EXPLAINER GUIDE: How To Buy a Piece of Land on Decentraland


Decentraland
EXPLAINER GUIDE: How To Buy a Piece of Land on Decentraland 26

Decentraland is one of the interesting blockchain projects out there allowing users to buy virtual pieces of land using cryptocurrency.

Besides buying land, users on Decentraland can do much more, such as play games, host events, and interact with each other in multiple ways.

First of all, what are the benefits for buying this virtual land:

  • Potential returns on investment ( ROI)
  • Land owners can rent the land for use and earn income or even put up property

Anyone can buy, rent or sell land on Decentraland, either via OpenSea – an NFT marketplace – or through Decentraland’s official Marketplace.

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SEE ALSO: EXPLAINER GUIDE: How to Connect Your MetaMask to OpenSea to Buy and Mint NFTs

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So here are the steps for buying land on Decentraland:

Sign Up

The first thing is to visit Decentraland’s Marketplace and sign in or sign up if you aren’t a user already.

Once signed in, browse to ‘Parcels and Estates.’ then, click on ‘View All.’

Select a parcel of LAND

The next step is to browse through the available pieces of land and select your preferred choice of land.

By buying land in Decentraland directly from the marketplace, you get to see the neighboring areas and the proximity to famous areas.

Once you have selected your piece of virtual land, proceed to click on it to read about it in detail. Here, you will see the price of the land in MANA, availability, and the owner’s name.

Tap on ‘Buy’ to make the purchase.

Connect your wallet to the Decentraland Marketplace

Connect Wallet to Decentraland
EXPLAINER GUIDE: How To Buy a Piece of Land on Decentraland 27

To make the purchase, you will need to ensure that your wallet is connected to your account as the land will be sent to your wallet as an NFT once the purchase is successful and completed.

If you don’t have a supported wallet, you can download wallets such as MetaMask and Trust Wallet. Remember, your preferred wallet needs to have enough MANA or ethereum (ETH) for you to make the purchase.

Additionally, you need to have some extra tokens to take care of the gas fee.

Confirm your virtual LAND

Once the purchase is complete, you can confirm your LAND on your wallet.

If you are using Trust Wallet, you can confirm the same under ‘Collectibles’ and under the ‘NFTs’ tab in the MetaMask wallet.

Each piece of LAND on Decentraland measures 16 meters by 16 meters and is represented as an NFT.

The number of pieces of land on Decentraland is capped at 90,000 which helps create scarcity.

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RECOMMENDED READING: How AJE is Building Africa’s First Utility MetaVerse

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