Metaverse is the future. However, there are a few Metaverse projects that already exist. Decentraland is one of them. You must have heard of this Metaverse many times. Well, here is a post that will tell you Why Big Brands Want Decentraland Metaverse To Host Their Event.
Recently Samsung decided to create a limited-time virtual store on the Decentraland platform. Not only this the Australian Open Grand Slam will also be hosted in the Decentraland Platform. Yes, you heard that correctly. You can enjoy the live tennis match in front of your eyes through your Avatars.
Decentraland is an ocean of opportunity for various companies and peoples who are not able to develop their own Metaverse. They can host the events on this Metaverse platform. But, what is it that is making Decentraland so famous among the brands?
Let’s find out. But, before that let us have a brief look at the history of the Decentraland Metaverse.
What Is Decentraland Metaverse- A Brief history
Starting with a brief history of the game. Decentraland was introduced to the world as a 2D game in the year 2015. The Metaverse game became accessible to the public in 2020. The company was later purchased by Animoca Brands and today it has got multiple investors. This has made it one of the biggest Metaverse ecosystems in the whole world.
It is a VR (Virtual Reality) platform that allows users to buy land and sell it. You can also manage your virtual property on the platform. So, what would be a better option for the Metaverse users than to invest in Decentraland? After the Metaverse is successfully released, the Decentraland platform will allow the owners to create a new world of their own.
To get access to the application, Pay for services and goods, and trade, you need to have the cryptocurrency called Decentraland MANA.
Talking about the effect of Metaverse release on MANA. The coin observed a spike of 400 percent when Facebook announced its Metaverse Plans. The value of the coin peaked at $4.16 at the time of the announcement.
In other words, Decentraland is a 3D blockchain running on Ethereum. It is the application that allows the users to purchase the virtual land on its platform and own properties. In short, the application allows the users to develop their own virtual world and interact with the other characters in it.
Why Are Big Brands Choosing Decentraland To Host Their Events
As we already told you Samsung planned to open up a virtual store in the Metaverse and the event will also cover a live DJ. Not only this the AO (Australian Open) grad slam is also being conducted in Decentraland. Well, there are various reasons why big brands are choosing the Decentrand Metaverse to host their events. We are here with the list of the most significant reasons for the same.
So, let’s not keep you waiting and start with the reasons why Decentraland is becoming the first choice of big brands.
History Of Steady Growth
As we told you the Decentraland Metaverse was made fully accessible to the public in 2020. However, its development started way back. If you have a look at the stats of the Land NFT sold on Decentraland Metaverse then you can come to the conclusion that the platform has shown consistent growth.
When facebook rebranded itself to Meta, the native crypto token, Mana took a huge leap. As per the reports on 20 January 2022, the platform has done $164.8 million transactions on the real estate NFTs. Well, let us tell you that this number does not contain the transactions that happened in the Decentraland’s Marketplace and other platforms whose data is not accessible. So, the number is pretty high.
You might be thinking that the Metaverse is on a rise at this point in time that’s why the transactions are huge. Well, here is another stat that will surely shock you. In 2018 a virtual land was bought on the Decentraland Metaverse for $150,000. At that time Mana was just 12 cents per token.
As of 21 January 2022, despite being a rough week for the marketers, Mana is worth $2.21.
The Interest Of Denizens
If you live in a city you are known as a citizen. But, if you live in Decentraland Metaverse you are known as Denizens (totally hypothetical). We know that be it any platform Social Media or Metaverse there is a set of audience who make the value fan base of the platform.
This group of people wants the platform to grow. The same is the case with the Decentraland and the Denizens are interested to see the platform grow and they respond to every event that is being hosted in the Decentraland Metaverse.
Decentraland is not just a game, it is the hub for enjoyment. You can do various things in the Decentraland environment. This includes visiting the Clubs, museums and playing games.
A Large Number Of Investors
Do you expect any big brand to host an event without investors? Obviously no. So, this is one of the major reasons why brands are choosing the Decentraland Metaverse for hosting their events.
As we said, the people are buying land in Decentraland on a very large scale. The investors have found their way to invest in the Metaverse. They are collaborating with the owners and coming up with different ideas for advertisement in Decentraland.
Events In Decentraland
Even if there is no event going on by any of the big brands in the Decentraland metaverse. There are still various events such as auctions, museum displays, and more that keep on running in Decentraland.
These regular events keep the audience engaged on the platform and the big brands don’t have to look for the audience on the platform. This is because Decentraland has already gathered many.
Wrapping Up
These were the major reasons that we think are attracting the big brands to the Decentraland Metaverse for hosting their events. Well, there may be various other reasons as well. We have just mentioned the major out of them.
If you have any possible reason in your head then do share it with us in the comments section below. Our editorial team will review it and we will update it in the post as soon as possible. If you have any other queries related to the topic then also feel free to ask us. We will be happy to hear from you.
