The Decentraland metaverse is one of the most popular virtual worlds in the blockchain space, attracting luxury brands such as Dolce & Gabanna and Tommy Hilfiger. Decentraland is a virtual world owned directly by the users.
NFTs garnered global media attention over the past year, seeing billions of dollars worth of trading volume seemingly out of nowhere. Metaverses similarly saw a massive increase in participants, with Decentraland alone seeing over 300,000 active monthly users at its peak.
What is The Decentraland Metaverse?
The Dentraland Metaverse is a virtual world that can be accessed right in the browser! Decentraland offers its unique ecosystem with $MANA tokens, allowing users to buy, sell and rent land. Building user experiences like min-games, artwork, challenges and other events are encouraged, as is trading digital assets like land, wearables, and names. The $MANA token powers the Decentraland ecosystem and can be found on Coinbase, Binance, Uphold and Crypto.com among most mainstream exchanges.
Metaverse worlds in general have received plenty of backlash and pessimism, despite continuing to grow today. As NFTs become a larger part in the video game space, metaverses also gain traction and credibility. Users are slowly realizing these virtual worlds are similar to games like GTA V, Minecraft or The Sims, with the idea of in-game asset ownership and decentralization included.
Metaverses and virtual experiences will slowly begin to replace our already large use of screen time as a society.
Decentraland Onboarding Metaverse Participants
Decentraland held a fashion show earlier this year (February 2022) that was participated in by Tommy Hilfiger, Dolce & Gabanna and over 60 other luxury fashion brands. Clothing brands showcased metaverse wearable collections, watchmakers released new styles and artists showcased their talents.
The show was similar in style to New York or L.A. fashion weeks, spread between multiple locations. This presented the opportunity for plenty of brands to take part in different ways with some setting up temporary stores and others hosting after-parties. Este Lauder and Forever 21 took the opportunity to show off brand new flagship stores in Decentraland’s metaverse, joining the other big names who already own land.
The technology giant Samsung started using Decentraland by opening it’s 837X metaverse in 2021, becoming one of the first to do so. More recently Netflix jumped into Web3 by utilizing the Decentraland metaverse for marketing efforts on an upcoming film. As additional brands get involved with the metaverse assets will increase in value and the platform gains popularity!
The Decentraland Metaverse is Pushing Blockchain Forward
Metaverse applications in general can drastically help the general Web3 community grow. Metaverses and NFTs both encompass the benefits of blockchain technology with a larger focus on onboarding new participants. Prior to these, it was difficult for people to imagine a bitcoin (or 0.05 BTC for that matter). Metaverses add an element of visualization that many people require to gain interest or knowledge.
Offering a way for users to visualize their assets, is revolutionary for blockchain technology. Giving users ownership and control over their in-game assets while introducing them to a decentralized platform and Web3 values is extremely valuable, both to the users and the larger ecosystem.
It’s only a guess who the next companies will be to adopt blockchain technology. Food and beverage companies, sports leagues, media companies, restaurants and artists alike are all exploring this new exciting technology. The benefits and community focus change the game for marketing and branding, as well as ticketing and product distribution. This is why so many unique brands and companies are spending valuable time and resources on exploring the space.
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