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Metaverse Peek – The Purpose Behind DecentWorld’s Internal Currency

Experts estimate that the web3 economy will reach $13 trillion by 2030, leaving even the biggest metaverse skeptics wowed. It is clear that we are witnessing the rise of a...
Metaverse Peek – The Purpose Behind DecentWorld’s Internal Currency Metaverse Peek – The Purpose Behind DecentWorld’s Internal Currency

Experts estimate that the web3 economy will reach $13 trillion by 2030, leaving even the biggest metaverse skeptics wowed. It is clear that we are witnessing the rise of a completely new economy – but how exactly does its money work?

DecentWorld, a Swiss-owned digital real estate platform, sheds light on how their metaverse economy functions. Having launched just a few months ago, the company reported having sold $19 million worth of virtual Street NFTs already. The platform acts as a gateway to the metaverse, allowing individuals, agents & companies to acquire, hold and sell virtual real estate or Street NFTs.

DecentWorld’s current internal paltforms’s economy is fueled by their native currency, the DWRLD utility token.

DWRLD Tokens Explained

The concept of the metaverse is gigantic. These immersive and interoperable worlds offer experience where you can do everything you would in the real world, except virtually. The emerging market has attracted the biggest brands and creators, while bridging various industries. Naturally, to enable trading in the metaverse, a well-crafted economy is required, often with the help of internal currency.

Metaverse tokens are a unit of virtual currency used to make digital transactions within a given platform. Since some metaverses are built on blockchain, which is designed to ensure trust and security, the transactions made on it are regarded as safe and fraud-free.

The DecentWorld team has chosen to take that same path and have its internal currency — the DWRLD token which is used for digital transactions.

“Our DWRLD token is a unique, in-house created cryptocurrency. It is used for any trading matters such as buying, staking, or selling within DecentWorld. We created it not having in mind one particular blockchain but rather focused on its utilities and the ease of technical implementation,” the creators explain.

Less Fees for the User

Why create a new crypto currency when there are already hundreds to choose from? DecentWorld offers their take on why having a fully functioning utility token such as DWRLD matters in this day and age of new metaverses popping here and there almost every week.

“Contrary to some of the metaverse projects out there, we made the decision to have an internal currency in order to have more control over costs for the user. Using well-known coins such as Ethereum is also possible, however processing fees, third party providers, and long strings of public and private crypto keys would only increase the final amount on the user’s end,” the DecentWorld team says. Each transaction made in DecentWorld using the internal currency helps to reduce the end cost of the Assets or Street NFTs, which ultimately makes a positive impact on the platform’s overall economy.

NFTs – The Ticket to the Metaverse

If the metaverse is built using blockchain it will keep a record of everything that’s bought, sold, and traded on a ledger. User purchases like Street NFTs will have immutable proof of ownership.

Currently, users of DecentWorld are able to purchase digital copies of real world streets, while Landmarks, Buildings, and Collections (unique sets of Street NFTs) will be introduced at a later date. All of these virtual Assets will be available as stand-alone NFTs, enabling interchangeable trading from one platform to another without limitation.

The DecentWorld team believes that this industry will create millions of jobs that don’t exist in the world right now, and will completely reimagine how resources are monetized.

"Digital economies emerged, driven by the idea of collecting digital assets to later resell them on various virtual markets. These economies are the future. That's how the metaverse functions - you participate, and you get rewarded. NFT technology helps to accelerate the development of the metaverse economy, and will soon reach a point of no return in how we understand the world," the team shares.

Continue reading on DailyCoin

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23-05-2022 13:20:22 (UTC+7)

EUR/USD

1.0606

+0.0046 (+0.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

EUR/USD

1.0606

+0.0046 (+0.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Buy (7)

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GBP/USD

1.2569

+0.0082 (+0.66%)

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↑ Buy

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USD/JPY

127.89

+0.04 (+0.03%)

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↑ Buy

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Buy (10)

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Buy (9)

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AUD/USD

0.7116

+0.0083 (+1.18%)

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USD/CAD

1.2786

-0.0050 (-0.39%)

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↑ Sell

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EUR/JPY

135.65

+0.63 (+0.47%)

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EUR/CHF

1.0309

+0.0013 (+0.13%)

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Gold Futures

1,852.05

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Silver Futures

21.940

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Copper Futures

4.3238

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Crude Oil WTI Futures

111.28

+1.00 (+0.91%)

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Brent Oil Futures

111.04

+1.05 (+0.95%)

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Natural Gas Futures

8.205

-0.195 (-2.32%)

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Neutral

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US Coffee C Futures

216.48

-2.22 (-1.02%)

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Euro Stoxx 50

3,657.03

+16.48 (+0.45%)

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↑ Buy

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Buy (7)

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Buy (9)

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S&P 500

3,901.36

+0.57 (+0.01%)

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DAX

13,981.91

+99.61 (+0.72%)

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FTSE 100

7,389.98

+87.24 (+1.19%)

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Neutral

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20,504.00

-213.24 (-1.03%)

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↑ Buy

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US Small Cap 2000

1,773.27

-2.96 (-0.17%)

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IBEX 35

8,484.50

+78.50 (+0.93%)

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Neutral

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BASF SE NA O.N.

48.850

-0.010 (-0.02%)

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Buy

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Bayer AG NA

63.74

+0.34 (+0.54%)

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Buy

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Allianz SE VNA O.N.

195.58

+0.78 (+0.40%)

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Buy

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Adidas AG

172.80

+0.92 (+0.54%)

Summary

Buy

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Sell (1)

Deutsche Lufthansa AG

6.852

+0.049 (+0.72%)

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Siemens AG Class N

115.08

+2.62 (+2.33%)

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Neutral

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Deutsche Bank AG

9.362

-0.130 (-1.37%)

Summary

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Buy (8)

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 EUR/USD1.0606↑ Buy
 GBP/USD1.2569↑ Buy
 USD/JPY127.89↑ Buy
 AUD/USD0.7116↑ Buy
 USD/CAD1.2786↑ Sell
 EUR/JPY135.65↑ Buy
 EUR/CHF1.0309↑ Buy
 Gold1,852.05↑ Sell
 Silver21.940↑ Buy
 Copper4.3238↑ Buy
 Crude Oil WTI111.28↑ Buy
 Brent Oil111.04↑ Buy
 Natural Gas8.205Neutral
 US Coffee C216.48↑ Buy
 Euro Stoxx 503,657.03↑ Buy
 S&P 5003,901.36↑ Buy
 DAX13,981.91Buy
 FTSE 1007,389.98Neutral
 Hang Seng20,504.00↑ Buy
 Small Cap 20001,773.27↑ Buy
 IBEX 358,484.50Neutral
 BASF48.850Buy
 Bayer63.74Buy
 Allianz195.58Buy
 Adidas172.80Buy
 Lufthansa6.852↑ Sell
 Siemens AG115.08Neutral
 Deutsche Bank AG9.362Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,880/ 6,980
(5/ 5) # 1,770
SJC HCM6,895/ 6,985
(0/ 0) # 1,776
SJC Hanoi6,895/ 6,987
(0/ 0) # 1,778
SJC Danang6,895/ 6,987
(0/ 0) # 1,778
SJC Nhatrang6,895/ 6,987
(0/ 0) # 1,778
SJC Cantho6,895/ 6,987
(0/ 0) # 1,778
Cập nhật 23-05-2022 13:20:24
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ↀ Giá vàng thế giới
$1,854.81+8.990.49%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
DO 0.05S26.65027.180
DO 0,001S-V27.45027.990
Dầu hỏa 2-K25.16025.660
ↂ Giá dầu thô thế giới
WTI$110.50-0.8-0.73%
Brent$111.23-0.68-0.62%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.005,0023.315,00
EUR23.899,8625.238,69
GBP28.277,1029.483,51
JPY176,47186,83
KRW15,8019,25
Cập nhật lúc 13:17:32 23/05/2022
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