Evolving from its 2D beginnings where it sold users pixels, Decentraland’s NFT has evolved into a force to be reckoned with.
It started out as a simple idea – a two-dimensional grid where users could purchase pixels. But as blockchain became more consolidated and NFT’s more valuable, Decentraland into a digital real estate hotpot that now has colossal players in the Non-Fungible Token Universe – the Metaverse Group – interested in its offerings.
So, what is Decentraland? Is it just another player in this digital frontier of NFTs, or is it a penultimate game-changer that will soon have a virtual world covering the entire planet?
Why does Decentraland NFTs have the biggest companies on the digital frontier eating out of their hands?
The heart of Decentraland lies in its metaverse roots because of what it is. It is a Metaverse created at the zenith of the Ethereum blockchain.
Moreover, MANA, its cryptocurrency token, has taken many successful strides. It is all because of the rise of interactive digital platforms and digital currencies.
During 2021’s trading rush, its value grew by a whopping 6000%, a phenomenon that many investors are claiming is just getting started.
It was not a vain statement, as just recently, Metaverse Group, an NFT-based metaverse real estate company, invested a whopping USD 2.43 million to purchase a plot of digital land from Decentraland. It is a figure that now stands as the largest metaverse land acquisition to date.
And, you can also buy NFTs and become a real estate holder in that metaverse.
But why has this interest emerged? Has Decentraland unlocked an aspect of NFT that most ignored?
The answer is as simple as nostalgia.
To those of you who have been in the internet sphere before, the words “Second Life” are familiar ones. A digital world created for the sole purpose of digitally connecting individuals from all over the world – it had everyone from Nas to Jayz interested in its offerings.
And now, we have Decentraland, a metaverse phenomenon that has blurred the line between virtual and physical by integrating NFTs within its polygons.
People can not only attend meetings in this digital wonder, they now have the ability to invest real money and purchase assets, set up trees and more. However, that’s not the extent of the reasons why many are rallying behind Decentraland.
It is a metaverse game.
The gaming factor is the catalyst behind the growth of Decentraland. Being a metaverse game, it has access to something that investors always look for – aggressive exposure. Combine that with the feverish interest people now have with blockchain, you get Decentraland with a retention factor that makes profit generation almost automated.
It enforces a free market and transparent economy.
When you look at it from a fundamental POV, Dentraland is a game. An MMO with a space for users to interact with each other. An intricate and fascinating concept, does it show the worth of MANA – its token? No.
However, when you widen your perspective, you can see the value of owning this NFT. And when you have behemoths like the Metaverse Group jumping into this virtual land, it only validates its worth.
In turn, others feel the motivation to become investors who, in the eyes of the Dencentraland, are also the owners of its digital districts. Artists from around the globe are selling tokens in this digital space. And not only that, this multiplayer game is giving artists real utility in exchange for real money, a factor that one can only appreciate.
It is attracting large institutional investors.
At the beginning of this year, Grayscale Investment LLC launched Decentraland Trust, a move that acted as a catalyst for other large-scale corporations to take notice of this new child of blockchain.
However, this move is more significant than we realize. It has essentially turned Decentraland mainstream. Consequently, this metaverse has evolved into a large-cap cryptocurrency.
And it is not just the investors.
Recently, the country of Barbados signed an agreement with Decentraland to consolidate the world’s first virtual embassy.
How can you buy a Decentraland NFT?
Are you interested in buying the Decentral NFT? There is a way.
The process of buying a Decentraland NFT is not a simple one. However, we have been able to procure for you some less-than-complex steps that you can follow:
- To get MANA, you can use several present Crypto trading platforms. However, you must always use the best NFT marketplace to get started.
- Once there, you have to create a new account by entering your credentials, setting up the password and accepting the terms.
- Secure your account to protect your monetary assets. The website will direct you to add two-factor authentication.
- Enter funds to the platform
- Go to the market menu and look for either the BTC/MANA pair or the MANA/USD pair. The funds you have will decide which one you choose.
- Buy the MANA and finish the transaction per your method.
Once you buy MANA, you can move over to the official Decentraland site, play the game and buy some LAND while you’re at it.
Rules and regulations that govern Decentraland NFT?
Decentraland NFT is free to buy, but that doesn’t mean you won’t need to follow the rules and regulations to maintain the sanctity of the website.
The website allows 13-year old individuals to purchase and sell NFTs. However, there are requirements that kids must have the guardian consent to pursue Decentral NFT transactions and more. As it is a community-run world, all the ownership and management of LAND take the community’s decisions into account.
You can get a complete look at the terms of Decentraland here: https://decentraland.org/terms/.
Decentraland now stands at the precipice as being the world’s most exclusive digital frontiers for buying and selling NFTs, and it’s all due to its inclination toward the free economy and community standards.
However, it has only taken great strides this year. Therefore, we shall see how much growth this platform sees.
But, judging by the pace at which it is growing, we can expect no less than glaring news in the future.