The procedure for purchasing an NFT is the same as for any other NFT. To get started, all you need is a wallet and some cryptocurrency. Make careful to conduct your own research before taking any chances, as with any investment.
Step 1. Choose a metaverse platform
You must choose a metaverse platform before purchasing metaverse property. Your choice of project, which we shall discuss later in our tips section, will depend on your motivations for purchasing the land. For the purposes of this tutorial, we’ll utilize The Sandbox on Ethereum as an example; Decentraland is a different much-liked choice.
Step 2. Set up your wallet
In order to access the cryptocurrencies you possess, you must build a wallet. Depending on your preference, you can use a browser-based wallet or a mobile wallet. On the other hand, there will normally be less issues when using a browser-based wallet.
Although various blockchains are supported by MetaMask and Binance Chain Wallet, you should always confirm that the wallet you select supports the NFT land blockchain.
You’ll get a phrase known as your seed phrase when you set up your wallet. As this is how you’ll be able to get your wallet back if you lose access, keep it in a secure location. The location where you store it should always be offline.
Step 3. Connect your wallet to the Sandbox marketplace
Land parcels up for bid can be seen on The Sandbox’s map. While some of transactions are housed on other exchanges like OpenSea, some can be done directly through The Sandbox marketplace.
Step 4: Purchase ETH or SAND on Binance and add the funds to your wallet.
You’ll need either SAND or Ether (ETH) in your wallet to buy or bid on land. Purchasing ETH is probably more beneficial as most Only ETH is accepted at the Sandbox land sales. With your Binance account, you may buy SAND or ETH with a credit or debit card.
Step 5: Pick a LAND lot
With the criteria below, you can quickly browse the land that is up for bid or purchase in The Sandbox. You will typically only find land available on OpenSea because much of the property in The Sandbox has already been purchased. Through The Sandbox map, you can still place a bid on these sales, though.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.