Learning The Basics - Decentraland
You do not need to own LAND in order to visit and enjoy Decentraland, however, if you decide you would like to invest and build in Decentraland, you should know the following information…
Each LAND parcel is a non-fungible token (NFT, ERC 721) which means it is unique and cannot be forged or duplicated, the same as physical land in real life.
Anybody can buy, sell or rent LAND at any time, peer-to-peer on the official Decentraland Marketplace, or via Opensea. All transactions are stored on the Ethereum blockchain as true proof of ownership, so when you buy and own that LAND token, you officially and unquestionably own that piece of LAND. Every Decentraland LAND token has unique co-ordinates which represent a specific location on the Decentraland map. Proximity to popular areas e.g. roads, plazas, typically determine their value.
If you own and connect adjacent parcels of LAND on the map, then this is referred to as an Estate, and permits the owner to build higher.
Decentraland also offers the option to take out a mortgage on land. You can read more about that here.
Land auctions: All land was initially sold at auction. You can read more about that here.
Metamask is required to buy and sell land in Decentraland. (see Virtual Land section)
Total LAND: 90,601 (43689 private LAND parcels, 33886 district LAND, 9438 roads, 3588 plazas)
Each LAND Size : 16m x 16m square spaces (previously 10m x 10m, changed in Feb 2019)
Highest ever sale (1 LAND) : 2,000,000 MANA (source)
Highest ever sale (Estate) : 2,772,000 MANA ($116,424 at time of purchase) (source)
Average price per LAND (ETH) : CLICK HERE
LAND Price Index by Metalith : CLICK HERE