You can look at buying land in Somnium Space as an investment in a property. Similar to the real world, owning virtual lands and real estate in Somnium Space brings various benefits. On your land you can build your virtual house, business facilities, centers for various events around which you can build various communities and the like. Everything you build can be cashed in. Visitors to Somnium Space will not have to buy land to visit and see the world. However, if you want to create, build and invest in the world itself, you need to know how to acquire virtual land.
How to buy land in Somnium Space?
Land can be bought and sold at the Somnium Space marketplace. Each plot is an NFT (non-fungible token) which means that it is unique and impossible to replicate. All lands are stored on the Ethereum blockchain, providing you with full ownership and the ability to customize the land to your own needs.
In order to buy virtual land in Somnium Space, you need to follow these three steps:
Step 1: Open the web3 wallet, as MetaMask
- To begin with, you need to send your ETH from one of the cryptocurrency trading accounts
- Be sure to transfer ETH to your online wallet before choosing the land you want to buy as it is possible that transferring ETH to your online wallet will take a couple of days.
Step 2: Browse the pitches on the online map
You can access the online map of Somnium Space for free and without downloading any apps. There you can get a glimpse of the appearance of Somnium Space. You can find the map here.
When you click on the plot, you will get a link that leads to OpenSea – the largest SITE for trading NFTs (we remind that the plots are NFTs). You can view one location in your browser, but in order to browse the whole world, you need to download the VR client from the main page of Somnium Space and follow the instructions you get there.
Step 3: Buy a plot on Somnium Space online market
Once you click on the Somnium Space Marketplace link for the plot you are interested in, the link will send you to the website with the offer. You can buy the parcel at auction (auction) or buy now, depending on what the bid is. What else you can notice in the offer:
- Dimensions of the selected plot
- By clicking on the properties, you can see the properties of the selected plot in relation to others
- The price, the current highest bid, if the plot at auction and the previous prices of the plot
Are all plots in Somnium Space the same?
All plots in Somnium are distinguished by the same fundamental features, although some specific characteristics can raise the price of a particular plot.
- Dimension: Each plot has a specified area and height to which it is possible to build.
- Location: The location of the plots is very important. Plots closer to transporters will be preferable.
- Traffic: Users will be created downtown the first time they launch Somnium. Owning a plot close to the busiest points will be most desirable due to high attendance.
5026 pitches in various sizes are available
In Somnium Space, 5026 parcels are available for purchase. The price of the plot depends on the size of the land, the properties of the land and the proximity to other facilities. Land prices range from 3 to 1000 ETH.
Plots in Somnium Space are available in 3 different sizes:
- Small – area: 200 m2; construction limit in height: 10 m; number of such plots: 781
- Medium – area: 600 m2; construction limit in height: 25 m; number of such plots: 2487
- Extra large – area: 1500 m2; construction limit in height: 50 m; number of such plots: 1758
Virtual worlds and parts of them are currently not recognized as as valuable as real land and ownership. But virtual ownership, with the transition of larger brands and corporations to virtual worlds, will become in demand and highly desirable in the future.