The concept of a virtual world has been a part of our lives since the late 1970s and 1980s, thanks to movies. You’ve probably heard of cryptocurrency, and now you can own a piece of virtual real estate using this currency. Big names like Facebook have recently coined the term “meta,” which has taken the world by storm. It contributes to the integration of the virtual and real worlds. If you’re interested in starting your own virtual world like decentraland, we’re here to provide you with a quick overview of the concept, including features, the need for the platform, and how to get started!
What is Decentraland?
Decentraland is a blockchain-based gaming platform that allows users to own a piece of virtual real estate. The Ethereum blockchain network serves as the foundation for the entire concept. Users can create and monetize their virtual assets however they want on the platform. Registered users have full control and ownership of their assets.
Working of Blockchain powered NFT Platform Decentraland
The players can purchase the digital collectibles known as parcels. The parcels are the basic blocks of the NFT based game. There are basically three sorts of tokens that contribute to the growth of the platform:
- MANA: It is a type of cryptocurrency that allows buying land, services, and other virtual assets on the platform.
- LAND: It is an NFT that represents the ownership of the land parcels reflecting a virtual real estate
- Estate: It is another token like the one mentioned above, but it represents combined parcels of land.
These tokens completely control the Decentraland platform. The users have to create a MetaMask wallet to store the tokens to buy/sell the items on the platform. Then, you are able to buy the wearable for your avatars. Every detail of the transaction is stored on the ethereum blockchain network. In another way, finally, you can make a registry of the purchased items in decentraland.
Exciting Benefits of Platform like Decentraland based on Blockchain Technology
High Security and Transparency
Blockchain networks protect the ownership of virtual assets. All the transactions executed on the platform are stored on the digital ledger. All the involved parties can access the details of the transactions. So, full transparency is maintained by the platform.
Liquidity
Players can easily and in no time liquidate their in-game digital assets by trading on other marketplaces or the same platform.
Holding Mechanism
Players acquire various game assets on the NFT gaming platform like Decentraland. All these in-game assets are accessible on the other gaming platforms also.
What Are The Essential Features of an NFT Based Marketplace Like Decentraland?
- High Tradability
- Standardisation
- Interoperability
- Liquidity
What Sets Decentraland Apart From Other Virtual Worlds?
Virtual lands are not a new concept; there are a plethora of them out there that allow users to do almost anything with their lands.They can monetize the virtual world by buying, selling, or even renting land parcels. ‘So, what makes Decentraland clone so special?’ If you’re asking this question, the difference is that you can own it.
There is a huge opportunity for you to own something that is not limited to the 3D space in which we currently live! You can change it or transform your land, and the platform will keep everything, unlike other platforms that take a cut every time. As a result, another plus point is that there is no central authority imposing its agenda.
How To Launch a Virtual Platform like Decentraland?
To experience the endless opportunities in the virtual gaming world, entrepreneurs look to replicate successful business models like decentraland. The decentraland clone platform offers satisfaction to the players in terms of enjoyment and earning high income. If you are ready to experiment with something lucrative and interesting in the digital space, you have two options to launch your platform.
- You can start building the project from scratch.
- Use decentralised clone script.
Both the above options are with different benefits and challenges. The biggest deciding factor is the time required to launch the platform. If you are curious and enter the market in no time, you should go with the second option. So, let’s know in detail how both the options mentioned above play their part in the development time.
How Long Will It Take To Develop The Decentraland Clone Software?
Development from Scratch
Building a project from scratch is a long process. It involves designing the whole project from the start. Blockchain developers have to bring a new concept of decentraland clone into reality. It is the perfect choice if you want to integrate the platform with exclusive features. The development time varies depending on the project size and complexity of the project. So, on average, the development time for an NFT based platform can be around 10 to 16 weeks.
White label Decentralised Solutions
It is the right choice for you if you want to launch your application in the market readily. On the other hand, blockchain developers can customise the ready-made solution depending upon your needs and budget to meet your business needs.
The ready-made solution is designed based on the ETH blockchain, allowing users to trade the NFTs on the platform without experiencing any risk. As the white label NFT based virtual platform is already ready, it does not ask you to wait for months; you can approach a blockchain development company and launch your application within a few days.
How Should You Choose a Decentralised Clone Development Company?
Seeing the demand for virtual platform development, many IT companies adopt the advanced and latest blockchain technology to build high-demand NFT based platforms. So, when you look for a build your own bitcoin exchange website Company, the options are unlimited. However, you have to examine the following details about the company to partner with:
- Experience in the industry.
- Skills and knowledge of the development team
- hourly rate of developers
- Location of the company
- Portfolio and case studies
- Reviews and rating
- Tech stacks to use
After analyzing all the details mentioned above, you should collaborate with a reputed company to get the best possible result. Don’t delay any more! Be quick to enter the competition.