Decentraland (MANA token) is a platform for virtual reality on Ethereum. We have not reviewed such a project yet. In Decentraland, users can buy land and earn revenues from the value they generate on this land for other users.
Initially, the digital real estate of Decentraland was presented in the form of pixels on a 2D grid. Each pixel had metadata about the owner and described the color. In 2016, a three-dimensional virtual world was created. The concept of further development of the project is reduced to the creation of a fully decentralized, virtual world.
The area of the three-dimensional Decentraland consists of 10×10 meters plots, each of which is a unique LAND token (ERC721), which determines the coordinates of the site, the owner, and hash of the content file (the file itself will be stored on a distributed IPFS file system). The owner of such land plots can acquire new plots only next to their own. One can upload their 3D models onto the plots and customize the scripts of interaction with users. As a result, one can create whole VR cities and build anything they please.
Also, users can upload their own content on the plots, such as photos, videos, games, and even transfer communication from social networks to this platform.
A smart contract tracks who owns what plots in the virtual world. The owner of each land plot can determine the content of their area and transfer ownership of land to other persons or smart contracts. The LAND Manager service was launched on February 7 and allows selling land on the secondary market.
The plans for the near future include the creation of tools for users allowing them to interact with one another and with the virtual world in real time. These will include avatars, voice and text messages, and development of a payment system along with an expanded toolkit for site development.
The developers of Decentraland also plan to create the first exemplary metropolis—Genesis City, which will consist of three concentric rings. Much attention will be paid in Genesis City to the infrastructure of the project, that is the creation of streets, parks, entertainment centers, casinos.
The gaming market demonstrates great interest in the community of a decentralized virtual world. The company is confident that thanks to its brilliant team of gamers, secure smart contracts, and talented experts in blockchain, Decentraland will create the first completely decentralized virtual economy that will become revolutionary in the gaming industry.
The project’s partners include District0x, Aragon, imToken. The head of investment company Grayscale Investments Barry Silbert also spoke positively about the project.
The MANA Token
Using MANA tokens, users can buy and sell the LAND virtual real estate, as well as other products and services on the platform. During the ICO in August 2017, $24 million was collected in less than a minute, and many people did not have time to participate in such a swift token sale. Now one can buy these tokens at the Binance exchange.
Also, the first auction for the sale of LAND, called Terraform, was held in December. All proceeds from the sales, which is 161,483,050 MANA, were burned.
At the moment, we have a lifeless Decentraland Planet, and we are offered to buy cheap land on this planet. It remains to be hoped that the efforts of the creators of the project, as well as the decisions on the scalability of the Ethereum blockchain, will lead to the development of life on this planet. The VR market will soon become the most important in the entertainment industry, and it is best to be ready for it.
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