Decentraland Metaverse: Is it Worth Investing in Decentraland?

• Decentraland is a Virtual Reality (VR) platform developed on the Ethereum blockchain offering a 3D digital game allowing users to be a part of a shared digital experience.
• The platform offers a variety of services including buying and selling digital real estate, wearables along with exchanging collectibles, interacting with people, and playing games.    

Metaverse is a digital space that uses augmented reality, virtual reality, and other technologies to offer a lifelike experience to individuals. The space allows individuals to interact with each other in a virtual space and appears to be the future universe. 

It is a 3D virtual platform where users can buy or sell land along with playing games and interact with people. It is the first decentralized metaverse that is developed, governed, and owned by users. Simply, it is a software running over Ethereum with the purpose to attract more and more users to the virtual world.           

An Overview of Decentraland

The 3D virtual space within it is termed LAND and is divided into parcels that are owned by the community members. A parcel is an area of land in it and is measured by cartesian coordinates (x,y). The parcels are permanently owned by the community members and are purchased using Decentraland’s cryptocurrency token, MANA. 

The tokens are also used for playing games, buying or selling any wearables, and exchanging collectibles.  

Decentraland has around 90,601 LAND parcels including different locations like Genesis Plaza, The Office, MetaGami Mall, Consensys HQ, etc. Genesis Plaza, WonderMine, ICE Poker, and Meta GamiMall are some of the most active places in the space whereas ABC DCL Clubhouse, Holy Temple-Jesus, and Soul Magic Treehouse are some of the highest-rated places in the space. 

Fashion Street Estate which is around 6,090 virtual square feet in size is considered to be one of the most expensive land sales in the virtual world for $2.4 Million which is around 618K MANA.

Focusing on the events, the digital space offers different types of games including one-time events and recurring events. Cycling competitions, DAO Town Hall, Consensys HQ Reveal, and PAN’s DJ Live are some trending events in the Decentraland world. Other gaming options include Pokemon, Hustler Casino, and Black Forest Battle Alpha Launch.

Apart from purchasing land, attending events, and playing games, users can also interact with individuals and attend parties themed UnMonday Night, Social Fridays, etc.           

How to Make Money by Playing?

Decentraland currently has around 80,000 members that make money from different sources. Trading land, creating and selling assets, playing decentral games, play-to-earn games, and buying and selling MANA are common ways to make money on it. The space also allows the users to create their own Minigames along with participating in the games to earn NFTs or unique items. Selling the developed games also helps users in making money.          

Conclusion

Decentraland is a VR platform developed over the Ethereum blockchain offering individuals a digital experience. It is one of the most popular social virtual platforms in the metaverse and the first decentralized online setting. The platform offers a variety of services including buying and selling land, playing games, attending events, or exchanging collectibles.