The Metaverse is evolving quickly, and if you aren’t ready, you could miss exciting and lucrative opportunities for your business. Decentraland is a Metaverse provider offering a decentralized world where you can buy, sell, and trade digital assets and build unique 3D applications you can monetize easily.
What is Decentraland?
Decentraland is a virtual 3D world developed by the DAO (Decentralized Autonomous Organization). It owns the platform and essential digital assets like the LAND, Estates, Wearables, Content Servers, and Marketplace.
Decentraland is the original decentralized virtual world powered by the Ethereum blockchain. Rather than being owned by a company or organization, ownership belongs in the hands of its users. Everyone who uses Decentraland can vote on major decisions shaping how the virtual world works, what items and content are allowed, and other important policies.
How Does Decentraland Work?
Decentraland is an entirely virtual world made up of space called LAND, which is purchased and permanently owned by members. LAND is a non-fungible digital asset divided into parcels. Some of these parcels are grouped into communities called “Districts.” Typically, these districts are used as shared community spaces for members with common interests and goals.
Users must purchase LAND, wearables, and other items using MANA, Decentraland’s cryptocurrency token.
You can access Decentraland on a computer but not on mobile devices yet (they are working on it). The system works best on Google Chrome and Firefox browsers. You will also need a digital wallet so you can purchase digital assets.
LAND is limited to stabilize the value, and it is equal to the fixed total of MANA within the world. Digital asset investors will want to purchase land now as it will increase in value later as additional users join the platform.
How Can Decentraland Help Your Business?
Decentraland describes itself as the first decentralized world “where users can create, experience, and monetize their digital content and applications.”
Businesses can purchase LAND and build 3D (three-dimensional) spaces and applications on the land to share, trade, and sell to other users. Members can join and visit the Decentraland Marketplace to purchase LAND and Estates. Periodically, the platform holds LAND auctions to sell off parcels and Estates.
Due to the nature of Decentraland, all the audio and visual content is stored on multiple servers. Therefore, anyone can add a new server to the environment. The DAO will vote on the addition of new servers. Therefore, you can create applications to share within the 3D world and bring your own content server with you.
The heart of Decentraland is its Marketplace. Here you can buy and sell parcels of LAND. You can also purchase and sell wearables and Estates that are on sale. Since every avatar must have a unique name, you can also purchase available Names. Within the Marketplace, you can also:
- Transfer digital assets to another user
- View a map to see who owns what
- Name your parcels and Estates
- Grant other users’ permission to use your LAND and build on it
- Create, manage, and dissolve Estates
Using the built-in LAND Manager, you can name your parcels and Estates, merge parcels together into Estates, dissolve, and separate LAND parcels, transfer your parcels or Estates to other users, or allow someone else to build on your land by granting them permissions. The LAND manager is a digital asset management tool built into the platform to help you stay organized.
You can use the Decentraland CLI to obtain information about LAND, users, contact info, and scenes. This is an excellent way to determine who owns the LAND you wish to purchase and build on. In some cases, the owner may rent LAND to you.
Scenes are environments that you build on your LAND so your visitors can experience something unique. Since each parcel of LAND is tokenized, you must own the LAND to build scenes on it. Users can walk from scene to scene within the platform. You have many options for designing your scenes and then deploying them within Decentraland. You can monetize them however you wish. The platform includes many guides on designing and creating your scenes to maximize the user experience.
You can use an extensive library of free wearables to outfit your avatars. However, you can also create one-of-a-kind, valuable wearables to sell, trade, and use. Wearables are divided into categories.
How to Get Started Using Decentraland
Once you claim your parcel of LAND in Decentraland, you can begin building your 3D landscapes and applications and begin monetizing them. The platform offers two built-in tools to help developers get started.
Builder – Using an extensive library of digital assets, scenes, and wearables, you can begin building your 3D environment. Builder is an easy-to-use drag-and-drop program. However, you can also import your own 3D models into the space.
SDK – The SDK is developer code that makes writing scenes and creating 3D elements easier and more flexible.
Many companies build their scenes with Builder and then bring them into SDK to flesh out the interactivity and create smart items and wearables. You can also use tools like SketchUp, Blender, and Maya to create objects and import them into your world.
Monetizing LAND, wearables, and other digital assets is entirely up to you. You set the price and control the sale or transfer of objects.
You will need to get an Ethereum wallet to get started using Decentraland. The platform provides a helpful tutorial on how to do that in the “Docs” section of their website.
Build Your Own Virtual Destination in Decentraland
Regardless of whether you want to offer 3D games, interactive educational seminars, auctions, host social events, or business conferences in a decentralized world, Decentraland is a fantastic platform to get you there. Create an entirely unique virtual destination for your clients and customers with Decentraland. Be sure to secure your space now while there is still room.