Decentraland Announces World’s First Metaverse ATM

The creators announced in a blog post that Decentraland is launching the world’s first metaverse ATM in collaboration with Transak payment gateway and the Metaverse Architects studio.

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Decentraland Announces World’s First Metaverse ATM 1

The first metaverse ATM is being introduced by well-known metaverse platform Decentraland. The Ethereum blockchain powers the virtual reality platform Decentraland. Users on the platform can create, use, and make money from their own content and applications.

For context, the metaverse is an interactive digital environment where social interactions and business transactions can take place simultaneously. It combines offline and online experiences. To make it simple for consumers to buy Mana or any other cryptocurrency, Decentraland has partnered with the Transak payment gateway and the Metaverse Architects studio. Mana is mainly utilised as a form of in-game currency. In-game objects can be purchased and sold by players using cryptocurrency.

The ATM is designed to improve user experience, claim the developers. The creators wrote in a blog post, “Just like an ATM in real life, we wanted to give users a more seamless journey while navigating web3.” At a public conference on August 3, more information on how the ATM will function and how to install an ATM on your property will be provided.

It should be emphasised that banks are embracing the idea of the metaverse as well. Beginning in 2022, J.P. Morgan opened its first metaverse lounge on Decentraland. Additionally, a partnership between The Sandbox, a virtual game platform, and HSBC, the largest bank in the world, was announced.

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According to a recent DappRadar report, blockchain and metaverse games saw a 9.51 percent increase in the second quarter of 2022, despite the collapse of the cryptocurrency market.

There are 9,000 parcels altogether in Decentraland. Common areas, plazas, and roadways in Decentraland are owned by the developers; individuals cannot buy or sell them. One of the main factors influencing the price of land in Decentraland is its scarcity.

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