The play-to-earn game metaverse, Decentraland, has introduced LAND Rentals in the Decentraland Marketplace. This is expected to make the process of renting LAND and building in the metaverse simpler and easier.
Following the rental launch a week ago, Landowners in the metaverse have listed over 200 plots in the Marketplace.
Renters can find a listing suitable to their budget and needs based on sizes. There are one parcel plots and estates of up to sixty-one LANDs. The daily rental costs range between 1 and 1000 $MANA.
There are already 200+ LAND listings available for rent in the Marketplace🤯
Learn everything you need to know about renting LAND and creating the build of your dreams in our Renters Guide.https://t.co/cyp21bCRDd
— Decentraland (@decentraland) December 15, 2022
How to Rent LAND in the Marketplace
Navigate to the Decentraland Marketplace and click on the Land tab close to the top of the page. It will redirect you to the listings of LANDs for rent and sale. You can choose the Available for Rent option to see only the rental option.
When you have seen the plot your want, select the rental period. The rental period is the number of days you will have complete control over the LAND. The period options available range from 1 to 365 days.
Note that the rental period starts after you complete the rental transaction. Therefore, you should have plans in place to develop and deploy your structure immediately after signing the rental agreement.
After choosing a rental period, the page will display the total rental price. You must pay the total amount in full upfront. The final step is the rental agreement. You need to provide the wallet address of the individual to manage the LAND and deploy the scenes.
After completing the rental process, you may begin working on the LAND and deploy a scene with the SDK or the Builder.
What to know about LAND Rental in Decentraland
Renting LAND in Decentraland is secure. Participants in the agreement use a combination of signatures stored on a server, handled by the Ethereum transaction on-chain and Decentraland Foundation off-chain.
By renting from the Decentraland Marketplace, both parties can enjoy peace of mind and engage in business transactions without any worry. Renters have temporary ownership of the LAND, which will not be interrupted.
Owners cannot sell their LANDs or evict renters while they are actively rented out. Renters can also use the rented plots anyhow they wish.
However, they do not have the LAND’s Voting Power because this belongs only to the owner. Renters can build anything on the rented plot during the validity of the rental contract.