It’s the most complete Metaverse at the moment, and there are five opportunities to earn it
With this article, I want to go specifically into the Metaverse and talk about one virtual world in particular. That I am certain you have already heard about: it is Decentraland.
In this specific virtual reality, you can do many interesting things that many do not know about.
The Metaverse in general is a very new sector, distant from many of the previous generations who are curious to know what it is and how to try to make money.
Fortunately, more and more people have heard of the Metaverse, the virtual reality in which one is represented in three dimensions through one’s Avatar.
Thankfully, this is a booming industry and more and more people are starting to spend time and money there.
Let’s see how to invest our money and how to do business in these parallel realities that are so new and intangible.
You can see it right in this interesting …
Decentraland is a virtual reality platform powered by the Ethereum blockchain. Users can create, experiment, and monetize content and applications.
The decentralized platform is based on the Ethereum blockchain and makes use of smart contracts to manage its market.
What does Ethereum blockchain mean?
It means that this contract allows for full ownership of virtual assets and land within Decentraland. As if a notary had signed it.
This means that you can buy land on Decentraland and be sure no one can take it away from you. This is an absolute novelty.
Decentraland’s native cryptocurrency is MANA, which is used for the purchase of LAND, the plots of land. The owners of these virtual lands are called LAND.
LAND is actually a non-fungible token (NFT) ERC-721 minted on the Ethereum blockchain. Non-fungible means that it is not replicable and it is unique.
Each 10m x 10m square plot of LAND is an indivisible and permanent asset stored in a smart contract.
What does it mean? That every piece of land purchased is permanent and can’t be altered. So we will have our land forever within the Metaverse. The value of each LAND is determined by market demand.
In addition to buying and holding LAND, users can also develop their own applications and experiences (known as “dapps”) on their lots. This dapp can be visited by other users, who will have to pay in MANA to enter.
So the landowners are actually service providers. They offer a unique experience that others can consume and pay for with their native currency.
A bit like a physical store. But in these dapps you have an experience as if you were entering a museum or a playground.
The Decentraland team works constantly to improve the user experience.
The goal is to make it as easy as possible for anyone to create and monetize their content and applications in Decentraland.
One of the coolest things about Decentraland is that it’s not just a virtual world, but a virtual economy as well. In addition to buying and selling land, users – as I explained above – can also buy and sell goods and services within Decentraland.
The Decentraland team plans to launch a marketplace where users can buy and sell goods and services.
The market will be powered by the same smart contracts that power the property system.
Goods and services will obviously be exchanged (bought and sold) using Decentraland’s native currency, MANA.
The Decentraland team is also working on a way for users to convert their fiat currency into MANA. In this way, anyone in the world will be able to use the Decentraland market.
The goal is to create a virtual world accessible to anyone in the world, regardless of their economic status.
So what are the earning opportunities in Decentraland?
BECOMING A LANDOWNER
The most obvious income opportunity for landowners is to buy and then sell their land.
Landowners can also generate income by developing their land and selling goods and services to other users.
To develop means to build on buildings or other attractions or even parts of shared services.
Decentraland is still in its infancy, so land and property prices are relatively low. But as the platform grows, prices are expected to rise.
Another way to generate income in Decentraland is to simply hold the platform’s native currency, MANA.
MANA is an ERC-20 token, which means it can be bought and sold on cryptocurrency exchanges.
The price of MANA is expected to rise as the platform grows and as more people use it.
So, if you are looking for a way to generate income from the Metaverse, Decentraland is definitely a project to keep an eye on.
CREATING PROFITABLE VIDEO GAMES (IF YOU ARE A PROGRAMMER
If you are a programmer, you can create video games and sell them to other users.
The Decentraland team is working on a way for developers to monetize their content.
One possibility is that developers can charge users a fee to access their games.
I understand that this opportunity is very niche and therefore may not concern you.
Another possibility is to create a market for non-fungible tokens (NFT).
NFTs are unique and non-replicable digital assets.
Examples of NFTs are digital art, collectibles, and game items.
The Decentraland team is working on a way to allow users to create their own NFT markets.
You will then be able to sell the products you created on the Decentraland Metaverse to other avatar users who frequent this world.
As if it were a shop, however, you do not sell physical products and goods but only digital ones. A commodity that will have more and more market considering there will be more and more patrons of the Metaverse and therefore a round of money.
By the way, here’s a last resort:
WEARABLE GOODS FOR AVATARS
You can also create and sell virtual clothing and other avatar accessories.
The Decentraland team is working on a way to allow users to also create and sell their own avatar clothing.
This is another great opportunity for artists and stylists to generate income from the Metaverse.
These are some of the ways you can generate income from the Decentraland platform.
As you can see, there are many opportunities for creators, developers, and entrepreneurs (and future entrepreneurs) to generate income from the Metaverse.
As the platform grows, more and more opportunities will become available.
So, if you are looking for a way to generate income from the Metaverse, Decentraland is definitely a project for you.
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