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Top Metaverse platform Decentraland has launched the first ATM in the virtual world in partnership with Transak payment gateway and Metaverse Architects studio. Decentraland is hosting events for users to celebrate the ATM’s launch.
The developers aim to give users a real-life ATM experience inside Decentraland. The Transak ATM allows users to buy Decentraland’s native token MANA and other cryptocurrencies with fiat money.
Transak is an integration toolkit that lets users buy and sell crypto in any app or website while providing a fiat to crypto payment gateway. The Transak team believes that the ATM in Decentraland will raise conversion rates in Metaverse stores.
Transak’s ATM is available to everyone in Decentraland. Landowners can also add an ATM to their property after making arrangements with Transak. ATMs will work in-game, so when users browse a store or enjoy a concert, they can quickly top up their MANA to make a purchase.
As with other ATMs, fees apply, which can be linked to landowners through a unique API.
The ATM simplifies using money in the Metaverse and saves time for users.
“If you are coming from the web2 world and would like to make your first purchase in Decentraland it requires a tedious amount of research about how to convert your fiat into Ethereum and then into Mana. We offer a direct route to go from credit cards to Mana in seconds,” Transak announced via their website.
In July, Decentraland partnered with music platform Lickd to create soundtracks for Decentraland’s major commercial zone, Vegas City.
Last week, a press release from Research and Markets estimated that the global crypto ATM market will go from $46 million in 2022 to $427 million by 2027.
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