Decentraland, a metaverse-based platform has made it possible for owners to rent out virtual land. This is happening as the metaverse narrative expands in the public consciousness.
Decentraland It was the first platform to offer the possibility to buy virtual land parcels. These parcels can be developed and sold in the universe.
These users, also known as LAND owners, have the ability to rent these virtual spaces out as landlords. Official company statements state that landowners can rent out their space starting in December for a specific period.
An account or wallet address known as a LAND owner is one that holds the smart-contract for the digital property. It could be “a parcel, an Estate, or both.” Und noch allowing These properties can be rented out by their owners. The platform also offers passive ways for land owners to make passive income.
Decentraland allows users to rent land. This follows the lead of Sandbox and other popular metaverse projects. Another platform that allows users to rent, buy and sell virtual spaces.
Decentraland was, as we mentioned earlier in this article, one of the first project to enter the metaverse. It was launched after a $24 Million ICO. The closed beta launched in 2019. It was then opened to the public in February 2020.
The platform has allowed users to create a variety of experiences on their virtual land. You can create sprawling 3D scenes and interactive games.
These experiences can be accessed through two native tokens MANA LAND. The former token is an ERC-20 token which you can burn to obtain non-fungible ERC-721 land tokens. MANA can also be used on the platform as a utility token. It can be used for payment of a wide range of avatars and wearables on the Decentraland marketplace.