Buying and Selling Land
Decentraland Land Overview
Warning: this is a general guide. It may contain errors, and Decentraland may make changes in the future without this document necessarily getting updated.
Land, in Decentraland, is allocated in 10m x 10m square Parcels. One Land is one Parcel.
Land is tokenized, using an ERC 721 non-fungible token (NFT) called LAND.
Funbible Tokens, like Bitcoin, Ethers and Mana are all equivalent. You only care about how many you have, not which specific ones you have. They are indistinguishable.
Non-Fungible Tokens are each unique, as if they had a serial number and unique attributes.
Each non-fungible LAND token refers to a particular parcel of land in Decentraland with specific coordinates in the world.
Land can be managed (content uploaded to it) one or more parcels at a time, called "plots". See Creating Content
Land Purchasing Timeline
- Dec 13, 2017, 10PM GMT District Contribution deadline (now closed)
- Dec 2017 - Genesis City Auction (completed and closed)
- Feb 7, 2018 - Land Manager released - private LAND tokens can now be bought and sold
How To Buy Land in Decentraland
Starting February 7, 2018, privately owned Land can be purchased from its owner in a private transaction, using the Land Manager.
Here is the official company documentation for the Land Manager: https://docs.decentraland.org/docs/land-manager
Here is the original Blog announcement for the Land Manager: https://blog.decentraland.org/view-and-transfer-land-with-the-land-manager-d37ff5cd1d0f
Here is the channel in the Decentraland RocketChat for Land trading: https://chat.decentraland.org/channel/land_trading
Tips and Hints
Sometimes the volume of traffic on the Ethereum network is unusually high. This can cause you to have to raise the Gwei higher than the default that MetaMask recommends, to get the transaction to go through and to do so in a reasonable amount of time. You can get a recommended Gwei figure from https://ethgasstation.info/. Check out the Recommended Gas Price (Gwei) table down on the right. If you are going to increase the gas price on your MetaMask transactions, do it by changing the Gwei value in the Gas Price Gwei field of the MetaMask transaction before clicking Submit.
Be sure to click Sign or Submit on each of the several popups that MetaMask will present. If you have some that you haven't seen or clicked on yet, you will see a little blue number on the MetaMask icon in your browser. Click on the Icon, and process the Sign and/or Submit pages.
Warning: do not start another transaction until the previous one succeeds, or you will get a transaction stuck as pending.
(is this still true for LAND transactions?)
You can see the status of a MetaMask transaction in EtherScan.io by clicking on the transaction in MetaMask. If a transaction Fails, you will see the error in the Etherscan page. If a transaction shows "Pending" for a long time, be patient. If a transaction really seems stuck, report it in the terraform_dapp channel of chat.
How Much Land Will There Be in Decentraland?
The total MANA supply following the token sale is 2,805,886,393. Our MANA contract stipulates an inflation of up to 8% per year. However, this inflation will not begin until a later date.
2.805 billion MANA translates into less than 2.8 million land parcels: on the one hand, Genesis City parcels may sell for more than 1,000 MANA per parcel. Additionally, we're preparing other use cases for MANA, which are going to lower the available token supply that can be devoted to obtaining land.
Each land is 10m x 10m, or 100 square meters (a Vive play area is about 4mx4m). Hence, the initial size of the world will be under 280 million square meters.
If the entire MANA supply was to be converted at 1,000 MANA/parcel and it was arranged in a big square, it would be of about 16 km or 10 mi on a side.
Therefore, the land area in Decentraland will be something less than:
- the size of the original square of land allocated for Washington DC (10mi on a side)
- Twice the land area of San Francisco
- 1/3 the size of Singapore (719.9 km2)
- 17% of the size of the land area of Hong Kong (1,649 km2)
The initial area of land opened in Dec 2017, called Genesis City, for the Districts and for the first auction, was a square of 300 x 300 parcels or 90,000 parcels. Most of these were either contributed to Districts or purchased in the Genesis City Auction in Dec 2017. There remained some unsold parcels in Genesis City, which might be sold in a subsequent auction.
Which Land Should I Buy?
Some thoughts on what land to acquire.
Land outside of districts is privately owned.
You would buy it from its current owner.
They would sell it to you using the Land Manager.
Land near plazas, near districts and near roads will have higher traffic, and generally costs more.
Land far from such facilities is generally less expensive.
District Land or Membership
A few districts, like Arena, are actually private lands purchased together by people who wanted to be neighbors with some common theme or interest. If you wanted to buy land in such a district, it would be a private purchase from the owner(s) of particular parcel(s).
Most districts are entirely or mostly pooled land.
In general you cannot purchase pooled district land. However, pooled land districts may have a mechanism to buy into membership in the district. If you are interested in being involved in some way with a district, contact the leadership of the district through its public channel in the Decentraland chat.