Is Decentraland the Future of NFT Gaming?

Last Updated: November 24, 2021

Geoffrey

Geoffrey

Decentraland is a decentralized digital world, as the name indicates, is created on the Ethereum block chain. Find out if it’s the future of NFT gaming.
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A decentralized digital world, as the name indicates, is created on the Ethereum block chain. Its goal is to make it easier for cryptocurrency-related metaverse ventures to get off the ground. Digital land may be traded, purchased, built using digital assets, and then monetized via Decentraland. Allows users to carry out additional activities on the platform since the network is decentralized. 

The freemium model is here to stay. As a result of playing for free, players are encouraged to purchase in-game items to improve their abilities, dress up their avatars, and more. Today, we see this in popular games like Roblox, Fortnite, and others. As a game developer, this is a far more lucrative strategy since it keeps players interested and always upgrading to compete with their peers. In the Metaverse, young people will use their in-game avatars, weapons, and skins to send social signals to one another. 

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What Can You Do in Decentraland?

You may play games, explore, and participate with activities in Decentraland, a user-owned virtual world built on Ethereum.  The fastest-growing virtual world based on cryptography is Decentraland. Second Life and Minecraft, that you can get from Gamecamp, two of the most popular online games in the world, were strongly inspired in the design of the game’s user interface. Also, you may acquire property on which to create your own markets or other apps. The MANA token is Decentraland’s native currency. An ERC-20 token can be used to purchase an avatar, clothing, land, and other in-game products and services in Second Life.

It isn’t only the location of the property that makes virtual land valuable, but also how the land is developed by the owners. There is a lot of enthusiasm about what may be developed in the metaverse, which is driving demand for MANA (Decentraland’s digital currency) and land purchases. 

Virtual worlds must have a cause for people to come and visit them, such as an exciting game or interesting material, digital art to admire or new people to meet, or even the chance of winning money in in-world games. The value of digital real estate in the metaverse is expected to rise as more real-world firms utilize the metaverse to interact, market, and connect with users and customers.

Is Decentraland is Good Investment? 

The cryptocurrency’s current market value is $6.6 billion, which has risen by more than a quarter in only one day. Decentraland (MANA) has a market capitalization of $8.1 billion and a 24-hour trading volume of $7.9 billion. One million MANA coins have been issued, with a total supply of 2.1 million coins. 

Decentraland is gaining traction among metaverse-friendly technologically informed consumers because of its technology and its native coin. The price of MANA has also been anticipated to climb by numerous of the platforms indicated above. If you’re looking to invest for the long haul, cryptocurrency may be an excellent option. 

If the forecasts that we are seeing are correct, MANA will attain a new ATH within the next five years. LongForecast predicts that in the following five years, the coin’s value might increase by threefold. As a long-term investment, it’s expected to rise from $1.80 to $2.00. As predicted by the Trading Education website, the price of Decentraland (MANA) is expected to rise over $1, and $4.5 by the end of 2025.

Is Decentraland the Future of Gaming?

From tiny sprites to immersive visuals and gameplay, the gaming industry has evolved tremendously in the previous 30 years. Although games were formerly seen as a kind of amusement. It seems that block chain, NFTs, and video games are all intertwined. Who knows, we might see games like world of warcraft where instead of grinding for hours to get in-game wow gold, you could earn some real bucks off the blockchain. 

Those that like video games are also interested in crypto and NFTs. With gamification of technology and games being enhanced by technology, there are unlimited possibilities.  Anyone may build on block chains since they are permission-less and open. 

There will be games created on top of multiple layer-one block chains, such Ethereum, Solana and Cosmos in the near future. It’ll be simple for players to transfer between games while retaining their NFTs, such as skins, avatars, and weaponry. Currently, this is not feasible. It’s also possible that people will desire to create NFTs, or exchange their NFT assets for a profit. You don’t need to possess a gaming system to participate in this activity.

Written by Geoffrey