NFT is the new craze in town. It stands for a non-fungible token—a digital item with no copy. Only you have this token, and it can increase in value. Decentraland is a virtual world—it is part of the metaverse where people come together to do things. So, is it worth investing money and time in it?
What Is Decentraland?
Decentraland is a virtual reality world. It is like the world, but it is digital. As such, there are places here to visit, and there are plots of land. In Decentraland, you can buy land and then build something on it.
You can build a place where people can gather, listen to music, and many more. To get started, you sign up for free. Then, you customize your Avatar.
Next, you explore the land. It is a 3D world where you can talk to people, make trades, and do many other things such as attend a party.
The plots of lands are limited, and they are for sale. There are also many things you can get here, such as accessories for your characters. Examples of these are:
- Clothes
- Shoes
- Shorts
- Hats
Many of these accessories have a limit in terms of how many of them exist in the game. As such, only a dew can wear them. Because of this limitation, they increase in value for as long as there is a demand for it.
What Is Decentraland Mana?
To make purchases in the game, you need a special kind of money. It is a digital token called MANA. You can buy MANA from cryptocurrency exchanges like Kraken.
Before you start playing Decenrtaland, you have to create a digital crypto wallet. The one that many people use is Meta Mask.
Once you have signed up for Meta Mask, you will connect your Meta Mask crypto wallet to your Decentraland account.
Now, once you have made a purchase of mana in a crypto exchange, you need to send that to your Meta Mask wallet. From here, you can start making purchases in the virtual world through its marketplace.
Think of mana as bitcoin. It is a digital currency whose value fluctuates. Right now, its price is about $3 per mana.
How Do You Make Money in Decentraland?
Of course, you want to play this because you want to make money. So, below are some ways by which you can do this.
Play Some Games
There are some mini-games in the virtual world that pays money. If you win, you can either win NFTs or other wearables. Then, you can sell these things for a profit.
Most of these games are gambling games. There are virtual casinos in Decentraland. So, you will bet MANA and then win MANA. Examples of these games are slot, poker, and blackjack. Some casinos offer roulette. The way they work is the same with real cash casinos like vulkan-vegas.pl.
Buy Land
The fastest and easiest way to make money on Decentraland is to buy digital real estate. These plots of land, of course, are expensive.
These and parcels are non-fungible tokens. The ownership of these digital lands is stored in a server, verified by the Ethereum blockchain. No one else can steal it from you, and the Decentraland universe will never add new lands.
As such, it will one day become scarce. There are only 90,000 parcels of land in the game, and one plot sold for $3.5 million recently.
Make Clothes
To make money on Decentraland, you can create clothes and wearables for the avatars. Then, you can sell them in the marketplace.
You need to understand how 3D modeling works. If not, you have the option to outsource the work to other designers.
Before you can sell, you need to invest 500 MANA for each piece you sell. What that means is that you need t pay about $1,500 for each item as a listing fee.
The game also allows you to mine. It takes some time to make your player mine meteorites in the game, but you will be rewarded with various materials.
Once you meet the specific number of materials to make a wearable, you can convert them and make that wearable and sell it on the marketplace. Again, you have to pay 500 mana to list the item.
Work as a Freelancer
There are some companies that offer jobs in Decentraland. For example, you can work for companies that need a 3D modeler or someone who needs wearables.
There are also companies that need coders and software engineers. Some need videos and artwork or marketing services.
To find work in Decentraland, you need to join their discord server. There is a channel there called #hiring—it is where you will see threads about jobs.
Summary
Is it worth investing in Decentraland? Yes, it is worth it if you have the time and money to invest. Like any investment, it has associated risks. If you buy land, there is really no guarantee that the value of the digital land in the Decentraland will increase.
The last way to make money is to buy MANA and then wait until its value goes up—just like cryptocurrencies. Of course, it is still risky, but it can be worth the gamble.