How to make money on Decentraland, the largest virtual reality platform? step by step guide

Visionary minds are exploring other areas where they can invest their assets, these projects go beyond our physical world. The reason is that digital assets are becoming stronger every day in the global financial environment and are one of the newest ways to make money online.

And that is exactly what it is getting people excited with Decentralandas time goes by, it adds followers who want to live the experience of interacting in a place to monetize with 3D lands.

If you are a new investor, You can’t miss this guide so you can start producingmonetarily speaking, in a virtual community that is giving something to talk about among entrepreneurs and gamers passionate about an alternative ecosystem to real life.

What is Decentraland?

It is a 3D virtual world available since 2020, was created by Esteban Ordano. In this city has been offered at auction more than 28 million dollars for a parcel, a figure never before reached by a property that does not exist. The platform is made up of 90,601 pieces of land measuring 16 x 16 square meters, whose contracts are backed by blockchain technology. in this universe is traded with MANA (its cryptocurrency) to become an owner or tenant of a Non-Fungible Token (NFT).

From Decentraland you can do business in the same way as in the real world, the cost of a virtual good (Land) is very similar if you bought it in New York. There are users who have bought a property paying 180 thousand dollars, as you can understand, real money moves here. the owners they can do what they want inside their propertyfrom opening an art room, playing games, to creating content to monetize.

You just put on your virtual reality glasses to hear and see other Internet users in real time. This experience is powered by the Ethereum blockchain, and anyone can access this platform regardless of web browser. In summary, is a 3D social platform which serves to negotiate in various ways, build or build and entertain you. It is a cryptocurrency-focused business model that draws attention especially from video game fans to virtual reality.

What is a metaverse?

It is a virtual reality parallel to the one we know, where humanity is related through a character that represents it. The word “Metaverse” (afterlife and universe) was first used by Neal Stepheson, in his science fiction novel SnowCrash (1992) to name the virtual stage, where the protagonist develops to fight the enemy in the real world through his avatar.

In simpler words, we can communicate or live with a community using technology that recreates us in another three-dimensional universe, and that makes us feel as if we are truly transported to a new world. You will have already heard about this term due to the announcement of Facebook together with Microsoft, Google or Nvidia to go towards this multiple online space, we are already talking about web evolution.

But the developers of the most famous NFT games have also taken it upon themselves to prepare us for this metaverse and train us towards a digital economy. The amazing way of life that we saw in fiction films and series is becoming closer to us, because Soon it will be common for each person to manage all aspects of their life from an online character.

For now, we’ll just stick with the foundations of the metaverse as an idea, because its just starting its prototype, so the closest thing we have is Decentraland, SeconLive or the games Roblox, Axie Infinity and Fortnite. It is what technological advances allow us to date and that are also related to the blockchain system.

Decentraland economy Is it sustainable?

Currently, Internet users are using applications and online games as a source of extra incomewhat has worked for them, even some have obtained good rewards, but What do we market with at Decentraland?

Let’s see below:

tokens

MANA belongs to the ERC-20 token, which means that it links virtual reality and blockchain, and at least 1.82 billion tokens are in circulation, exceeding BTC by 100 times. The same is used to buy plots of land or virtual properties.

Investors have experienced ups and downs: in January 2021 a MANA cost €0.08 per token, in November it had a peak of more than €5 and in January 2022 it had already dropped to €3. As you will see, it is a risk that regularly happens with volatile altcoins, even so, it is considered an attractive value for investors.

Land

NFTs are constituted for parcels or land (also called Land) and is a real estate business idea that is considered profitable. The formula remains the same as in real life, you acquire at a considerable price and make the modifications in construction to revalue later. There are many people who are encouraged to buy and sell their properties in Decentraland in the future. There are neighborhoods that can cost 8,888 MANA and in more exclusive places it reaches millions.

Risks of investing in Decentraland

As long as cryptogeeks exist, there is little chance of stopping the popularity of Decentraland, however, Joining this type of investment is still indicated for users who like to take risks. An excellent news that inspires us with a good forecast is that MANA ranks among the 40 strongest cryptocurrencies. In fact, an interesting fact that you should know when you go into the purchase of MANA, is that it has achieved a market capitalization of $4.5 billion in a short time.

There is so much enthusiasm for this virtual project that flashy stages and events (such as Festival Land) are being created to attract more people’s interest in investing. Many entrepreneurs consider Decentreland a good alternative to dedicate himself to reselling, since there are already owners who have earned 10 thousand dollars for selling their lands and that originally cost less than 1,000 €.

However, the Analysts indicate that until this project is truly stabilized, The best way to invest in less risk and with higher profit probabilities is to operate through MANA cryptocurrency contracts for difference. In order not to miss out on Decentraland news, we recommend you always review eTorowhere MANA CFDs are traded.

Learn how to make money with Decentraland

Surely you are worried because You want more details about what or which projects you can take advantage of economically from this platformbut before you start, update your browser (Firefox or Chrome) on your computer and make sure you have a good internet connection, as well as to open an account in Meta Mask.

Here are some ways to monetize:

Buildings (land)

We have already commented that the first option in Decentreland is to acquire MANA to buy a plot, the cheapest was around 5 thousand MANA (about 14 thousand €). Clearly the business is to resell them at a higher cost, for example, in 2019 you could get land for €500, which later increased to €7,800, and as you will see it is profitable to invest. The more popular the platform becomes, the more people will want to join.

Also you can build buildings if you preferto later rent your property to other users who want to invest in a business and need a place.

Create and sell items

The NFTs of this Metaverse you can also exchange them in Open Sea. Here there are no limits to get clients, you can design clothes and sell them or any accessories you can think of that other players need or draw their attention. This alternative is ideal for people who master 3D design programs. Another detail is that you must have 500 MANA to invest for each item you want to offer.

develop minigames

Not only can you sell Wearables, you also have access to create mini-games to get wearables and NFTs. It is a good option to generate income in your spare time. Take advantage of your creativity, this is where you can innovate. Choose a theme and create from a showroom, zoo, museum or other with the intention of charging admission so that others can walk through it and admire your proposal.

Work for decentralized games

In the available Decentraland casinos there are classic games (poker, blackjack and roulette, among others), with them you can earn not only MANA but portable equipment and NFT. And if that was not enough, By working as a virtual host of a casino you would earn 200 euros per month and even more when you get promoted. It is not bad at all to receive this payment for interacting with other users and taking charge of events or games.

Buy and sell MANA

To make money with Decentraland, invest by buying MANA (native token) or trade MANA CFDs, depending on the market behavior. If you are ambitious you can choose an online broker like: IQ Option, AvaTrade, eToro, Coinbase, BDSwiss, Voyager today or Crypto.com. It should be noted that it is currently one of the 50 most powerful cryptos. Don’t forget to choose a hardware or software wallet to store your MANA tokens.

As a writer

In the same way, you can offer your professional services (writer, author, editor, among others) or skills to a company that is operating in Decentreland and receive a salary for hiring other users or players. So go ahead and take advantage of the freelance job opportunities that may arise in this Metaverse.

Other NFT projects you should know about

There are more platforms similar to Decentraland linked to the Metaverse where transactions are made to get tokens.

Now we tell you about some of them to profit:

OasisProtocol.org

Innova is one of the first blockchains to prevent recognition of transactions made on their networkalso accesses the tokenization of user data. ROSE is your token and is intended as the blockchain with which you can have many profits this year. So much so that it became known that Meta (Facebook) is closely related to this platform for its metaverse vision.

sandbox.game

This world belongs to Play to Earn (P2E) games and is the main competence of Decentraland, is also backed by blockchain technology. Its appeal is concentrated in the monetization of assets (Land). It is free and allows players to create props and other games. Its cryptocurrency is called SAND.

NBATopShot.com

It is the Dapper Labs NFT project with the most users in this universe, according to The Block’s Data Dashboard. Famous NBA moments are traded from this platformare sports collectibles of great interest to basketball fanatic netizens. NFTs can be video clips, images or gifs and have managed to be valued at millions of dollars.

AxieInfinity.com

An NFT game created by Sky Mavis and available to the public since 2018. This project has achieved great popularity so far, the numbers tell us that there are more than 2 million players earning and investing with these pets or creatures called Axies.

Here earn Ethereum tokens for battles, by training and/or by reproduction. You can choose to play solo or player versus player (PVP) play. Its success is also due to the dynamics of the gameand the platform is expected to add more features as users grow.

Cryptopunks

It belongs to the row of nascent NFTs created on Ethereum, High value and demand. There are players who have made millions of dollars by selling their CryptoPunk NFT, the more rare the cost increases, in fact more than 10 thousand different types can be counted (collectibles in Ethereum).

This Larva Labs project started in 2017 and you could get the characters for free, already for the following year the price was from 50 to 100 dollars. In 2021 they rose to be the most expensive at 4,200 Ethereum. It currently competes with Bored Apes for the position of the most valuable NFT collection. Access your website https://www.larvalabs.com/cryptopunks.