Traverse the metaverse: Explore Decentraland with a virtual character

Buy your own digital land, design it to your heart’s content and become a part of this new reality that is all the rage now. How about going for a walk on Decentraland?

Continue reading if you don’t want your grandkids to moan and remonstrate about your lack of vision in not ‘buying that promising piece of land’. Beyond merely showing what is what, this article will help you to experience metaverse in all its colors, a new reality that is going down a storm across the globe.

But, first things first…

Let’s first get you acquainted with the concept of decentralization, which Decentraland gets its name from. Technology solutions basically sit on three pillars: centralized ones, distributed ones, and decentralized ones. While centralized structures depend on a single center, distributed ones have multiple centers where data is stored. Decentralized structures, on the other hand, conflate the concepts of central and peripheral, which means resources are owned and shared by all members of the network.

Distributing data sets equally between all stakeholders, Blockchain is an apt example of decentralized structures. Thanks to blockchain technology that underpins the functioning of crypto-currencies, a secure and decentralized transaction network is possible without trusted third parties.

Starting as a university network to become one of the largest platforms in the world, Facebook now has 2.89 billion monthly active users, according to data from Statista. Remember the global outage that lasted at least six hours and brought Facebook to its knees ( even the turnstiles at its headquarters stopped working)? Looking more like a giant corporation than ever with its acquisitions of Instagram and WhatsApp, Facebook has recently renamed itself Meta as a sign of its interest in the metaverse. While centralized structures are more vulnerable to security breaches and glitches, decentralized organizations are becoming more fail-proof as they expand, which creates a more democratic atmosphere for the internet, finance as well as data. The white paper of Decentraland, which is essentially a decentralized and virtual universe based on the blockchain technology Ethereum, sets out in clear terms that it seeks to build a network that allows content creators to get their fair share for the contributions they make.

Our little journey to the world of blockchain technology ends here; you can check out ‘The Importance of Blockchain Technology in Digital Marketing’ if you wish to learn more. We saved the best for last.

What is Decentraland?

Being a decentralized virtual reality platform powered by the Ethereum blockchain, Decentraland promises users a shared virtual universe in which they can create, experience, and monetize their contents and applications. Decentraland, which is one of the shared virtual worlds or Metaverse, allows users to purchase virtual lands, design those lands as they wish, and interact with other users.

How to get started on Decentraland

To log in and explore Decentraland as a guest, simply visit this address and click on Play as Guest. After the loading screen, you will be referred to a page to choose your avatar. Offering many personalization options from skin color to facial details, hairstyle to clothing and accessories, avatars are virtual characters that can be customized by users with thousands of different combinations, which helps them to express themselves in the world of Decentraland. Once you have chosen your avatar, you can immerse yourself in this world. You can get out and about with your three-dimensional character and see NFT galleries scattered at different locations across the platform.

If you wish to have unlimited access to Decentraland, you need to pair your digital wallet with Decentraland. Because names, products and lands are kept in digital wallets. And by doing so, you can benefit from daily rewards, participate in events, and log in from different devices using the same avatar.

Speaking of wallets, we must touch briefly on some important points. Every LAND in Decentraland is a non-fungible token. Each piece has coordinates, embodying the content created by the user who owns it. Decentraland’s virtual currency MANA, on the other hand, refers to a crypto-currency on the ERC20 (Ethereum) blockchain. It is used to pay for goods and services in Decentraland. The purchase and transfer of land parcels, other products, and names take place in the marketplace, where you can also learn about who owns which land parcel and what names are already taken.

Now, let’s look at what we mean by “unlimited access”.

What can you do on Decentraland?

Welcome to a non-tradable, finite and three-dimensional virtual universe protected by Ethereum smart contracts.

See your creations come to life as you build inside Decentraland:?As we mentioned earlier, Decentraland is divided into parcels that can be purchased. Congratulations if you have purchased your own land! You literally have a blank canvas now, which you can build as you like using Marketplace products or with 3D models of your own design.

Socialize:?Decentraland is a virtual universe that has hundreds of users like you. After taking the initial steps towards carving out a space for yourself in this virtual realm, you can now interact with other users in your surroundings or join virtual events.

Go to the concerts and parties:?If you can no longer do with the live stream concerts we were so used to having during the pandemic, you can enjoy metaverse festivals in Decentraland. Regular live music events and parties are held at Decentraland, which in recent months has seen a virtual music festival featuring more than 80 musicians, including Paris Hilton.

Visit art galleries:?Decentraland houses numerous NFT art galleries and shows. There are also auctions held by virtual galleries like SuperRare Museum of Art.

Discover events:?Check out the calendar to keep track of all the events in your virtual community, from a virtual version of one of the biggest tennis tournaments in the world to new gallery openings, from social responsibility events to round-table meetings to discuss the matters concerning crypto and metaverse.

Can you make money on Decentraland?

What distinguishes Decentraland from other virtual universes is that it offers investment opportunities that allow users to make big profits. You can consider buying land parcels in the digital world’s own currency if you are in it for the long haul. A Business Insider report dated Jan. 7, 2022, reveals that the smallest piece of land now costs $11,000.

Another way to make money on the platform would be by designing fully customizable clothing items for avatars, and putting them on sale at the Marketplace if you are capable of 3D modeling. Containing play-to-earn crypto games, the platform allows users to do some serious freelancing work, such as three-dimensional modeling, designing clothing items, coding, art and marketing. Owning the platform’s own digital currency MANA can also be a good investment, traded just like any other asset.

You should bear in mind that the investment opportunities offered by Decentraland, a virtual universe inspired by the real world and promising more, can help you make real money while losing is also on the cards as in any investment instrument.

What does it mean for brands?

Meta’s CEO, Mark Zuckerberg, defines metaverse as “Incarnated internet.” Described as a decentralized version of the Internet and based on blockchain technology, Web3 now appears on job postings. The platform offers a digital replica of real-world experiences, from entertainment to working, from social events to shopping. Something which did not take long for brands to notice.

Late last year, Nike announced that it had acquired RTFKT, a company that makes sneakers for the virtual world. It is also known that Gucci has collaborated with Roblox to sell digital copies of their products on the Metaverse, and Balenciaga has collaborated with Epic Games to create a special digital collection for Fortnite.https://www.epicgames.com/fortnite/en-US/news/high-digital-fashion-drops-into-fortnite-with-balenciaga According to a news report published in recent weeks, Walmart, the U.S.-based retail giant, is testing the waters to jump on the metaverse bandwagon, planning to launch its own crypto-currency and NFT collection.

Metaverse is adding to its repertoire of digital channels in line with the multi-channel marketing trend, one of the Digital Marketing Trends of 2022, which we already covered in this article. Brands see this new version of the Internet as an opportunity to interact with users and potential customers. According to Andrew Kiguel, CEO of Tokens.com, this is so because the Metaverse is more engaging than social media platforms as we know them. Users function as content creators on the platform, and the content they create belongs solely to them. Thanks to the metaverse, brands can cut out the “middleman” and reach out to their consumers directly, get the opportunity to try out new business models, and test out the campaigns suitable for long-term business goals such as sustainability.

Kiguel compares the metaverse to Las Vegas: What used to be a desert years ago is now considered the entertainment capital of the world. In short, we have seen many developments with the metaverse such as the launching of brands focused exclusively on digital fashion and opening of their first stores in the Decentraland universe as well as the creation of the Metajuku shopping district by Republic Realm and launching of the Metaverse gallery by Sotheby’s, one of the world’s famous auction houses. These all prove that Decentraland has already started to reflect real-world habits. All signs point to the metaverse defining a new frontier for humanity.