Decentraland places a larger emphasis on buying, selling, and trading digital land on the platform. The Decentraland and Sandbox metaverses focus on different areas. Users can purchase land on the Sandbox platform, as well as on OpenSea. In total, there are 166, 464 plots of land in Sandbox. Users can build everything from games to art galleries on LAND. LAND can be purchased, customized (developed), and sold. Much like Decentraland, LAND in Sandbox is represented as an NFT on the Ethereum blockchain.
Staking $SAND also increases a user’s chance of finding GEMs and CATALYSTs - resources required to create more rare and valuable ASSETS. Users can stake $SAND inside the game to earn rewards, which may even amount to a share in the revenue generated from $SAND transactions. To get $SAND, users can play Sandbox games, participate in contests, or buy it on cryptocurrency exchanges such as Binance. $SAND owners can also propose and vote on potential changes to the platform. Players must own $SAND to play games, customize avatars, buy LAND, or trade ASSETS on the Marketplace. $SAND is the native token used in Sandbox. Think of voxels as virtual Lego pieces users can leverage to build experiences within the platform. As for Sandbox games, they run on 3D pixels called voxels. Items, avatars, and characters created in Vo圎dit are called ASSETS, which can be turned into NFTs.
No regulatory authority exists to take a cut from land sales, which also means there are no taxes. Profits produced off this “land” go entirely to the owners and anyone using the land. Decentraland offers buyers complete ownership access. In total, there are 90,601 plots of land in Decentraland.Īs the name suggests, Decentraland is decentralized. Therefore, no more land can be created, which increases the value of the land due to scarcity.
Much like land in the real world, there is a finite amount of land in Decentraland.
Powered by cryptocurrency, every tract of virtual land is represented as an NFT. Users can spend (burn) MANA to get LAND tokens, along with upgrading and buying avatars, names, products, services, and more. While MANA is the native token of this metaverse, LAND represents parcels of land in the virtual world. Users can access Decentraland through an internet browser and do not need an account, however, creating an account grants users access to more features.ĭecentraland is associated with two specific tokens - MANA and LAND. Users can play games, buy and own land, attend events like concerts, and even gamble in casinos. Since its debut, Decentraland has been the longest-existing and operational metaverse project to date.īased on the Ethereum blockchain, Decentraland allows users to participate in various activities. The platform launched in 2017 with an initial coin offering of $26 million (raising 86,206 ETH) to provide a comprehensive and immersive 3D metaverse. To understand these two virtual worlds and what they offer, we dive into each platform and cover the basics below.ĭecentraland was one of the first players in the metaverse. Two of the leading metaverses currently accessible to users are Decentraland and Sandbox. Unbeknownst to some, there are some metaverses already available to the public. As tech giants announce plans to build their own metaverses and pour millions (and sometimes billions) of dollars into the emerging virtual worlds, consumer interest is spiking. The metaverse has been a hot topic of late.
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