Decentraland Is an Ethereum blockchain-powered virtual world offering users a chance to create digital experiences and content and monetize them. Users own land parcels in Decentraland. By owning, it means they have complete control over the virtual property and can do anything they want with it.
A blockchain-based land parcel gives the user complete ownership. Owners can rent out or sell their property to make profits. As an investor in Decentraland, you can buy property (LAND), establish virtual businesses, design landscapes, shop, and play world games, among others.
How much is a Land Parcel in Decentraland?
Decentraland features 90,601 Land parcels, which include 43,689 private parcels, 33,886 district land parcels, 3,588 plazas, and 9,438 streets. Each measures 16m x 16m square space. The highest cost of a parcel ever sold before now in the metaverse is 2,000,000 MANA. MANA is the governance token used in Decentraland.
It is an ERC20 token and can be used to acquire LAND and buy other platform items. At the time of this writing, the listed Land parcels available to buy on the platform cost an average of $2,660. Some go for as high as over $39,000.
How Much Can I Earn with Decentraland Land Parcel?
You can earn profits from Land parcels in Decentraland by renting them out or selling them. Digital land works like real-world real estate investments. The only difference between the two is that virtual real estate is unpredictable.
The value depends on its community. Even at that, it is still a profitable investment. Users who bought Land parcels in Decentraland a few years ago for less than $500 are selling them for as high as $3000 today. Although the crypto market is experiencing a setback and NFTs are also affected, investing in the market remains a profitable venture.
If you are looking for an investment with quick returns, buying a Land parcel or NFTs may not be the best for you now. However, if you do not mind investing and waiting for things to pick up again, you can make a fortune from investing in the Decentraland Land parcel.