Decentraland, a common metaverse platform, is deploying the world’s first metaverse ATM. Decentraland is an Ethereum blockchain-powered digital reality platform. The platform enables users to develop, experience, and monetise their content and applications.
The metaverse is a combination of real and online experiences in an interactive digital space where social interactions and commerce can occur simultaneously. Decentraland has partnered with the Transak payment gateway and the Metaverse Architects studio to facilitate the purchase of Mana and other cryptocurrencies. Mana is generally employed as an in-game currency. Customers can purchase and sell items within the game using cryptocurrency.
According to the designers, the ATM is intended to improve the user experience. “Similar to an actual ATM, we wanted to provide users with a more streamlined web3 navigation experience,” the developers explained in a blog post. More information on how the ATM will operate and how to put an ATM on your property will be available during a public conference on August 3.
It should be noted that banks are also becoming interested in the concept of the metaverse. Beginning in 2022, J.P. Morgan launched its first metaverse lounge on Decentraland. The largest bank in the world, HSBC, and the digital game platform The Sandbox have announced a partnership.
In the meantime, a fresh analysis by DappRadar revealed that despite the crypto market fall, metaverse and blockchain games grew by 9.51% in the second quarter of 2022.
There are a total of 90,000 parcels in Decentraland. The developers of Decentraland own the common areas, plazas, and roadways, which cannot be bought or sold by customers. This scarcity is undoubtedly one of the primary factors influencing the value of land in Decentraland.
