Below I will go over the basics of what you need to purchase land, homes, art, furniture, or anything else in the metaverse.
1st I want to briefly talk about what the metaverse is and what you can do in it.
What Is The Metaverse?
The Metaverse isn’t one world as you might think. It is actually many worlds that run on the blockchain. They are not all interconnected either, so there are different rules and currencies for each one.
There are endless possibilities as to the use cases of these properties. The most common now are for buy and hold investments, resell investments, property rentals, retail businesses, play to earn gaming, office meetups, family get togethers, and more.
You should know that everything in the metaverse is bought in the form of an NFT. An NFT is a smart contract on the blockchain that verifies ownership, stipulations, assets, or extras added by the creator.
What Do You Need To Buy Property In The Metaverse?
You need 4 things to buy property and other items in the metaverse
- The right property, house, business, etc, to meet your goals
- Wallet – You need a crypto wallet that is accepted by the metaverse you are wanting to purchase in.
- Crypto – You need whatever token is used for purchases in the metaverse you choose.
- Link Wallet – You need to link your wallet to the platform you want to buy your property from.
You need a wallet to be able to sign up and make purchases in the metaverse. A digital wallet is where you keep your digital money aka Cryptocurrency. The most popular is Metamask which will work with most if not all Ethereum platforms which is where the most NFTs are traded. There are many other wallets that you can choose from. Once you have a wallet you can fund it and make purchases in the metaverse.
Finding Right Property - Location and Team
Real estate in the real world is all about location. Close to town, good schools, stores, fun. All these come into play when it comes to buying and selling houses. The metaverse is no different. Lets say you sell festival clothing. It would be good for you to be near where they hold the festivals. Or if you are a business consultant it would be good to be in the business district.
It’s also important to consider that every Metaverse is not the same. So where Decentraland may be the best for your friend, MegaCity might be the best for you.
These metaverses are giant projects that take professionals to do correctly. Much of the long term stability of a metaverse project will have to do with who is designing it and who is selling it. Both of those things matter equally. When we look at projects at MetaChainProperties.com we consider these factors very heavily. Every projects is fairly speculative at this point and we haven’t even touched the surface of that the metaverse will become. Plenty of metaverses will fail and a lot of that will have to do with the people behind it.
As of right now you cannot purchase anything in the metaverse with USD or any other fiat currency (We do actually offer a USD payment system with debit or credit card). You need to purchase crypto. Right now most platforms run off the erc-20 Ethereum network. There are a lot of coins on that network though so you have to pay attention. You need MANA to purchase in Decentraland, SAND for Sandbox, ETH for OpenSea and many other NFT platforms, and more.
How Do I Buy My Crypto?
You have to purchase crypto through an exchange. Many wallets connect directly to an exchange to make purchases easy. You will need to sign up and exchange USD for the crypto you need. A few popular exchanges are Binance, Coinbase, Kucoin, and many more.
If you buy your crypto in an exchange not connected to your wallet you will need to transfer your crypto to the wallet you will be using to purchase your NFTs. There are a lot of great resources on Google and Youtube that show you exactly how to do this. It’s really just copy and paste.
Purchase Your Metaverse Property Or Other NFT
Once you have the correct crypto in your wallet and you know what you want to buy you can sign up for an account on the platform of your choice and purchase your NFT. It’s fairly similar to any e-commerce purchase. You may even find it easier.
Using a Metaverse Real Estate Agent Like Metachainproperties.com
As I mentioned above, not all metaverse properties are created equal. This being true it can be hard to know what the best options are for you. That is where a metaverse real estate agents can come in. A good metaverse agent will have knowledge on multiple metaverse projects and will make sure to keep current with what is going on. They can help guide you to the right place for your goals. Decentraland may be the perfect place to invest for your friend but for the skyscraper you want to own maybe Ready4Player is the place for you. A metaverse agent can help to narrow down your options and explain how certain locations would be better for your goals.
Pay With USD (Debit or Credit) Using The Metachain Conversion System
Let us take care of the buying and transferring of Crypto so you don’t have to.
Purchase land, houses, businesses, clothing, furniture, and more in the metaverse the same way you would buy something on Amazon.