In today’s world, cryptocurrency has witnessed tremendous growth and popularity. There is less chance for it to go down soon. Crypto means it is a form of digital currency to purchase and sell goods online. Now, looking into Decentraland. It is also referred to as MANA, and it is nothing but a virtual reality platform. It was presented by Ethereum blockchain technology in 2017 with an initial coin offering of about 24 million dollars. In this article, we make you clear about this Decentraland and what its features are.
What is decentraland?
It is a virtual world software where people can buy and sell LAND, Estates, Avatar wearables, and other things available there in decentraland. They use cryptocurrencies to buy all these things in non-fungible tokens (NFTs). It is not like other virtual reality world games because everything people buy here is their asset and everything has ownership. Here you can see from the normal transport system, movie theatre, hotels, to anything you see in the everyday world.
The plot of land in Decentraland
In Decentraland, they have 90,601 individual plots of virtual land. They’re all in the form of NFT, also known as LAND. So NFT transaction is a LAND trade. Buying a property of land is the initial purchase, then you can create an entire virtual city for yourself.
With the Estates feature, multiple plots of lands can be managed. A group of lands having the same theme can be called districts. So people with the same mind and interest can form a community. In addition to all these features, it has voting rights called Agora. It allows users to gain more control over the district’s development.
Key features of Decentraland for players
Before entering this virtual world, be aware of these features for you as a player.
Once we enter this world called Decentraland, we have to create a virtual character. This will be our Avatar for you in the game. Moreover, you can customize your Avatar with its hairstyle, looks, clothing, and more accessories. Each player has a unique passport, which they will use to access the game and the Ethereum wallet.
As we said earlier, it starts with buying a LAND for you on Decentraland. Then you can buy anything as your property, and so you become a builder. It’s done with simple steps, and no coding knowledge is involved here. It has pre-built scene pools that can be processed from the marketplace available there.
It refers to the exclusive shop on Decentraland. From there, we can check the availability of LAND to purchase and also make in-world item purchases. All our purchases are recorded on your passport, connected to your Ethereum wallet. We don’t need to worry about our money because these are NFT based purchases. Once you invest money, it’s all yours.
Benefits of Decentraland
Virtual NFT marketplace
This Decentraland Virtual platform is based on the NFT sales inside the game. We can see NFT auctions, where we can buy different players’ places. In addition to this auction, we can also find the London-based auction house. It displays virtual art present inside the Decentraland world.
Virtual Real Estate
Decentraland is the first virtual reality and blockchain-based gaming platform, offering a 3D experience with virtual properties like real-world real estate. Once we make a purchase, we can buy, sell, or build this real estate, increasing its value again.
One of the great features is advertising your business or your properties.
Decentraland is a vast platform where real-world business people advertise their brands to people. This is the core feature of Decentraland, and its competitors have not introduced it yet.
Store of Value
The store of value describes the virtual estate and MANA token in Decentraland. It will be your asset that may increase its importance, especially in the ball run.
Drawbacks of Decentraland
Since this runs only on browser mode, it is slow and lagging sometimes. In normal computers, it cannot run for a long time. Your earnings depend on how much time you spend there. However, the team is working to fix all these issues.
Low Adoption Rate
The report says Decentraland has nearly 1000 active users per day. Compared with mainstream games, this number is very small. Hopefully, this blockchain gaming of Decentraland is in developing mode.
This virtual world cannot mature content like using abusive language, gambling, etc. If they fix this issue automatically, the Adoption rate will increase.
Frequently Asked Questions
Is Decentraland safe?
Here your funds are safe when stored on a decent hardware wallet. The physical devices available here are more secure than those software wallets or exchange wallets. The reason is that your wallet’s info is never stored online.
Why is Decentralland slow?
This warning note describes that you are using a sub-optimal setup for rendering 3d graphics.This will be the reason for experiencing laggy and unresponsiveness while on Decentraland. You will experience missing frames as you move around in a jumpy way.
What browser supports Decentraland?
Decentraland runs in all web browsers and is compatible with all operating systems. It’s just like the website you browse on the internet. So there is no requirement of downloading software for using Decentraland. We recommend you browse this on Google Chrome for Windows and Safari for Mac. Note that there is no specific software needed for using Decentraland.
Is Decentraland open source?
Decentraland is an open-source initiative to build a virtual reality world for making purchases and building your emperor. Blockchain technology is used here to claim and transfer land and keep a permanent record of ownership.
What do players do in Decentraland?
In this virtual world, players can purchase the plots, virtual estates and other assets present there. Players can live virtually as we do in the real-world. They advertise whatever they want, making to sell their assets.
Decentraland is still in the development stage. It crossed some stages like the stone age, bronze age, wherein all stages came with new features. Decentraland’s goal is to make their economy, where people can purchase and advertise their products and services. We have explained about Decentraland and all its features. Make your decision, book your plot, and then develop your virtual world assets.