Ever since Mark Zuckerberg changed his company’s name to Meta, the virtual world sparked curiosity and excitement among individuals. Many people immediately invested their money in the Metaverse as they thought of it as a good source of passive income. Those who didn’t have much knowledge about it kept up with the news. 

Many social media channels blew up with the news of the metaverse and cryptocurrency. Many celebrities and influential people changed their profile pictures with their newly bought NFTs. People got bonkers with excitement and it still hasn’t died down.

Metaverse is not just a fancy place where you can buy funny-looking NFTs and show them off on your social media channels. It is a proper universe, with people as avatars and they can buy or sell stuff there as well. You can hold conferences, meetings, seminars, social gatherings, and many other activities to bring people from all around the world together.

You can also buy property, and real estate, and trade in the metaverse. All of it is done through cryptocurrency, which you should know about if you want to understand how to invest in metaverse. In this article, we will break down how you can invest in the virtual world and talk about one of the most popular applications that helped lay the foundation of the metaverse.

Can You Invest in Metaverse?

Investing in the virtual world is conceivable. The metaverse, however, is a collection of intertwined imaginary spaces that can be traversed. For instance, Decentraland and Gala are two of the most well-known digital currency ventures. 

For their virtual world networks, Mana and Gala are the original currencies, enabling individuals to purchase virtual properties among other commodities. As more people use these networks, the cryptocurrencies' value can improve.

However, it can be tough to predict which network would probably wind up being the most prominent when trading in virtual world coins. Before participating, a detailed inspection must be done because they are not all created equal.

Additionally, a gain in user analytics doesn't guarantee that virtual world currency costs will rise. According to a report, the worth of Mana tokens dropped by more than 80 percent between 2021 and 2022, irrespective of the fact that user stats were largely consistent during this timeframe.

The danger of participating in virtual world coins can be high. The equivalent is true with non-fungible tokens. NFTs provide for digital ownership rights, including that of images, audio, ticketing, and other commodities. It is very challenging to determine if having digital content on a metaverse ecosystem will be useful in the future.

What is Decentraland?

A shared virtual world, operated by users from all around the world, and the complete universe powered by Ethereum, that sums up Decentraland. Esteban Ordano and Ari Meilich are the two brains behind the development of Decentraland. Both of them are professional blockchain developers who created the smart contracts of Decentraland with their combined effort. The project is governed by the DAO and its foundations were laid in 2020.

The best part of being in Decentraland or any other Metaverse for that matter is that you can discover, engage with people, and indulge yourself in immersive games while trading or buying and selling real estate. You can make use of interactive applications, rapid payment systems, and easy communication with people all around the world, all thanks to the developments of the virtual world. You can also use NFTs through this channel as they are unique and can be easily traded as well as kept on the blockchain.

Buying Land in Decentraland

The main purpose of this metaverse is the buying and selling of real estate. There are 90,000 pieces of land in Decentraland and each one of them is represented by an NFT. If you want to know how to invest in metaverse, starting from Decentraland will be a good option. Because investing in real estate serves as a comfort zone for many investors and you can do the same here as well.

You can become a virtual property tycoon by purchasing inexpensive land in Decentraland and selling it back for a good amount of profit. If you refurbish or add extra stuff like artwork or various other activities in your house, it will double or triple its value.

The Native Tokens of Decentraland

You have the option of using 3 tokens in Decentraland and all of them have a different purpose. Let’s break it down:

  • An ERC-721 currency called ESTATE; portrays the act of combining pieces of digital land
  • An ERC-721 NFT called LAND; portrays parcels of virtual pieces of land
  • An ERC-20 token called MANA; the official token of Decentraland

Differences Between ERC-20 and ERC-721 Token

Before diving deep into the fact that how the digital economy in Decentraland works, let’s learn about the differences between the two types of tokens used here.

MANA and similar other ERC-20 tokens come in the category of fungible tokens because they can be exchanged for other similar (ERC-20 tokens). Another factor is that MANA tokens are the same as one another without any unique features. These traits help make MANA a suitable choice for being Decentraland’s native token.

The LAND and ESTATE tokens are ERC-721 tokens that have unique traits which make them different from other tokens as well as each other. They are regarded as NFTs because they cannot be exchanged or swapped with any other token or currency. The only drawback they have is that they cannot be used as normal currency but you can buy in-world stuff like avatars, customized products, and distinct land parcels.

How to Invest in Metaverse Decentraland

You have many options for investing in Decentraland but the one that makes it the most popular is buying and selling real estate. We will take you through the step-by-step process of buying land in Decnetraland which will answer your question about how to invest in metaverse.

The non-fungible digital commodity that you will interact with the most in Decentraland is obviously, LAND. When you purchase a plot of LAND, you are entitled to accomplish whatever you wish with it. You can make a museum or a library, and hold concerts, meetings, or social gatherings. You can even invest in having 3D dynamic and immersive environments around your property. 

If you want to know how to invest in Metaverse Decentraland, then you should follow these steps:

1. Register

The first thing you will do is to go to Decentraland’s platforms and log in or register for a profile if you do not have an account. Once you have gained access, select the option of “parcels and estates,” and go for “view all.”

2. Decide on a Parcel of LAND

Now, you have the tough decision of choosing a parcel of LAND. To make your hunt easier, you can choose a location that is around your favorite places or is present in the vicinity of famous areas. You can do so by acquiring land directly from the Decentraland marketplace.

Once you have decided on a parcel of land, you can hover your mouse over it to see all the details. The value of the property in MANA, whether it is available or not, and the name of the owner. If you want to finalize the land, click on “buy.”

3. Link Your Wallet to the Decentraland Platform

Remember to sync your wallet to your profile before continuing with your transaction. The land will be given to you through your wallet as a non-fungible token after all the prerequisites are done.

If you do not have a digital wallet, you can download MetaMask or Trust Wallet, as they are the best in the market. Make sure that you have the appropriate amount of MANA or ETH in your desired wallet if you want to continue with the payment. You will also require some extra currency to pay the gas fee.

4. Claim Your LAND

The last thing you have to do is to confirm your purchase on your wallet the moment you’re done with the transaction. If you have the Trust Wallet, validate the transaction through MetaMask wallet’s “Collectibles” plus “NFTs” options. Each NFT here is 16x16 meters and exemplifies a piece of LAND. The land plots in Decentraland remain at a stable quantity of 90,000 which regulates the action of scarcity.

Final Words

After reading our guide on how to invest in Metaverse Decentraland, you should have gotten a slight idea of how the whole system works like bigmoneyrushapp.com. Cryptocurrency and NFTs are just the tip of the iceberg, the metaverse goes much deeper than that and you can only learn about it if you get actively involved with it. When cryptocurrency originally emerged, it took a while for consumers to become aware of it. Now, they are so proficient with trading with crypto that they have invested in trading bots like the bitcoin 360 AI and have made their lives easier.

Practice makes perfect and this fits truly well when it comes to the Metaverse. You can read a million things online and in different guides but you will learn the real stuff with experience. So, don’t be afraid of the losses because you can avoid big ones by investing a small amount. Until you learn, you can keep the amount small. Once you’re sure that you won’t face a significant loss, gradually increase the amount. Trust us, you will love this new venture!