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We have been spending a tremendous time on researching the Metaverse. Just like many other companies, we believe that the Metaverse has huge potential and that sooner or later it will become a norm for everyone to use these digital, virtual spaces to meet people from all around the world. We have also looked at reasons and options on how anyone can join the Metaverse hype and profit from it by buying Metaverse tokens, NTFs or virtual lands. However, this article provides a step-by-step guideline for anyone, who would want to buy land in a Metaverse, but does not know how.
Buying land in the Metaverse
Before we look at the concrete step-by-step guide it is important to note that some of the steps are interchangeable. However, for a secure and easy purchase of land in any Metaverse , you will, at some point, most probably need to go through every step that is mentioned in this guide. Without any further ado, let’s look at how anyone can buy land in Metaverse.
1. Select your Metaverse (The Sandbox)
First step before the purchase of any given land in the Metaverse would be to actually decide which Metaverse you want to buy the land in. The two most popular options as of now are The Sandbox and Decentraland. However, there are many different places where you can go and purchase virtual land.
For instance, a virtual real estate agency Metaverse Property helps you in choosing and buying the virtual land in five different Metaverses. On top of The Sandbox and Decentral and these are Somnium Space, Cryptovoxels and Upland. However, to keep things simple, this guide will only look at the steps of how to buy the land in The Sandbox, one of the most popular places to do so. Moreover, the steps are fairly similar with most of other Metaverses, which means that this general guide applied on The Sandbox can help you with purchases in different Metaverses as well.
2. Create a cryptocurrency wallet (MetaMask)
Before you enter a virtual world or a Metaverse , you need to have your own cryptocurrency wallet. This will help you not only with connecting to the Metaverse, but also with the purchases as such. It is recommended to use a browser-based wallet, since they are easier to use and usually run into fewer problems, but mobile wallets are just as well.
For purposes of buying the land in Metaverse you will need a wallet such as MetaMask, Trust Wallet or Binance Chain Wallet. Thus, you will need a wallet that supports multiple blockchains and supports the NFT land´s blockchain, but the choice between the above -mentioned wallets, or any other wallet that suits these needs, are solely up to you. For the purpose of this guide, we will be using MetaMask, since it is fairly easy to use and user friendly.
However, it is important that right after you set up your wallet, you also write down a seed phrase (usually in the form of 12 or 24 words). These words are your “keys” to your cryptocurrencies in case you lose your device. It is recommended to store these words offline and at two different geographical locations.
3. Connecting wallet to The Sandbox
Once you have your wallet set up and you decided in which Metaverse you want to purchase the virtual land, in our case The Sandbox, it is time to connect the wallet with Metaverse. With The Sandbox, you need to Sign in , which is an option that is in the top right corner. It is also important to select the correct blockchain of the overall Metaverse. Vast majority of these will be based on Ethereum, which is the same for The Sandbox.
Then, choose to Login or Create your account with any cryptocurrency wallet that you have created, such as MetaMask. The browser-based wallet will then usually ask you to connect, where you can simply hit Next and then Connect .
Creating a nickname
At this stage you will also be asked to provide an email address as well as your nickname. If you want, you can also add a password, but this option is not necessary. After this, the MetaMask will again pop-up and ask you to Sign the account, officially creating it in The Sandbox, where you should be able to see it now.
Here you can probably see why we have recommended the usage of a browser-based wallet. Due to several pop-up options and constant “back-and-forth” between the Metaverse and the wallet during the initial connection, the browser-based wallet minimizes the space for unnecessary mistakes as well as makes the overall process faster and smoother.
4. Buy ETH or SAND and transfer it to MetaMask
Once all of this is done, you need to make sure that your wallet is properly funded for your purchase. In the case of The Sandbox, you can either buy and send SAND tokens or ETH. Both of them should be working equally fine to purchase the land in this Metaverse.
You can use any exchange or service that provides such services and products, but be sure to not only buy the necessary tokens, but also transfer it to your cryptocurrency wallet that is connected to The Sandbox. With MetaMask, you would need to copy the address of the given token, either SAND or ETH, enter it in the withdrawal address of the exchange or the wallet where you have your tokens and send it to MetaMask. You will also need to make sure that you do not only have sufficient funds for the purchase, but also a bit more for the gas fees associated with the transactions. This is a common mistake that can stop you from the purchase.
5. Select the land plot you want to purchase
Once it is sent and you have your funds ready in the MetaMask wallet, you should be ready to buy the land you wish in The Sandbox. You can do this either through a bidding process in the OpenSea platform, or directly in The Sandbox. However, the number of left land plots in The Sandbox is decreasing. Nevertheless, after you find the virtual land in The Sandbox that you want to buy, you can either choose to buy it for the fixed price (8.8 ETH in the below case), or you can choose to place a bid.
In this case, you will see a new pop-up window, where you can place your bid, which you will have to confirm in your wallet. If your bid is successful, your tokens will be deducted from your wallet and you will receive a NFT of the land that you bought. If it is rejected, there will be no change. With MetaMask the confirmation of the purchase will be visible right in your NFTs section, where the NFT of your land will be secured. And that is about it!
While the overall process seems to be easy, and it really is, it is necessary that you are careful at each and every step. Once you make any mistake with cryptocurrencies, there is usually no way back and you can lose your funds forever. Thus , always be sure to double check everything. The same applies for any cryptocurrency purchase or transaction, no matter whether that is a donation or a purchase of a land in Metaverses such as Decentraland, The Sandbox or any other Metaverse.