Decentraland is an open-world decentralized platform that was launched in 2017.
And compared to other centralized games out there, owned by a single entity that holds the power with everything inside the game; you can spend hundreds or thousands of hours playing, customizing, and perfecting your craft, but at the end of the day, you don’t have full control over it.
The company that truly owns the game can go bankrupt or ban you for whatever possible reason, and all your progress and hard work that you’ve spent will be lost, and you can’t do anything about it.
If you’re a gamer, you probably had the same experience of this happening at least once. But with Decentraland, that will never happen because the ownership of the game is distributed to the players, the whole community that supports it.
This is much like Sandbox, which is another version of a metaverse, but of course, both have their own pros and cons. Anyway…
How is Decentraland a “Metaverse”?
Decentraland is an alternate Metaverse that also runs on the Ethereum blockchain. It is a platform that players can build upon, own lands, buy and create virtual assets.
Players will be able to create their own in-game experience and explore other players’ creations as well.
It also has its own economy where businesses and players can thrive. It is not controlled by one giant company, which gives more freedom to everyone inside the game.
In fact, it is governed by the community. If you are new to the concept, this is called a DAO (Decentralized Autonomous Organization).
The community decides the policies when it comes to LAND ownership, content, what is allowed or not, and other in-world behavior. Anything is possible inside a Metaverse.
What is the MANA Coin?
MANA is an ERC20 cryptocurrency token, which is also Decentraland’s in-game currency, used to purchase land parcels, wearables, and other virtual assets inside the game.
It can also be used to purchase the right to vote for future decisions and expansion in Decentraland, and since it is also a cryptocurrency asset, it can be traded with other coins like Bitcoin and Ethereum.
You can also purchase it with real money like you would with other cryptocurrencies, costing around $4 per one MANA coin as of writing this. But refer to the chart above for the real-time price.
What is LAND?
Decentraland virtual world is divided into parcels called LAND, and each is represented as a non-fungible token (NFT).
There are a total of 90,601 LAND parcels that players can own and build on. It also includes exact coordinates on Decentraland and the description of the content that the owner provides on their land.
How Can Players Earn Money on Decentraland?
Eager to play and earn money? Well, lucky for you, there are many ways to make a profit from this game.
Here are some of the options that you can do inside Decentraland.
1. Create and Monetize Your Game
If you have a knack for game design and development, this might be the best option for you. First, you would need to own a LAND to start building whatever game you have in mind, be it a casino, or as simple as a pay-to-play game.
2. Part-Time Job
Due to its wide variety of audiences, a lot of companies and businesses built their own games inside Decentraland. Many of them are hiring part-timers to help manage and facilitate their operating businesses and games within this Metaverse. You can also work as a freelancer by offering your skills and services.
3. Hosting Events
Owning a LAND parcel and making it a venue for special events like virtual parties and concerts can be a profitable business for you.
4. Play to Earn
Decentraland has several games for players to make money. This option would be a bit time-consuming because you’ll need to do tasks to earn points that can then be exchanged for wearables and other NFTs that you can sell on the marketplace.
5. Creating NFTs
This one should be obvious. In Decentraland, you can mine ores and minerals that can then be used to create an NFT that you can sell.
Its ever-growing community looks promising. Thus, the opportunities are abundant, and there are many other possible ways for you to earn in this Metaverse.
