Decentraland installs virtual ATM

The first virtual ATM has appeared in the Decentraland metaverse. The launch was initiated by the Transak payment gateway and Metaverse Architects studio. They are also launching a ten-day event to celebrate the opening of the first virtual ATM. Guests of the metaverse can take part in this large-scale celebration.

The Transak ATM will allow users to buy the local MANA cryptocurrency, as well as any other cryptocurrency, using fiat in the metaverse. According to the creators, the ATM is designed to make things easier for users of the metaverse by making Web3 transactions similar to using an ATM in the real world.

Decentraland installs virtual ATM

During the first launch event at the Airdrop Conference Center, representatives from Transak will explain how property owners in the metaverse can integrate ATMs to monetize their digital real estate.

Large companies are recognizing the potential of the metaverse by joining the digital space. International banking giant HSBC opened its office in The Sandbox back in March, J.P. Morgan opened an office in Decentraland earlier this year. The bank believes that the metaverse market could eventually generate $1 trillion in annual revenue.

Nevertheless, even some advocates of digital development warn investors and companies about the risk associated with going into space, since it is almost impossible to predict exactly how and in what direction the metaverse will develop.

For at least the next decade, the metaverse will flourish. Analysts have predicted that the market value of the metaverse will reach $947.118 billion by 2030, and the virtual real estate market will increase by $5.37 billion by 2026.

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