Decentraland Mortgages – How it works & a look at Ripio Credit Network

The first ever virtual LAND mortgages are now available in Decentraland, by way of a smart contract and a unique collaboration between Decentraland and Ripio Credit Network.

This partnership, the very first of its kind, is a clear demonstration of how smart-contract based businesses are starting to work together to build the foundations of what is a very cutting edge, and exciting industry to be involved in.

In this article we take a closer look at Ripio Credit Network (RCN), and how you can get a Decentraland Mortgage.

“RCN is a global smart contract and blockchain-based credit network that connects lenders and borrowers located anywhere in the world and on any currency guaranteeing transparency and reliability in the lending.”

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How to get a Decentraland mortgage

This revolutionary approach to buying LAND (which is now available in the marketplace) will make LAND ownership in Decentraland much more widely accessible, and at the same time open up whole new markets and possibilities.

Step 1 – Buying: How the process of applying for Decentraland mortgages works

  • Click on the parcel of LAND you wish to purchase in the Decentraland marketplace


  • Complete the application. Details include amount requested, interest rates, duration etc

  • Make a down payment of 10% of the total parcel value

Lending: How the process for Decentraland mortgages works for the lender

  • The completed application is then turned into a loan request and is published on the RCN dApp
  • A lender will then agree to fulfill the mortgage request with RCN
  • LAND ownership is then transferred to the buyer
  • The smart contract ‘locks’ the LAND parcel until the mortgage payment has been repaid, as per the agreed terms

Step 2 – Buying: How the process of completing payment and claiming your LAND works

  • A ‘PAY’ button will now appear on the Decentraland dApp
  • Once payment of the mortgage/loan is complete, a ‘CLAIM’ button will appear on the Decentraland dApp. Once claimed, the transaction is complete and full LAND ownership is released by the smart contract

Failure to repay the mortgage (within the agreed terms + 7 days after loan expiry) will result in you losing the paid amount, and you will not be able to claim the LAND

>> For a more in depth look at the process, you can read the official post here

>> To read the official Decentraland blog post click here

>> To read more Decentraland LAND news click here

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