Artificial Intellegiance and Machine Learning

Stepping into Digital Real Estate

Stepping into Digital Real Estate

The digital world is slowly making an appearance in everyone’s lives. It is now possible to buy, sell and rent pieces of land in the Metaverse. This article discusses the advantages and steps to buy virtual land. The advantages are that one can buy land and revamp it with the help of a designer to build malls, schools, hotels and the options are endless. One can even rent their digital land to giant corporate companies for a lucrative rental income. Besides, the owner will not have to bear the raw material costs of cement and stones for construction as practiced in the physical world. Commercial tenants are easier to find as networking online is efficient; you can connect with various interested customers in an easy and short period. Here are steps on how to buy a piece of land in the metaverse.

 

  • Visit marketplace platforms of metaverse such as Decentraland, Axie Infinity, or Sandbox. Create an account on the interested platform and login.
  • Browse from a plethora of options of pieces of land, check out its dimensions and prices. Don’t’ forget to compare prices and do some market research.
  • On selecting a piece of land, make sure to carefully examine the terms and conditions. Sometimes there will be certain rules you will have to abide by, for instance, Decentraland only allows users to sell and buy land in MANA currency- a currency invented by Decentraland.
  • This step is to get your digital wallet ready for payment. Digital wallets like Metamask are extremely popular these days and are versatile to use with most real estate platforms.
  • Make sure that the digital wallet with the cryptocurrency is compatible with the platform and land chose by you. Once this is done, click on the buy button.
  • Once you have successfully purchased the land, it is stored as an NFT- Non-Fungible Token and can be viewed under assets in your digital wallet.

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