Decentraland, a metaverse-based platform, has enabled owners to rent virtual land. This happens as the Metaverse story grows in the public consciousness.
Decentraland was one of the first platforms to introduce the concept of allowing users to own parcels of virtual land. Universe allows you to develop and sell these parcels.
Currently, users of these platforms, or LAND owners, can rent out these virtual spaces as landlords. From his December of this year, land owners will be able to rent it out for a specified period, according to an official company statement.
A LAND owner is an account or wallet address that holds a smart contract for a digital property.may “parcels, real estate, or both” and, To give permission For owners of these properties to rent them out, the platform has opened up a way for LAND owners to earn passively.
Decentraland follows in the footsteps of popular metaverse projects like Sandbox by allowing users to rent LAND. Another platform where users can buy, sell and rent virtual spaces.
How Decentraland was born
As mentioned earlier, Decentraland is one of the first metaverse projects. It launched in 2017 after a $24 million ICO. However, the closed beta will begin two years after him in 2019 and will open to the public in February 2020.
Since then, users of the platform have been able to create a wide variety of experiences in their virtual LAND. Common uses include creating large 3D scenes, interactive games, and other interactive experiences.
These experiences are accessible through two native tokens. mana and rand. The former is an ERC-20 token that is burned to obtain a non-fungible ERC-721 LAND token. MANA will also function as a utility token on the platform. It can be used to pay for various avatars, wearables, names, etc. in the Decentraland Marketplace.
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