Decentraland is a decentralized virtual world that facilitates users to develop and find virtual reality. The users not only can purchase plots of land (non-fungible unique digital assets) that they can produce but also are able to buy, sell and build in game digital real estate, artwork, and NFTs. It covers the data of the location, owner, content information, and access controls.
Decentraland game is defined as a social experience in which gives the users the opportunity to interact with other community members. The platform is community-owned and is built on the Ethereum blockchain. The Decentraland Foundation, the organization that developed Decentraland, was founded by Ariel Meilich and Esteban Ordano in 2015. In January 2020, the access to the virtual world was obtained in Decentraland. It has since become one of the most sought-after metaverses in the crypto universe. The game has its native tokens called MANA and LAND.
Decentraland: A virtual, decentralized world
If you wish to join Decentraland, there are two options: a guest or a member; as a guest user, you can simply explore the world by opening its website in a browser. Then, make an avatar, name it, confirm your legal age, accept the terms and conditions, and you are done!
But as a member you are required to have a crypto wallet. All your cryptocurrencies and other digital assets you may gain in the game could be properly stored in your wallet. If you don’t have a wallet, you’ll only be allowed to walk around and customize your avatar; you won’t be able to participate in activities.
As already mentioned, Decentraland is conceptualized in terms of social development and advancement, the developer team decided to name the stages in the game. Stone Age was the name given to the first version of Decentraland’s metaverse. it was released in 2015, and consisted of pixels in an infinite 2D grid. The next stage was the ‘Bronze Age’ and was introduced at the end of 2016. The team expanded Decentraland into a 3D world with divided plots. Later, they created a P2P network and called this test stage Iron Age. It provides a fast paced environment where users can create apps, interactive content, and communicate with other users. It is supported by Ethereum, which acts perfectly to support the Decentraland metaverse ecosystem.
The last stage offers some unique characteristics. Users can develop 3D environments and avatars and monetize various digital assets on Decentraland. There are unlimited possibilities! Once in the virtual environment, users can go around wherever they wish or utilize the map to teleport to a specific location. Users even can take their avatars to a virtual club, see NFT art displays, compete in a racing game, or catch up with virtual friends.
The avatar is a digital representation of the users, so they can customize their avatars in various ways to make them unique. Variety of facial features such as eyes, smiles, or facial hair, as well as the ideal outfit, skin tone, and hairstyles are provided in the game. When the avatar is all set, it is ready to explore the virtual land.
Games on Decentraland
There are also a variety of games to play in the metaverse. Some games feature a play-to-earn economy where playing games is rewarded by earning money. For example, Ethermon, WonderQuest, Tominoya Casino, a virtual casino created by Decentral Games, or Battle Racers, a racing game. Atari, the video gaming legend, also has a metaverse estate.
Also, the opportunity is provided for the developers to utilize Decentraland’s Software Development Kit to create games on their LANDs.
Economy of Decentraland
Decentraland is administered through the Decentraland DAO, a decentralized autonomous organization, with its own native tokens MANA and LAND.
MANA is the cryptocurrency of Decentraland, and it has a limited supply. Because it is an ERC-20 token (fungible token), it can be purchased and traded on crypto exchanges such as Binance and Huobi Global and “stacked” on DEXs such as Uniswap and Sushiswap. It can be used to pay for avatars, LAND, accessories, collectables, gaming, and other things in the metaverse.
The land is a “non-fungible, transferable, scarce digital asset stored in an Ethereum smart contract.” Decentraland is made up of 90,601 LAND parcels measuring 16×16 meters in size. Each parcel is an NFT that can be identified by its virtual world location/coordinates. It also includes information about the owner.
The protocol of Decentraland is divided into three layers:
- Consensus layer: An Ethereum smart contract is used to track land ownership and land content.
- Land content layer: To render content in the virtual world, a decentralized distribution system is used.
- Real-time layer: Allows users to interact with one another via peer-to-peer connections.
Further, Decentraland provides auctions and trading in private chat and marketplace to make the trades possible. Auctions are public and the first Land Auction was held in 2017. When the first auction concluded, over 2,000 individual wallets owned land. Unsold lands totaled 9,331 and were sold at a later date. Meanwhile, there was a thriving market for buying and selling land. People were buying and selling these lands privately while it was thrilling, exciting, and extremely risky since Decentraland’s marketplace had not yet been launched.
How do you get started in Decentraland?
The Decentraland Marketplace is the company’s internal ecosystem for transferring LAND and Estate parcels, as well as wearables and unique names. The Marketplace facilitates listing and P2P transactions between users who set their own prices and negotiate their own deals. There is an Atlas view, which looks like a surveyor’s map and shows which LAND parcels and Estates are for sale and other LAND and who owns it if any. You can purchase LAND outright or place a bid on any LAND you see. A more traditional Marketplace view is available, where you can view various listings, including non-LAND assets such as wearables and unique names.
Decentraland Agora Voting
It is a medium of voting. The community is polled on questions, and users vote here with MANA.
If you want to begin custom building on land parcels, you can do so with Decentralands SDK.
A cool drag-and-drop builder that allows you to simply drag-and-drop epic builds. Decentraland has released an SDK as well as an in-app GUI called Builder that runs the SDK behind the scenes. The Builder functions as a visual editor, allowing users to create ‘scenes’, which are graphical objects that can be loaded into Decentraland. Scenes can be loaded on LAND that you own or LAND that has permitted you to load them on.
Create your avatar as you must have one before you can travel the world! In Decentraland, avatars are visual representations of users. Because avatars are outside the scope of third-party development, they can only be customized in-app. One peculiarity is that each avatar has a distinct name. By using a Decentraland wallet and paying 100 MANA, you can claim your avatar name before it is taken. You can, however, create it without claiming a name or claim it later. When you create an avatar with the Decentraland wallet, you will receive a passport, which will serve as your digital identity in the Decentraland ecosystem.
The difference between Decentraland Game and other metaverses in that a centralized body does not govern it. In fact, it is controlled by metaverse users who own MANA and LAND through the Decentraland DAO which means that the players have complete goverance over everything from land to assets. It means that token holders have the ability to create and vote on metaverse development proposals. Holders can also create polls, vote on policy updates, token economics, and LAND auctions, among other things so that they have the following voting power depending on the token hold:
- MANA wrapped – one voting power
- LAND – Voting power of 2000 units
- Estate – Voting power of 2000 units
Making money with Decentraland Game
Once you join Decentraland, there are several ways to make money. Like in the real in the world, virtual real state is gaining lots of attention. Because LAND is a limited resource, many people believe its value will rise over time.
When you purchase LAND, you can host applications such as games or gambling, advertising, or gaming communities. You may also set entry fees for any application you provide in your land. Also, lands can be rented or sold to developers and content creators who wish to build on it.
Further, you can play a variety of casino or play-to-earn games to make a lot of money. For example, $DG tokens could be earned in Decentral Games’ virtual casino through affiliate bonuses and governance rewards.
Generating real-world job opportunities is also provided in the metaverse. For example, Tominoya Casino has hired at least 20 part-time greeters as well as a manager.
How is Decentraland Network Secured?
Metaverse 2 has been created in Decentraland using TypeScript coding. The protocol secures the system on which the VR ecosystem is hosted and was designed to support increasing users. Also, using Ethereum offers an additional layer of security.
The first layer of the system secures tracking and recording LAND purchases and ownership of VR parcels on the Decentraland VR platform secures.
MANA is an ERC-20 token that can be stored in almost any wallet, hardware or software wallets, which supports Ethereum-based tokens. The amount of money you want to store and what you intend to use it for affects the type of MANA wallet you select.
Hardware wallets, such as the Ledger or Trezor, offer the most secure option, with offline storage and backup. However, hardware wallets have a higher learning curve and are more expensive. Software wallets, however, are both free and simple to use. They can be downloaded as smartphone or desktop apps. While software wallets are more convenient, they provide less security than hardware wallets and may be better suited to smaller amounts of MANA.
Future of Decentraland Game
By now, Decentraland provided a way for individuals to meet friends, visit galleries, buy art, party at clubs, and more. The future of metaverse directly depends on increasing the number of users who visit and interact with the platform.
There has been a great development with metaverse since it was launched, and many new features has been introduced on a regular basis. Plenty of additional features are also planned to be added soon. The metaverse in the following months will be determined by how well it rises to the challenge, how much it improves its features, and how it responds to existing concerns.
Decentraland, as one of the most popular metaverses currently available, appears to have a promising future. Furthermore, Decentraland is a great place to start for those new to the metaverse, especially given its ease of use. It may even be a profitable investment in the long term.