Do’s and Don’ts of Buying Metaverse Land

If you’ve been on the internet, you might’ve heard of the term “metaverse“. Discussions on the term dominated 2022. People debated whether it was actually the future as many tech giants are making it to be. Or was it just speculation?

In just a year, the concept has somewhat matured. It is getting less niche a term and getting more recognition. So it was inevitable that investors start taking an interest in its potential. If you’re a wannabe investor with low capital and looking to invest in the metaverse, you might try its land.

We’ve created a comprehensive guide on what you should and shouldn’t do to buy metaverse land. So if you have plans, this guide will help you make an informed decision.

Before we get into that, let’s first discuss the following:

What is Metaverse Land?

Virtual land in the metaverse is similar to the land in the real world. For example, you can buy real estate in the virtual world and do what you would do in real life. For example, you can lease out your land. Or build infrastructure to attract people.

Virtual land is sold as NFTs, so it is yours forever. But you cannot walk on or touch it, at least not physically. Your avatar, your virtual caricature, can. And with proper VR equipment, you can get a feel of the land terrain. So there’s that.

Virtual ledger, if you want to call it that, is on the blockchain. So it’s secure from any fraud or discrepancies.

Now that we’ve discussed what metaverse land is, let’s discuss the dos and Don’ts of buying metaverse land.

Do’s

Start with Research

If you’re buying land in the metaverse, you should start with research. This is the first step towards getting a good deal for your money.

Scour the internet for the right information. There’s a lot of misinformation on the internet, and you’d want to avoid it. Find authentic sources.

Find the Right Metaverse.

There’s one thing about metaverse platforms; there are way too many of them. Some are legit with proper purpose. Others are trying to capitalize on the hype and nothing more.

Metaverse platforms must be functional and part of the daily internet discourse. That’s how these platforms gain legitimacy. For example, we have Decentraland and The Sandbox, both of which gained popularity even before the metaverse boom.

Although starting a bit late than the bigger names mentioned, XANA is another platform that has garnered a good reputation in the Web3 landscape.

Look for Trends

Every time has a trend; that includes trends for metaverses. Some metaverses saw a huge urge in 2021 but slowed down in 2022. While others gained a lot in the previous year. And there were some outliers, like Roblox, which has maintained a healthy audience volume over the years.

When you’re investing in the metaverse land, keep tabs on trends because these could be the very thing determining your investment’s future value.

Don’ts

Fall for hype

One thing our monkey brains are hard-wired to follow is hype. The more people vouch or even mention something, the more credible it becomes for us. No matter how useless it is practically.

So avoid that at every cost. Because it’s the hard-earned money, you’re investing. Look for solid data backing the claims.

Avoidant response

If a parcel of land is selling for a good price today, you have to initiate your research. This could be the moment that makes you tons of money.

If you avoid or delay it, the returns might not be as good as you’d want them to be.

What you need is a middle ground based on research. Find a goldilocks zone where you invest at the right time without falling victim to the hype.

Pixelated Elephant in the Room

If you’ve read this far, you must be wondering if we would recommend buying land in the metaverse.

Our unbiased opinion would be yes. You can invest in the metaverse land once you have all the necessary information, from trends to the right price. Explore the world before buying anything.

This is one way to gauge the value of the virtual real estate. Because it’s more than money. You want a complete experience that engages your senses on a whole new level. That’s what’s at stake here.

If you want, you can create free accounts on virtual worlds like XANA, Decentraland, The Sandbox, or any other. Roam the terrain, visit places, and once you’re satisfied, invest.