• bitcoinBitcoin(BTC)$23,352.00-0.03%
    BITCOIN
    24H : -0.03%
    Volume : $21,459,220,740.00
    Marketcap : $450,211,157,075.00
  • ethereumEthereum(ETH)$1,661.810.440%
    ETHEREUM
    24H : 0.440%
    Volume : $6,927,865,692.00
    Marketcap : $200,293,678,134.00
  • tetherTether(USDT)$1.000-0.06%
    TETHER
    24H : -0.06%
    Volume : $30,404,559,450.00
    Marketcap : $68,102,099,592.00
  • binancecoinBNB(BNB)$329.790.070%
    BNB
    24H : 0.070%
    Volume : $571,667,830.00
    Marketcap : $44,471,216,157.00
  • usd-coinUSD Coin(USDC)$1.000.050%
    USD COIN
    24H : 0.050%
    Volume : $2,860,057,730.00
    Marketcap : $41,976,217,297.00
  • rippleXRP(XRP)$0.4100.130%
    XRP
    24H : 0.130%
    Volume : $618,287,178.00
    Marketcap : $20,805,537,555.00
  • binance-usdBinance USD(BUSD)$1.000-0.01%
    BINANCE USD
    24H : -0.01%
    Volume : $7,140,137,001.00
    Marketcap : $16,275,391,420.00
  • cardanoCardano(ADA)$0.397-0.84%
    CARDANO
    24H : -0.84%
    Volume : $268,994,246.00
    Marketcap : $13,925,438,228.00
  • dogecoinDogecoin(DOGE)$0.0950.590%
    DOGECOIN
    24H : 0.590%
    Volume : $1,401,045,571.00
    Marketcap : $13,098,164,846.00
  • matic-networkPolygon(MATIC)$1.251.67%
    POLYGON
    24H : 1.67%
    Volume : $558,558,870.00
    Marketcap : $11,242,854,475.00
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

Decentraland Now Allows Landowners To Rent Out Virtual Properties

7 December 2022
in Latest News, News
Reading Time: 3 mins read
111 1
Decentraland Now Allows Landowners To Rent Out Virtual Properties

image source: nftplazas.com

Decentraland, a metaverse platform, recently announced a new feature that turns its customers who own virtual land into landlords. Owners can now formally rent out their properties to other network users for a set period. Users can now generate passive income through their metaverse assets. 

Through the use of Ethereum transactions on-chain and a server run by the Decentraland Foundation off-chain, the new system will enable both landowners and tenants to rent out land in a secure and decentralized manner. 

All land rents are paid in Decentraland’s native token (MANA), and the total amount is paid upfront. The site provided examples of DJs renting space for a club or party and virtual institutions renting land to create campuses. 

The smart contracts on the 3D virtual platform were created by two experienced blockchain developers, Ari Meilich and Esteban Ordano.In addition to the ERC-20 token MANA, the ERC-721 tokens ESTATE, which stands for meeting lands, and LAND, which is a nonfungible ERC-721 token, are available in Decentraland. 

Landlords in Decentraland are subject to the same regulations as those who rent out physical properties: they are not permitted to sell or accept offers to buy the property until the term of the rental agreement expires. 

According to Decentraland’s rental notification, prospective tenants can view all available lands in the marketplace’s Land area for rent or sale.

Tenants must first choose to let the renting smart contract manage their MANA before deciding on the length of the rent or making payment for the land. 

The tenant receives the Operator Permission after payment and approval of the LAND rental, which the Landowner may reclaim when the expiration date approaches. 

This development comes at a time when the metaverse is evolving and gaining traction both within and outside of the Web3 sector.

 

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share65Tweet41Share11
Previous Post

Beepo Announces Strategic Partnership With Concordium To Address Privacy Concerns

Next Post

HSBC Launches Orion; a Blockchain-Based Tokenization Platform

Favour Udeo

Favour Udeo

Related Posts

Binance Returns to South Korea via GOPAX Exchange Acquisition
Latest News

Binance Returns to South Korea via GOPAX Exchange Acquisition

3 February 2023

Binance has, according to new reports, acquired control of Gopax, a South Korean cryptocurrency trading platform. The acquisition marks Binance's return to the South Korean market after leaving two years prior. The Industry Recovery Initiative, a co-investment project created...

Australia Publishes Whitepaper on Crypto Asset Classification
Latest News

Australia Publishes Whitepaper on Crypto Asset Classification

3 February 2023

In the wake of the worldwide crypto industry regulatory push, the Australian Treasury has published a public consultation on the taxonomy of crypto assets. The four main product categories relating to the cryptocurrency industry are proposed to be separated...

Reliance, India’s Leading Retailer, to Adopt Digital Rupee CBDC at Its Stores
Latest News

Reliance, India’s Leading Retailer, to Adopt Digital Rupee CBDC at Its Stores

2 February 2023

Reliance Retail, the largest retail chain in India, is set to begin accepting retail payments in digital rupee, which is expected to greatly boost the adoption of the country's central bank digital currency (CBDC).  The gourmet retail line, Freshpik,...

Former Bank of China Advisor Asks China to Rethink Crypto Ban
Latest News

Former Bank of China Advisor Asks China to Rethink Crypto Ban

2 February 2023

Huang Yiping, a former member of the Monetary Policy Committee at the People's Bank of China, believes that the Chinese government should re-evaluate the sustainability of the cryptocurrency trading ban in the long term. Yiping expressed his concerns about...

Swap Crypto

Markets Update

Bitcoin Dips Below $16.5K, Solana Records New Weekly Low, Down 23%

1 month ago

Solana Ends the Year on a Low

1 month ago

LUNA Classic (LUNC) Drops 8%, Bitcoin Dips to Weekly Low

1 month ago

Price Prediction for Nervos Network (CKB) 2023-2025-2030

1 month ago

VanEck Predicts Bitcoin To Drop Between $10K-$12K In Q1 2023

2 months ago

Tron’s Algorithmic Stablecoin, USDD Falls Below the 1:1 Dollar Peg

2 months ago
Read More

Spotlight

All about SolChicks

All about Algorand

All about Bitcoin

All about Goracle

Press Releases

Vybe Launches Bntyhntr: A Digitalized Treasure Hunt Product on the Algorand Chain

Vybe Launches Bntyhntr: A Digitalized Treasure Hunt Product on the Algorand Chain

byGuest Author
25 January 2023
0

...

BetDEX-Exchange-to-Launch-on-Solana-Mainnet-Ahead-of-2022-FIFA-World-Cup.jpg

BetDEX Exchange to Launch on Solana Mainnet Ahead of 2022 FIFA World Cup

byGuest Author
8 November 2022
0

...

BetDEX-Exchange-Becomes-First-Fully-Licensed-Sports-Betting-Exchange-on-Blockchain.jpg

BetDEX Exchange Becomes First Fully-Licensed Sports Betting Exchange on Blockchain

byGuest Author
1 November 2022
0

...

Metrika Partners with Axelar to Help Delegators Maximize Staking Rewards

Metrika Partners with Axelar to Help Delegators Maximize Staking Rewards

byGuest Author
12 October 2022
0

...

Y7 Marketing is Launching the First Decentralized Marketing DAO on Algorand

Y7 Marketing is Launching the First Decentralized Marketing DAO on Algorand

byGuest Author
17 August 2022
0

...

Read More
  • About Us
  • The Team
  • Careers
  • Contact
  • Partnerships

© Copyright 2022 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

No Result
View All Result
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version