Popular metaverse The Decentraland platform launches the world’s first Metaverse ATM. Decentraland is a virtual reality platform powered by the Ethereum blockchain. The platform allows users to create, experience and monetize their content and applications.
For context, the metaverse is a mix of offline and online experiences in an interactive digital space, where social interactions and transactions can occur simultaneously. Decentraland has partnered with payment gateway Transak and studio Metaverse Architects to make it easy for users to buy Mana or any other cryptocurrency. Mana is primarily used as in-game currency. Users can buy and sell in-game items using crypto.
According to the developers, ATM is intended to facilitate the user experience. “Just like a real-life ATM, we wanted to give users a smoother journey while browsing the Web3,” the developers said in a post. Further details on how the ATM works and how to deploy an ATM on your property will be available at a public conference on August 3.
Note that banks are also investing in the concept of metaverse. JP Morgan launched its first metaverse lounge on Decentraland in early 2022. The world’s leading bank HSBC and virtual gaming platform The Sandbox had additionally announced a partnership.
Meanwhile, a new report from DappRadar said that despite the crypto market crash, metaverse and blockchain games grew by 9.51% in the second quarter of 2022.
The total number of plots in Decentraland is 90,000. Decentraland developers own the common areas, plazas, and roads and they cannot be bought or sold by users. This scarcity is one of the fundamental drivers of land values in Decentraland.