Metaverses are a fun and beneficial experience for all types of people. Investors, designers, and gamers alike can gain something out of them. However, getting into them to build in Decentraland, for example, might seem difficult at first.
Fortunately, learning how to get into Decentraland, one of the most profitable and accessible metaverses, is easier than it looks.
What Is Decentraland?
Decentraland is a metaverse where users can build structures, create assets or interact with each other or activities within the platform.
In essence, this metaverse is a game. Thus, designing fun activities and rewarding players for their participation with collectibles is the main focus of the project. Users can explore Decentraland’s digital streets and lands with their avatars and choose what to do in them.
There are several community-based activities one can participate in. For example, players can attend a virtual concert, take a look at an in-game NFT marketplace, play short, competitive games, or simply meet other people.
Nevertheless, there are other ways one can use Decentraland for. For instance, one can own a parcel, build on it and create a scene where people can hang around. This is a common way to make a profit on the platform, but it requires funding beforehand.
However, it’s worth mentioning some demands are in place. 3D model building Decentraland has quite the limitations a builder has to duly respect. On top of that, scenes must provide a fun experience for those who visit; otherwise, no one would even consider them.
How to Get Into Decentraland
The very first thing to do in Decentraland is to create an account. Fortunately, this doesn’t require arduous tasks– just a few minutes is enough.
Register an Account
As with any game and most metaverses, Decentraland requires you to register an account and make your own identity.
Registering can be done with or without a crypto wallet, which is a digital bank of sorts to save virtual assets. Although the game is playable without a wallet attached to your account, it’s very recommended to register one. Many features are locked away if not.
Since Decentraland runs on web browsers only, the wallet you chose must be an installable extension in your browser. The most recommended option is MetaMask since it works with the Ethereum blockchain, the network used in the platform.
With MetaMask online, you later have to use a crypto exchange platform that lets you buy assets such as Binance or CoinBase. MetaMask doesn’t let users buy currencies, so Decentraland players have to import their assets to their accounts through these exchange apps.
Finally, buying MANA or ETH is what ultimately lets you experience Decentraland in its completion. Do note that whatever you do in the metaverse will have repercussions on the wallet you chose.
Create an Avatar
Your avatar is the main bridge between you and the platform. It’s the representation of your persona within the platform.
The process is very similar to other simulator-ish games such as The Sims and Animal Crossing. You select some physical attributes, like skin color, clothes, and some accessories. When your avatar is done, you’ll be sent to Genesis Plaza, the spawn location by default.
After that, you’re off to explore the world of Decentraland. The game is pretty straightforward with the movement commands. You move with the W (forward), A (left), S (backward), D (right), and Space (jump) keys. Pressing the C key will bring about a reminder of the commands.
These basic commands remain the same, so you’ll get pretty used to them even if you’re not familiar with the gaming scene. Nonetheless, you can change them to your liking with the settings menu.
What Can I Do in Decentraland?
There are two paths you can take in Decentraland: you either play games or design assets.
Despite how unusual it may sound at first, metaverses do feature play-to-earn games. This means one can earn real money just by playing. Each digital world differs in how much. For example, in Axie Infinity, the only way to make a return is to play and master the game’s many mechanics.
In Decentraland, you can partake in several mini-games that give rewards. Naturally, to enter such activities you’ll have to pay a small fee to have the chance of winning a bigger prize. These are usually lax games with a competitive tint to them.
Collectibles and LANDS are the two components that make Decentraland’s market go around.
Collectibles are the classic non-fungible tokens. NFTs are a staple of the crypto world. As such, they couldn’t be left out in the most remarkable cyberspace of the metaverse scene. They work as cryptocurrencies that can be interacted with in-game.
NFTs in Decentralands can be almost anything: from wearables to even weapons. All of them are unique and, consequently, hold differing monetary values. Each non-fungible token is irreplaceable, so collecting them is both a form of investing and building a legacy collection.
As for LANDS, these are what parcels are called in Decentraland. Fundamentally, LANDS are NFTs. The main difference with regular non-fungible tokens is that owners can build structures in them. These are known as scenes.
Designers can give specific functions to the scenes. To give an example, LAND owners can assign NPCs for people to interact with a particular role. Additionally, a scene can hold several types of events. These create engagement and net you MANA when people pay a fee to participate in them.
Investing in Decentraland
Provided you have the economic backup for it, financing a project in Decentraland is easy and quick. What’s more, even big companies are investing in Decentraland and other similar platforms.
Creating 3D NFT art is a complex process. There are many steps that only a professional artist can do. Years of experience working on software like Blende or Unity are a must, to begin with. Regardless of the collectibles’ sizes, each project has a sustainable amount of work behind it.
Thanks to the 3D engine Decentralands runs in, all collectibles must account for 3D animations and proper modeling. A product won’t sell if they look second-class or faulty. Color use and precise 3D motions are but just the tip of the iceberg in the designing process.
What’s more, non-fungible tokens can’t be just about anything. Although the possibilities are endless, it’s worth pointing out that users do want to build their own collection according to their likes and dislikes. Then, the designers have to identify what Decentraland users prefer.
Since the designing process of modeling NFT collections is rather strenuous, most metaverse entrepreneurs prefer to outsource it. As a result, the products’ quality is ensured without risking losses due to a flaky design.
Just like NFTs, LANDs have a particular value attached to them. However, their worth is derived from certain factors not relevant to typical non-fungible tokens.
The price of properties is bound to near locations of interest. Seeing as parcels in the metaverse are designed to mirror real estate, the same applies to LANDs. The spot a LAND is in heavily influences its final value of it.
The nearer a parcel is to a busy area in Decentraland, the heftier the price of the LAND will be. Generally, more lively locations attract more users and, as a by-product, more players pay the entrance fee to your scene.
Alternatively, you can obtain a more accessible LAND in secluded areas of Decentraland. This makes building a scene from scratch vastly approachable. Needless to say, the returns will be slower.
Now that getting LANDs is out of the way, it’s time to examine how they are used as long-term investments.
You can either build on a LAND or sell it. The latter is fairly simple and doesn’t require much thinking, but hinges on the market’s flow, which is a bit of a gamble. The former allows for greater success at a lengthier pace.
Building a scene and developing engaging events is a great strategy to make a consistent income. Games and events are the essence of Decentraland’s gameplay– thus, the developers greatly encourage builders to design on the platform.
Still, structuring a fun complex for users to enjoy takes quite the building prowess. Most LAND holders prefer to hire expert 3D NFT modelers rather than venturing into the unknown. Mediocre scenes tend to fall off in popularity rather easily when the initial puff for them is already gone.
Decentraland is a golden mine for anyone out there who wants to invest in the future. The platform provides a great opportunity to build a business without the need to grasp complicated concepts of real estate.