The digital world platform, Decentranland, has announced a new feature that allows users who own virtual land to become lessors. Now, owners can officially rent out their properties to other users of the platform for pre-defined periods of time.
This allows users to earn passive income from their metaverse assets.
Decentraland classifies LAND owners as accounts or wallet addresses that own the smart contract for LAND, either “a Parcel, Estate, or both.”
All land leases are made in MANA, Decentraland’s native token, and are paid in full upfront. The platform gave examples of digital universities that rent land to build campuses or DJs that rent a space for a club or have a party.
As with most leases for physical property, Decentraland owners cannot sell the land or receive offers to buy until the end of the lease period.
Decentraland followers on Twitter suggested that the same rental service was also available for accessories. In general, the response from the community was positive.
This comes as the metaverse continues to evolve and gain more attention both within and outside of the Web 3.0 industry.
The word metaverse itself was up for the Oxford Dictionary’s word of the year, but ultimately came in second.
the internet giant Mozilla has just acquired Active Replica to enhance its metaverse and improve the digital experience of its users. For its part, the developer of metaverses and GameFi, Animoca Brands has confirmed rumors that it will create a billion-dollar metaverse fund for developers who want to build a digital reality.
The metaverse, particularly mega-events like festivals and fashion week, it continues to be a gateway for new community members and developers into the great world of Web 3.0.
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