Network: Ethereum - Polygon
Platform: PC
Decentraland defines itself as a virtual reality platform (metaverse) powered by the Ethereum blockchain that enables users to create, experience, and monetize content and applications.
Decentraland is designed for content creators, businesses, and individuals seeking a new artistic medium, business opportunities, or source of entertainment.
The Decentraland gaming world - called the "Metaverse" - is divided into 90,601 individual LAND blocks, each of which is represented by a non-fungible ERC-721 token.
Each LAND measures exactly 16m x 16m (256 square meters) and is located at a specific coordinate within the Metaverse.
TOKEN MANA
Decentraland utilizes an internal token called MANA, along with NFT LAND and NFT Wearables.
MANA is an ERC-20 utility token that can be used to pay for avatars, wearable items, names, in-game assets, and more on the Decentraland marketplace.
LAND tokens are ERC-721 tokens (NFTs) that can be purchased and then explored, developed, and monetized.
NFT Wearables are special NFT "clothing" items that can be used to dress up avatars. These include hats, shoes, t-shirts, etc. (below in the image, you can see my account with NFT Wearables, all obtained for free. I'll explain how to do it later!)
WHO'S USING DECENTRALAND?
Often considered a "game for kids," Decentraland actually hosts a diverse range of users. Let's take a look at some of the players who have acquired LAND and created their own spaces in Decentraland. Let's start with some crypto players: Binance, Kraken, Maker DAO, Axie Infinity, OpenSea, Rarible, Polygon, and many other crypto projects.
In fact, the Crypto Valley (Consensus) has been recreated where real crypto events are broadcasted in the metaverse.
Now, let's see some major non-crypto players, such as Sotheby's, Samsung, Heineken, JP Morgan. Decentraland has even hosted Fashion Week, with participation from D&G, Hogan, Gucci, Tommy Hilfiger, Etro, and more.
Now that we understand there's significant potential in the metaverse and it's not just a game for "kids," let's delve into how to enter the metaverse, leverage its benefits, and monetize it!
HOW TO ENTER DECENTRALAND?
Decentraland is a decentralized blockchain-based project. To connect, you won't need to create an account but you'll need to connect with your wallet.
Use or create a Metamask wallet to connect to Decentraland.
Go to the website, decentraland.org.
Click on "start exploring" at the top right.
Choose whether to download the PC client (currently in Beta) or continue via browser (recommended), then click on "Explore on web."
5. Continue with the wallet by selecting the Ethereum network. If you connect without a wallet, you won't be able to obtain NFTs and cryptocurrency from Decentraland.
6. Create your avatar with the initial customizations available, then click on "done" when you're satisfied with your avatar. Set your name and email, and you're READY FOR DECENTRALAND!
Now that we've entered, all that's left is to understand how to earn in the METAVRSE!
Here's how you can monetize a LAND:
Buy and Sell: LAND purchased during pre-sale cost $500; they have reached a historical maximum floor of $13,000.
Organize Events: Use your LAND to organize events to increase visibility for your brand or company. You can also sell physical items by creating your virtual store linked to your marketplace.
Rent Out Your LAND: You can rent out your LAND to artists and brands to organize their events. Need assistance with renting? You can contact us in the Telegram chat.
Rent Advertising Space: If your LAND is in strategic positions in the metaverse, consider creating a billboard and renting out the right to promote their brand to third parties!
Here's how you can monetize on Decentraland even without owning LAND:
Events: Participate in numerous limited-time events where you can obtain both wearables and non-wearable NFTs for free. In the past months, our users have accumulated over 50 NFTs, including those from Samsung, Rai Cinema, and Heineken. Want to stay updated on Decentraland Events that release NFTs?! Join the Discord chat and head to the Events-Decentraland section!
Games and Activities: Decentraland hosts numerous games and ongoing activities, such as poker, golf, and various other games, which allow you to obtain tradable and monetizable NFT wearables.
Creating NFT Wearables: If you're skilled in 3D modeling, you can create avatar clothing and resell them in the marketplace.
Creating 3D Scenes: Many artists or brands looking to organize an event require 3D modelers to create their custom locations. If you're a 3D creator, reach out to us, and we can help connect you with artists and brands in need of creating their presence on Decentraland!