Decentraland, one of the interactive virtual reality platforms based on the Ethereum blockchain, has just added a cryptocurrency ATM to its metaverse.
This virtual vending machine was created in collaboration with Transakfirma specialized in infrastructure for cryptocurrency purchases, and the Metaverse Architects studio.
World's First Metaverse🏧 is Now Live!
The Transak ATM is the world’s first, fiat-to-crypto on-ramp designed to work in @Decentraland with which users can buy $MANA directly into their wallets!
Try Today👉https://t.co/EQlYWUbt3o#Metaverse #MetaverseATM pic.twitter.com/83OcmyGSjl
— Transak (@Transak) August 2, 2022
“An ATM in the metaverse is a user interface that allows players to walk into a game and convert their fiat money into cryptocurrency, the local currency used to make transactions.Transak explains on its official website.
With this vending machine, Decentraland users can easily buy MANA, the platform’s cryptocurrency. It is also possible to convert fiat money, such as dollars, into other digital currencies.
Metaverse Architects and Transak are proud to introduce the first Web 3.0 ATM in the Decentraland Metaverse.
Visit the launch at Airdrops Tower (📍- 1, -12) for one of our most exciting events yet!#decentralandbuild #metaversebuild #metaversearchitects #metaverseatm pic.twitter.com/KrZNQboCRd
— Metaverse Architects (@meta_archs) August 1, 2022
The coins are paid automatically into the platform’s integrated digital wallet. In the Decentraland metaverse, MANA makes it possible to buy virtual land, invest in non-fungible tokens (NFT) or enjoy digital services.
The cryptocurrencies of the metaverse
Developers have obviously drawn inspiration from everyday life to develop the infrastructure. The British start-up specifies that it is possible to recharge your account between two visits to virtual stores or even during a concert. Previously, the user had to exit the virtual reality game to add cryptocurrencies to his account. From now on, it will no longer be necessary to take off the virtual reality headset to top up the wallet.
“The decentralized ecosystem is a bit like visiting a new country with a different currency. If you want to make your first purchase on Decentraland, it requires a tedious amount of research on how to convert your money into Ether and then into Mana “details the London firm, which is pleased to offer ” a more direct route “.
Other vending machines of the same type will soon appear on the platform. In fact, Transak allows owners of digital plots to integrate a vending machine on their land.
To do so, simply contact the British company via its website. As expected, Transak generates profits by charging a conversion fee with each transfer.
By facilitating the conversion from one currency to another, Transak contributes to improved interoperability between metaverses. As Mark Zuckerberg, CEO and founder of Meta, recently asserted, interoperability is one of the big issues in the creation of the metaverse.
He believes it is essential that the different virtual worlds are compatible with each other. Internet users should be able to transport a digital good, such as an NFT or coins, from one universe to another. It is in this perspective that the Metaverse Standards Forum, a coalition of stakeholders involved in the design of the metaverse, was born.
It is worth mentioning that the first ATM in a metaverse was in Second Life until mid-2008.
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