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    What is Virtual Land? How NFTs Are Shaping the Metaverse

    Virtual real estate is being sold as NFTs across immersive metaverse games and has quickly created a billion-dollar economy.

    Learn The Landscape

    What is Virtual Land? How NFTs Are Shaping the Metaverse

    What is Virtual Land? How NFTs Are Shaping the Metaverse Virtual real estate is being sold as NFTs across immersive metaverse games and has quickly created a billion-dollar economy.

    By Kate Irwin Aug 31, 2022 6 min read

    Real estate is often considered to be a good investment—but what about real estate?

    Non-fungible tokens (NFTs) representing virtual land have become a hot topic since the advent of the metaverse—and there’s gold in them thar digital hills, with some plots of virtual land selling for millions of dollars.

    Virtual land forms the backbone of crypto-powered metaverse platforms like Decentraland and The Sandbox, and with legacy big tech players like Meta drawing up plans for their own metaverses, it’s set to become a key point of differentiation between centralized and decentralized metaverse offerings.

    As these competing visions of the metaverse’s future jockey for position, it’s first worth defining what the metaverse even is, and how virtual land will play an vital role in its development.

    What is virtual land?

    All virtual land exists in a digital environment also known as a metaverse. A metaverse is, typically, a video game or digital life simulation where you can interact with other players using a character which represents yourself.

    Virtual land, then, is the digital terrain—the geography and physical space—within which players can roam in the metaverse.

    What is the Metaverse? The Immersive, NFT-Powered Future Internet

    If you pay attention to the tech, gaming, or crypto worlds, then you might have heard about the metaverse well before late 2021. But even if you aren’t immersed in those spheres, chances are g...

    Virtual land can be as simple as a 2D pixelated environment, as abstract as a white or black 3D box space, or a rich 3D virtual environment populated with oceans, mountains, and just about anything else you can imagine.

    How does virtual land work?

    For one, virtual lands don’t require crypto—many video games have offered virtual land of sorts for decades. Depending on a specific metaverse’s design, virtual land can have an “open” or “closed” feel. Many metaverses will show loading screens when players switch between environments, like in the first two “The Sims” games or VR Chat, while other metaverses like “World of Warcraft” offer a more seamless, open-world experience.

    But some believe cryptocurrencies and NFT technology may be the key to a truly interoperable and open metaverse.

    0 seconds of 10 minutes, 8 secondsVolume 90%

    Matthew Ball on the Role of Crypto and NFTs in the Metaverse

    The former Amazon Studios exec and venture capitalist spoke with Decrypt’s Kate Irwin about how crypto fits into the metaverse at an event in Beverly Hills, California.

    Go to video page In Web3

    , virtual property or spaces are typically sold as NFTs, meaning the proof of ownership exists on a blockchain like Ethereum and essentially acts as a deed granting the holder access and control over said land.

    For example, within Yuga Labs’ upcoming metaverse Otherside, Otherdeed NFTs are deeds granting owners a piece of property in the virtual world.

    Did you know?

    Yuga Labs saw $561 million in volume traded for its Otherside NFT mint within just 24 hours.

    In April 2022, Otherdeed mints slowed the Ethereum blockchain to a crawl; in a desperate rush to claim their virtual land, some users reported paying thousands of dollars in Ethereum gas fees in hopes that their Otherdeed NFT would grant them precious resources—or an ultra-rare creature called a Koda.

    How to buy virtual land

    While the purchase process for virtual land can vary widely depending on the game and company behind each metaverse, plots of virtual land sold as NFTs can be either minted from the developer’s website (primary sale) or purchased on a secondary NFT marketplace like OpenSea.

    What’s so special about virtual land?

    It’s worth noting that virtual land as a concept has existed for a while. “The Sims,” which was released over 20 years ago, was a smash hit for its life-simulation environments, where players could create characters, buy virtual land, construct homes, and effectively experience a digital “life.” It’s since spawned three successful sequels with increasingly complex and open virtual worlds—but all are single-player games.

    For those looking for an online multiplayer experience with virtual land, Second Life, Habbo Hotel, and IMVU have been around for a while. All games offer a kind of alternate digital reality where players can escape into another world as a customized character of their choice.

    Did you know?

    Someone paid nearly half a million dollars to be Snoop Dogg’s neighbor in The Sandbox metaverse.

    However, to date, virtual land has been created and sold within closed platforms, with all the value accruing to the platform itself rather than to the users. In most cases, there are no secondary marketplaces for virtual land. With the advent of NFTs and decentralized metaverse platforms, it’s now possible for users to have true ownership of virtual land, including the right to sell it on and even migrate it between different metaverses.

    स्रोत : decrypt.co

    The Sandbox — Guide to Virtual Lands & The Metaverse

    Buying LAND in The Sandbox is a big step for many people, but a very rewarding one. This article will explain how to effectively and safely acquire LAND from The Sandbox’s LAND sales and the…

    The Sandbox — Guide to Virtual Lands & The Metaverse

    The Sandbox — Guide to Virtual Lands & The Metaverse A guide on purchasing your first LAND, valuing your LANDs, how to spot frauds, and where to reach out for support.

    Buying LAND in The Sandbox is a big step for many people, but a very rewarding one. This article will explain how to effectively and safely acquire LAND from The Sandbox’s LAND sales and the secondary market.

    But first, what is LAND and what can you do with it?

    LAND is a digital piece of real estate in The Sandbox’s metaverse. Each one is a unique and non-fungible ERC-721 token on the Ethereum blockchain.

    The main purpose of LANDs is to allow game designers and developers to publish experiences onto them, which can be played by gamers and monetised by themselves. But other utilities will be available, such as the ability to rent out LANDs and stake on LANDs. There are two types of LAND — regular and premium.

    Read more about LANDs at these following links:

    What is LAND? | The Sandbox Knowledge BaseWhat is premium LAND? | The Sandbox Knowledge BaseWhat can you do with LANDs? | The Sandbox Knowledge Base

    Purchasing LANDs from The Sandbox

    LANDs are purchased from The Sandbox during public LAND sales, which are announced in our official communities in advance. To purchase LAND from The Sandbox, you need to have registered an account first.

    - How to register an account at The Sandbox | The Sandbox Knowledge Base

    You will also need SAND inside the wallet that you have connected to your account at The Sandbox, as well as ETH for the blockchain’s transaction fees.

    - How to get SAND | The Sandbox Knowledge Base

    - How to get ETH | The Sandbox Medium

    During public LAND sales, those interested in purchasing LANDs will need to head over to the map on The Sandbox’s website. And then to purchase LANDs:

    Click on the available LAND that you wish to purchase.

    Available regular LANDs will be grey and available premium LANDs will be yellow.

    A panel will open on the right of the screen. Click the blue buy button.

    The LAND will become booked until the transaction is complete, the transaction is cancelled, the transaction fails (ie due to insufficient gas), or the transaction times out (after two hours). The LAND will turn purple to indicate it is booked.

    Your wallet should now pop up, asking you to confirm the transaction and set how much gas (charged in ETH) to use.

    Once confirmed via your wallet, the transaction will be in progress. The time it takes to complete is affected by your chosen amount of gas and also any congestion on the blockchain.

    Once successful, the LAND will turn red to indicate that you now own it.

    Other useful links:

    - A more detailed written guide on buying LANDs from The Sandbox.

    - Public LAND sale frequently asked questions & troubleshooting.

    Purchasing LANDs from OpenSea

    OpenSea is a secondary, third-party marketplace where you can purchase many NFTs, including The Sandbox LANDs. You would need to register for an account at OpenSea to purchase the LANDS from there. And you would also need to register an account at The Sandbox to use the LANDs on the platform. LAND can be purchased in SAND or ETH on OpenSea, which is dependent on the choice of the seller.

    We advise using the same wallet on both platforms, to avoid having to pay fees to move the LAND from the wallet you’re using on OpenSea to the wallet that you’re using on The Sandbox.

    We have a detailed guide on our knowledge base on how to purchase LANDs on the secondary OpenSea market, please click here to go there.

    Identifying genuine LANDs on OpenSea

    Just like most other places in the online world, there are a fair share of shady and malicious individuals trying to mislead good, genuine people via secondary NFT markets. Below, we will share some advice to make sure the LAND you are viewing on OpenSea is genuine.

    The search results page

    On the search results page, make sure that:

    A genuine LAND listing on OpenSea

    There is a blue verified checkmark next to the collection name.

    The name of the collection is written correctly. For example, we are not called “Sandbox”, we are called “The Sandbox”.

    The co-ordinates are written in the correct format and aren’t nonsensical.

    Check these co-ordinates on The Sandbox’s map.

    There is a snowflake icon indicating that the metadata is frozen, and therefore the LAND is stored on a decentralised server.

    On the LAND’s listing pageOn the page of the LAND which gives further details about it:

    A genuine LAND listing on OpenSea

    Make sure there is a blue verified checkmark at the top of the page. And that the collection name — The Sandbox— is written correctly.

    Make sure the snowflake icon is shown in the top-left, indicating the metadata is frozen and that the LAND is stored on a decentralised server.

    स्रोत : medium.com

    What is a LAND?

    Find out what a LAND is in The Sandbox Metaverse.

    The Sandbox Knowledge Base (English)



    How to create an account on The Sandbox

    What is a cryptocurrency wallet and why do you need one?

    The Metaverse Map THE SANDBOX - SAND What is SAND?

    What is SAND used for?

    Buying and selling SAND

    Bridging SAND to mSAND

    More about SAND THE SANDBOX - LAND What is a LAND? What are ESTATEs?

    What are premium LANDs?

    What are DISTRICTs?

    How big are LANDs and ESTATEs?

    What can I do with a LAND?

    Buying, selling and renting LAND

    How to buy LAND on OpenSea

    Games and experiences on LAND

    Transportation and portals

    More about LAND

    LAND Deployment on Polygon


    About Staking Staking Dashboard

    Stake SAND-ETH (Ethereum)

    Stake mSAND-MATIC (Polygon)

    Stake mSAND (Polygon)

    Withdrawing Claiming Rewards

    Frequently Asked Staking Questions


    What are ASSETs?

    General frequently asked ASSET questions

    Buying and selling ASSETs


    Designing and publishing games

    Playing games

    General frequently asked game questions

    Game Maker


    About The Sandbox Marketplace

    General frequently asked marketplace questions

    How to buy NFTs from The Sandbox Marketplace

    Buying and Selling on The Sandbox Marketplace (FAQ)


    The Sandbox Alpha Contests


    The Game Maker Fund

    Game Maker Fund Projects

    The Creator Fund

    The Ambassador Program

    Creator Hall Of Fame 🏆

    Creators For Hire Metaverse Agencies


    Forgotten passwords or login credentials

    Changing a connected wallet

    Withdrawing funds from your Sandbox account

    Add the SAND & LAND tokens to your wallet

    Adding Polygon To Supported Wallets

    Account and Wallet Security

    What is a hardware wallet & do you need one?


    The Polygon Bridge

    Bridge your Tokens from Ethereum to Polygon

    Withdraw your Tokens From Polygon to Ethereum

    Access Pending Transactions

    Cashback FAQ THE SANDBOX - OTHER About The Sandbox

    About The Sandbox Team

    What is The Sandbox Foundation?

    What are non-fungible tokens (NFTs)?

    Earning $SAND and Non-Fungible Tokens (NFTs)


    Terms of use, privacy & legal


    Tutorials & Academies

    Social networks, news & blogs

    Community chat & support


    The Sandbox (SAND) | Binance Research Paper

    Roadmap Press kit More resources Powered By GitBook

    स्रोत : sandboxgame.gitbook.io

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