The virtual world concept has been part of our life from the late 70s and 80s through cinema. You must have heard the word cryptocurrency, and now using this currency, you can own the piece of land in the virtual world. Recently, big names like Facebook have introduced a word meta that takes the world by storm. It helps to bring the virtual world and the common people together. If you are also moving forward to launch your own virtual world like decentraland, then we are right here to give you brief details about the whole concept, including features, the need of the platform, and how you can start your journey!
What is Decentraland?
Decentraland is like an NFT based gaming platform that allows the users to own a portion of land in the virtual world. The whole concept is built on the ethereum blockchain network. The platform allows users to create and monetize their virtual assets the way they want. The registered users get complete authority and ownership over their assets. The higher success rate and revenue generation encourage the entrepreneurs to develop a blockchain-based NFT marketplace.
Working of Blockchain-powered NFT Platform Decentraland
The players can purchase the digital collectibles known as parcels. The parcels are the basic blocks of the NFT based game. There are basically three sorts of tokens that contribute to the growth of the platfrom:
- MANA: It is a type of cryptocurrency that allows buying land, services, and other virtual assets on the platform.
- LAND: It is an NFT that represents the ownership of the land parcels reflecting a virtual real estate
- Estate: It is another token like the one mentioned above, but it represents combined parcels of land.
These tokens completely control the Decentraland platform. The users have to create a MetaMask wallet to store the tokens to buy/sell the items on the platform. Then, you are able to buy the wearable for your avatars. Every detail of the transaction is stored on the ethereum blockchain network. In another way, finally, you can make a registry of the purchased items in decentraland.
Exciting Benefits of Platform like Decentraland based on Blockchain Technology
High Security and Transparency
Blockchain networks protect the ownership of virtual assets. All the transactions executed on the platform are stored on the digital ledger. All the involved parties can access the details of the transactions. So, full transparency is maintained by the platform.
Liquidity
Players can easily and in no time liquidate their in-game digital assets by trading on other marketplaces or the same platform.
Holding Mechanism
Players acquire various game assets on the NFT gaming platform like Decentraland. All these in-game assets are accessible on the other gaming platforms also.
What Are The Essential Features of an NFT Based Marketplace Like Decentraland?
- High Tradability
- Standardization
- Interoperability
- Liquidity
How To Launch a Virtual Platform like Decentraland?
To experience the endless opportunities in the virtual gaming world, entrepreneurs look to replicate successful business models like decentraland. The decentraland clone platform offers satisfaction to the players in terms of enjoyment and earning high income. If you are ready to experiment with something lucrative and interesting in the digital space, you have two options to launch your platform.
- You can start building the project from scratch.
- Use decentralized clone script.
Both the above options are with different benefits and challenges. The biggest deciding factor is the time required to launch the platform. If you are curious and enter the market in no time, you should go with the second option. So, let’s know in detail how both the options mentioned above play their part in the development time.
How Long Will It Take To Develop The Decentraland Clone Software?
Development from Scratch
Building a project from scratch is a long process. It involves designing the whole project from starting. Blockchain developers have to bring a new concept into reality. It is the perfect choice if you want to integrate the platform with exclusive features. The development time varies depending on the project size and complexity of the project. So, on average, the development time for an NFT based platform can be around 10 to 16 weeks.
White label Decentralised Solutions
It is the right choice for you if you want to launch your application in the market readily. White label solution integrates with all the required features that make the best decentraland clone app. On the other hand, blockchain developers can customize the ready-made solution depending upon your needs and budget to meet your business needs.
The ready-made solution is designed based on the ETH blockchain, allowing users to trade the NFTs on the platform without experiencing any risk. As the white label NFT based virtual platform is already ready, it does not ask you to wait for months; you can approach a blockchain development company and launch your application within a few days.
How Should You Choose a Decentralised Clone Development Company?
Seeing the demand for virtual platform development, many IT companies adopt the advanced and latest blockchain technology to build high-demand NFT based platforms. So, when you look for a Multi Cryptocurrency Wallet Development Company, the options are unlimited. However, you have to examine the following details about the company to partner with:
- Experience in the industry.
- Skills and knowledge of the development team
- hourly rate of developers
- Location of the company
- Portfolio and case studies
- Reviews and rating
- Tech stacks to use
After analyzing all the details mentioned above, you should collaborate with a reputed company to get the best possible result. Dont delay any more! Be quick to enter the competition.
