A Quick History Lesson of Decentraland Land Sales Since ICO – For New Investors!
Posted On June 25, 2018
There’s a LOT of new investors entering Decentraland. Some want to build cool things, others want to make money by flipping land or maybe even potentially building experiences and monetizing their land.
I thought I’d dedicate a post on the historical growth of Decentraland and how the projects has progressed to what we see today.
In Mid December, the first Decentraland land sale was held. This part of Decentraland History is probably the most important part to fully understand, especially if you’re an investors.
Every land parcel, (all parcels excluding genesis plaza’s, roads and districts), were put up for sale with a minimum bid of 1,000 MANA.
So if I had 10,000 MANA I could log in to the land auction and effectively bid for 10 different lands. If someone else came and wanted that land they could bid 1,250 and they would have potential ownership on the land if they weren’t outbid by the end of the event.
At the end of the terraform event, all MANA spent on land was burnt removing them out of circulation! This is one of the biggest reasons I invested in this project as I know there will be another decentraland land auction for the lands with no owners that will burn even more MANA!
Anyway, 10’s of thousands of parcels were sold, most at 1-2,000 MANA but many were sold for way more, especially near the centre of the plaza.
After 2 weeks, the auction ended and the first owners of decentraland land existed.
Buying and Selling Decentraland via Private deals on Telegram and Rocketchat
So now there were a ton of Decentraland investors with lots of land parcels in their wallets and no market place to sell them on.
That’s right, the land marketplace you see now didn’t exist back then so the only way for new investors to buy land was to find a buyer and manually do a private deal. (Buyer sends MANA to sellers account, seller sends LAND parcels).
Obviously a risky endeavour but very fruitful if you could find people that just wanted to sell their land.
This is where I came in and desperately wanted LAND. I initially just wanted to invest in a few pieces of LAND but before I knew it I had bought 30 to 40 pieces of land all across the map for 2-4,000 MANA each!
I had no idea what these were worth but I knew they will be worth more in time and will be a great way to diversify my portfolio.
Before discord, there was rocketchat with close to 20,000 members! So it was easy to buy and sell land if you could market it well.
The Decentraland Land Marketplace Opens
The devs realized that they had to prioritize a creating a market place as they saw so many land deals occurring on reddit and chats so in March they released the first version of the market place we could list our lands and sell them on!
Finally, an official way to list and sell/buy lands. As investors, we could finally see what lands were worth what.
People listed their lands at a variety of price points. Some extremely high, some extremely low that were bought within seconds. It was a gold mine as many people were dumping their land for 2-5,000 MANA and we were buying them and relisting.
After a while the whole land market started to get a feel for what different land parcels were worth and things settled down a bit.
Land sales have doubled Cryptokitties sales volume in the last 30 days generating more USD and Eth then any other DApp!
It reminds of the buzz surrounding Decentraland when the marketplace was first released. Everyone was buying land but that time it was just the original investors who already had land and wanted to stock up on more with a trickle of new investors.
Now it’s a lot of new investors that want to buy and build they’re creations on this awesome virtual city.
Decentraland is shaping up to become an epic world where virtual real estate ownership is going to see a huge uptrend and who knows what the future holds for decentraland?
For further MANA coin news check my blog feed or the official decentraland blog.