand dollars on a plot in sandbox today might be worth hundreds of thousands of dollars in a couple years but i cannot predict that and nobody technically can but if you are planning on buying virtual real estate for the purpose of making money on it in the near future or the distant future there's a couple of things to keep in mind so what determines the value of a piece of virtual real estate there's a few important parts here so first is the location you'll see on the maps that the location of your plot of land really matters if your plot of land is close to a main plaza close to a busy road where there's a lot of foot traffic or it's near an experience that a lot of people are going to then that piece of property is going to be at a premium if you have a larger plot of land that means you can build bigger more elaborate things so that is more valuable to people as well and the other big driver of the price of your virtual land is of course the success and popularity of that specific game you'll see this with regular companies as well if you had a stake in facebook when it only had a million users and compared to what that is worth now when there's what several billion users of that platform the value of your asset has skyrocketed and the same applies in the metaverse if you hold a piece of land into central land and five years from now it's huge it has millions or billions of users then that land is going to be worth a fortune the second reason for buying real estate in the metaverse is because you want to build things maybe you're a fan of ready player one or you just know that this is going to be huge and you want to be a part of building those experiences out then this is how you do it so i've jumped back into decentral and just to give you an idea of the things you can build so here is a gallery somebody made for their nft collection now i can go in here i can take an elevator up to the second floor and i can take a look at their nft so if i click on that nft it's going to bring up information about it so i can see what wallet it's in i can see how much it's sold for whether or not it's for sale and there's a link to go and view it on openc like if it was for sale i could go there and check it out and buy it if i wanted to but this person has built this whole gallery for their nfts um you can also do other things you can make this sort of your virtual home and you know include things that have like a link to your instagram a link to your youtube channel whatever you want you can put in here and use it that way but people have built all sorts of interesting things here that aren't just you know utility nft galleries there's i don't even know what that is there's a giant whale your creativity is really all that limits you here you can build whatever you want in this world um build all sorts of interesting things and it's really up to you and the third reason to buy land in the metaverse is to rent it out and earn some passive income it is possible to rent out your metaverse land say if somebody wants to host a virtual event if you've created an interesting space that somebody wants to use for that you could rent that out for them and earn money from doing so this works similar to in the real world as a lender you lend out your piece of land and a renter pays you for the use of it this is a great way to earn some passive income off of your crypto investments but as far as i can tell it is rather difficult right now there isn't an easy way to do this i'm not sure exactly how you would go about it i don't think the platforms are set up to allow this to happen easily but it is possible and some people are doing it but i do expect this feature to be built out more in the future as these platforms mature so what do you think will you be buying real estate in the metaverse now or are you interested but thinking of maybe waiting a little bit to see what happens for me personally i'm going to be waiting this seems very very early but if you have the liquidity to put some money in and grab a piece now that could turn out massively in your favor in the future but crypto in general can be very confusing especially if you are a beginner if you're new to this space and things move really really fast there's always so much stuff to learn and it can be overwhelming to figure out the basics that you need to know in order to get more involved in the space so if you're a beginner and you want to get more involved in crypto i've created the crypto basics boot camp to help you get comfortable in the crypto space this is a short but super actionable course that's going to help you get comfortable buying and selling crypto get comfortable with the tech with wallets with defy and master the mindset to hang on to your crypto through the long term without panic selling when there's a crazy market downturn as there happens to be right now this is perfect for you if you're a beginner this is exactly what i would have liked to have seen when i was new so if you're interested in learning more or signing up and getting started you can check out more at the link in the description below i'd love to see you guys inside but that is it for this video guys i just want to thank you for sticking it out i truly truly appreciate all of your support if you like this video please give me a thumbs up and hit subscribe and share it with a friend who could also benefit from this video it's truly the best way to support me because every little bit helps but otherwise if you're ready to continue on down that crypto rabbit hole make sure you check out one of these videos next and i will see you guys next time

Channel: Brie Kirbyson

Views: 25,663

Keywords: how to buy land in the metaverse, metaverse explained, metaverse crypto, metaverse stocks, buy land in metaverse, buy land in decentraland, buy land in sandbox, metaverse property, how to buy land in metaverse, decentraland land, sandbox land, invest in metaverse, nft metaverse projects, how to invest in the metaverse, nft, opensea, virtual real estate, virtual land investing, virtual land, brie kirbyson

Id: l2Q_voQqgqQ

Length: 15min 25sec (925 seconds)

Published: Thu Feb 10 2022