Decentraland Launches Virtual Property Renting

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Decentraland has levelled up its game features by allowing virtual property owners to rent out their virtual property lands to other users. Now land owners within the Decentraland universe can earn passive income by renting out lands for a predefined time.

This comes at a time when developments in the Web 3.0 ecosystem are scaling up at a rapid pace.

A Brief About Decentraland

Decentraland is one of the most famous and oldest games in the Metaverse. It ranks in competition with Axie Infinity and Sandbox. Companies like Facebook, Nvidia and Nike have also taken several initiatives to make inroads into the Metaverse.

Unlike traditional games, Decentraland allows complete ownership of in-game assets to its participants. The game’s Virtual real estate, clothing and other in-game assets can all be collected as NFTs. The feature to rent virtual land is the latest to a host of other features which the game provides.

Decentraland has two in-game tokens. These are MANA and LAND.

LAND

LAND represents the NFT of virtual real estate in the Decentaland game. Owning this allows one to make developments on the virtual land and share it with the gaming community. LANDS are divided into parcels and districts. Parcels are plots of land owned by individual users, while districts are a collection of these plots. A user who owns multiple parcels of LAND side-by-side can also covert them into Estates.

MANA

MANA on the other hand is the transactional native token of the Decentraland universe. It is used for buying NFTs and also for voting amongst the Decentraland community to make key decisions in the development of the platform

Playing Decentraland is pretty simple. The game can be accessed through a browser or one can download the game on their desktop. Users can join in as guests and begin their journey by linking their crypto wallet. Metamask is the preferred partner for storing all the NFTs. Users can also buy LAND on the OpenSea marketplace.

You can now buy MANA on ZebPay Australia. Explore ZebPay blogs to stay up to date about the latest crypto news.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.