How to Gamble in Decentraland?
Decentraland is an interactive, social, and totally decentralized virtual world. A big component of Decentraland is its decentralized online crypto casino, which is revolutionizing the world of online gambling.
What is Decentraland?
Although it is not the first virtual life simulator ( nowadays referred to as the metaverse) like Second Life, what makes Decentraland different is that it is totally decentralized. In other words, there is no governing body like a company or developer who dictates what people can and can’t do. Instead, everything in this world is managed via smart contracts on the Ethereum blockchain. Because of that crucial difference, Decentraland has been able to develop a comprehensive free market where people from all around the globe can participate in a realistic capitalist community.
The Decentraland Economy
The basis for the community is the crypto called MANA that can be bought using USD, just like any crypto coin. Again, there is no one in charge of Decentraland, so buying MANA is not like buying credits in most online worlds. Rather, it is a real investment where the exchange you use is the only one to get a tiny cut of the transfer. Still, transferring USD to MANA is pretty complicated, and it is often quicker and more convenient to make your own money in Decentaland.
More than 120,000 users make their way to the Dapp each month. They can make money in Decentraland in a myriad of ways from selling virtual land in the virtual world to working at jobs that might be staffed by AIs in other world simulations. The transactions are paid for in the aforementioned MANA. A user is technically able to withdraw the MANA into USD, but they’re probably better off leaving the money as it is and using it in the Decentraland community. Especially when you take into account that the value of this crypto is almost constantly on the rise.
If a user does decide to buy products with their MANA, they will get non-fungible tokens rather than the easily duplicated digital items you’ll find in most games. In other words, each product is unique, just like products in the real world. If you opt to buy a designer t-shirt for your avatar, it is guaranteed not to be a duplicate of another file. There may have been hundreds or thousands of that design made, but they were each programmed individually without any copying and pasting.
Avatar clothing is not the only kind of non-fungible token you can buy. Other popular NFT products in Decentraland include:
- Virtual land can be used for anything you want, including residence, business, or advertising space
- Houses and other accessories to spruce up the aforementioned land
- Digital artwork
- Avatar names (name “Taylor Swift” will cost you tens of thousands of MANA)
- Digital pets called “ethermon” that you can train and battle.
Decentraland’s First Casino, Tominoya Reviewed
The first casino in Decentraland, Tominoya Casino, is owned by a 25-year-old named Miles Anthony. Anthony opened Tominoya in 2017, and it has thrived since then because it is such a fresh and innovative take on the online gambling formula. It is so beloved by adventurous iGamers for several reasons:
Anyone is Welcome
Most casinos, both land-based and online, do not accept payment in any currency from anywhere in the world. Since crypto coins like MANA are global currency, anyone in the world can join just as easily as anyone else. Because of that, Tominoya can have a truly international vibe.
Basically, gambling on decentralized platforms is more convenient for both the player and the casino. One of the biggest perks players get to experience while wagering in places like Tominoya Casino is the lack of fees.
Interactive Live Staff
Tominoya Casino hires actual Decentaland residents to work as a staff. Dealing with actual people rather than AIs adds a whole new element to gameplay since interactivity is the main thing most online casinos are missing.
Even live casinos cannot match the interactivity of Tominoya, because you can interact with the Decentraland casino employees even out of the game. When they are done with their shift, for instance, you might catch them at the casino bar and have a down-to-earth chat, one Decentraland resident to another.
Decentraland is run on the blockchain, which makes it very difficult to exploit. The technicalities are very complex, but everything that happens in the game is essentially recorded in an online ledger that anyone can view. This fact makes it nearly impossible for people to set up bots like you commonly see on traditional online gambling sites involving high stakes.
Like in VR casinos, you can immerse yourself in Decentraland and get more of a real-life casino experience than most online casinos offer. You can also gamble alongside your friends, whether they are in the same room or on the other side of the Earth.
No Legal Roadblocks
Since Decentraland is run on the blockchain, it is not governed by US laws. And that means anyone, regardless of their location, can join in. That of course extends to other countries too.
What can I win in the Decentraland casino?
Players can bet with MANA, DAI (the original Etherum Stable coin), ATRI (Atari Games), and USDT (the infamous Tether stablecoin). But since Decentral Games is a DAO (decentralized autonomous organization) and is trying to establish a market for its own coin, it only pays out another cryptocurrency called DG token. Like all crypto, DG token is stored on the blockchain and can be used or converted almost instantly after they are obtained.
Atari and the Future of Decentraland Gambling
Atari was the second company to join Tominoya in a burgeoning Decentraland gambling district called Vegas City. The Atari Casino accepts Atari tokens as well as the usual MANA and DAI. Also present in Vegas City are several smaller casinos maintained by Decentral Games, including Chateau Satoshi and Serenity Island.
Assuming the Decentraland casinos take off in popularity (and there seems to be little reason why they wouldn’t), you can expect to see Vegas City grow into a huge deal within the coming decade, with more gaming options and more immersive experiences for gamblers around the world to enjoy together. After all, online gambling has already eclipsed land-based gambling in terms of popularity. Gambling in a decentralized virtual world seems like a logical next step.