{"id":160,"date":"2022-07-29T02:57:13","date_gmt":"2022-07-29T02:57:13","guid":{"rendered":"https:\/\/article.nftgo.io\/?p=160"},"modified":"2023-08-24T05:09:48","modified_gmt":"2023-08-24T05:09:48","slug":"how-to-make-profits-in-the-metaverse-part-1-decentraland-en","status":"publish","type":"post","link":"https:\/\/goalert.nftgo.io\/research\/101\/how-to-make-profits-in-the-metaverse-part-1-decentraland-en\/","title":{"rendered":"How to Make Profits in the Metaverse Part 1\u00a0Decentraland"},"content":{"rendered":"\n

Most of us think that NFTs are the empowerment of people coming together to create a strong community. As we see in history, we have never had a social organization across the borders, touching many countries as today. Non Fungible Tokens are a combination of identity and social organization with no politics, racial parameters, or rules established by someone else (a.k.a. Governments\/politicians), and even inclusivity. No one will judge by the way you interact or even how you dress your avatar.<\/p>\n\n\n\n

Every NFT holder can interpret their own meaning of the community they belong to, and the group has broadly coordinated goals, and that is how the roadmap is completed.<\/p>\n\n\n\n

NFTs are a class of real-life solutions like ETH and Bitcoin, but a little bit looser and more abstract than the two mentioned earlier.<\/p>\n\n\n\n

So, what with the metaverse? The metaverse brings a landscape for NFT holders and a platform to interact with the community virtually but in real-time. This is where the virtual lands come to play.<\/p>\n\n\n\n

People are passionate about property rights\u2026The famous saying \u201cYOU HAVE TO INVEST ON REAL ESTATE\u201d (not financial advice) comes from this idea. The feeling of ownership fits well with most people.<\/p>\n\n\n\n

The goal of an NFT project is to ensure you have property rights in a digital asset, the same applies to digital real estate. You are not a serf on someone else\u2019s property in the nonphysical world.<\/p>\n\n\n\n

As we see the Metaverse landscaping keep growing, it might be a little bit confusing for people. We see centralized companies like Meta (previously Facebook) and Roblox pursuing this industry and some VCs.<\/p>\n\n\n\n

In this series, we will introduce multiple leading decentralized platforms and how users can take profit from them. As part 1, let’s start with Decentraland!<\/p>\n\n\n\n

Decentraland<\/h3>\n\n\n\n

Decentraland is a decentralized virtual reality platform based on the ERC-20 network. The perfect analogy would be that Decentraland is the \u201cSims\u201d of NFTs.<\/p>\n\n\n\n

The platform is regulated by a DAO, so through the communication > proposals of the community > voting, the roadmap is scheduled and accomplished. Trello\u2019s website<\/a> offers a dynamic roadmap based on the DAO\u2019s votation and proposals, and it is worth taking a look.<\/p>\n\n\n

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\"Decentraland
Decentraland Avatars. Source: Decentraland <\/sub><\/figcaption><\/figure><\/div>\n\n\n

Token<\/h3>\n\n\n\n

$MANA is the platform\u2019s token. This coin has some good utilities like: voting on the DAO proposals, buying digital items for your avatar, and buying land plots. You can also stake $MANA on Binance<\/a>, Gemini<\/a>, and Crypto.com<\/a>.<\/p>\n\n\n\n

Good things about Decentraland is that they are very transparent with their balance sheets and information is very clear on the website<\/a>.<\/p>\n\n\n\n

You can acquire $MANA through a CEX (Centralized Exchange) like Binance, FTX, Coinbase, among others. The other way around is with a DEX (Decentralized Exchange) of ERC – 20 tokens, like UniSwap or SushiSwap.<\/p>\n\n\n\n

How to make money on Decentraland<\/h3>\n\n\n\n

Lands<\/strong><\/p>\n\n\n\n

Lands are a highly valuable digital item among the metaverse. Lately, land is also known as Virtual Real Estate. Decentraland currently has 90,601 plots of land of 16 x 16 meters [52 ft x 52 ft] size.<\/p>\n\n\n\n

By buying 2+ lands you can create an Estate, so you can start creating a bigger and bigger environment.<\/p>\n\n\n\n

When you own a land or an Estate, you can start leasing them. Some users create ads in their own land to give themselves exposure to potential lessors. After first contact and getting a deal, the tenant starts to create the environment for the landlord with the specs required by them for the event to take place. There are some websites that offer smart contracts to rent your properties:<\/p>\n\n\n\n