NFT Admin
Purchasing and selling land in Decentraland is a significant leap for many investors. It is a fantastic strategy to enhance your fortune. Every property piece is a non-fungible token, which means it is unique and cannot be fabricated or replicated, similar to real estate.
On the official Decentraland Global market, anyone can buy, sell, or lease land from one person to another. When you hold a land token, you legally and indisputably own that plot of land since all operations are processed on the Ethereum network as real proof of ownership.
This article mainly focuses on how to sell land in Decentraland, but first, we will have to grasp the background knowledge we will need to get started.
What is Decentraland?
Decentraland is a web-based 3D virtual global platform. Users may use the MANA cryptocurrency, based on the Ethereum blockchain, to purchase and sell digital parcels of land in the marketplace as NFTs.
Decentraland is an Ethereum-based program that aims to encourage a worldwide network of users to govern a shared virtual environment. Users of Decentraland may explore, engage, and play games in this virtual environment while buying and selling digital real estate.
How does Decentraland work?
Decentraland is a decentralized virtual world framework where you may use cryptocurrency to buy and sell land parcels. Landowners in the system may manage policies and govern how the world acts through a Decentralized Autonomous Organization (DAO). This online game is a virtual world where people make laws.
Consumers may produce, experience, and commercialize information and software. In Decentraland, the community owns the land in perpetuity, allowing them ultimate authority over their plans. With MANA, you may purchase land tokens and construct whatever you want on them, such as businesses, galleries and museums, and nightclubs.
Users can claim ownership of digital land through a blockchain-based parcel registry. Property owners manage what is published on their parcel of land, defined by a set of cartesian coordinate systems. The data may range from static 3D sceneries to interactive systems such as games.
Decentraland marketplace
The Decentraland marketplace allows you to trade and maintain all of your on-chain Decentraland assets. You may employ the marketplace to perform the following functions:
- You may sell land blocks and Estates, as well as wearables. In MANA, you may choose your pricing and an expiry date for the deal.
- You may purchase plots and Estates, as well as wearables and one-of-a-kind names.
- You can transfer your Decentraland assets to another user.
- It allows you to look around the world on a map to discover who possesses what, what wearables are available, and who has grabbed avatar identities.
- You will be able to name your parcels and Estates and provide a public description for them.
- Other users will need rights to deploy on your property, which you will have to offer.
- You may also manage Estates by creating or dissolving them.
What is an Estate?
An Estate is a non-fungible digital property, just like a land parcel. However, an Estate is a collection of two or more pieces of land that are near together. These lots must be adjacent and cannot be separated by a roadway, plaza, or another plot.
You may govern your more enormous Estates more effectively by attempting to link parcels to form Estates. Estates are very handy for creating extended sequences that encompass several properties.
Steps to selling a land parcel or an Estate
The marketplace presently hosts land and names on the Ethereum network; therefore, login and authenticate onto an Ethereum client account that can communicate with a web browser before accessing the marketplace to sell your assets.
In order to sell a parcel of land or an Estate on the Decentraland, follow these simple steps:
- On the Decentraland interface, go to My Assets and click on the asset’s details page.
- Select the Sell option from the details page.
- You will be prompted to enter a price and an expiration date before clicking List for sale.
- You will have to retype the price you are selling it for confirmation.
- Wait for the network to validate this transaction once you confirm it on your Ethereum client.
If this is your first time trading on the Marketplace, you will be prompted to approve a one-time transaction to enable MANA to be accepted.
You can change the price of a previously established sale without canceling it and start all over again. Simply go to the details page for the land parcel or Estate and select the Update price option.
Conclusion
The field of digital real estate is still in its early stages. You can bet that more and more technologies will be released in the future that will make purchasing and selling digital land easier.
We hope this article has provided you with some helpful information about Decentraland and how to sell your assets in its marketplace.
