What is Decentraland
You could say digital real estate market, which has made a shared virtual space much more than we usually imagine. Decentraland is, indeed, a metaverse, a very overused word these days, but one that is perfectly consonant with this reality.
More specifically, a metaverse in which players can buy land, create unique structures and interact with other users as they please.
And it is difficult to define its limits, precisely because a virtual world like this cannot be reduced to the categorization of play-to-earn video game (for having all the characteristics of it), and the services can vary in multiple areas.
Index
The development of Decentraland
For starters, Decentraland is built on the Ethereum network, and consists of a virtual reality platform that offers players a “decentralized life” experience, in which they can still enjoy ownership of their in-game assets. And it is quite a mature reality for the crypto industry if you count that the project has 2017 as its birth date. This has made it not only a benchmark of the gaming-nft industry, but also one of the digital realities with the greatest prospects.
The native token was launched, to be exact, in 2017, while control of the game was placed immediately in the hands of users, with the establishment of an autonomous decentralized organization (DAO) shortly after TGE. There is no board of directors that decides the lines of development, and it is the MANA token holders who decide. This mechanism affects everything from the types of items allowed down to the fees to be charged in the game. And all decision-making is handled by the Aragon software.
The structure of the Decentraland game
Decentraland’s Project Lead is Ari Meilich, who previously worked for Charles River Ventures, funding a Customer Relationship Management (CMR) platform and an online translation agency. Esteban Ordano, on the other hand, is the technical lead, and was a software engineer at Smart Contract Solutions. The team’s experience does not seem to be lacking, and has enabled the development of a protocol underlying a three-layer peer-to-peer infrastructure.
A first consensus layer tracks the location of portions of land, ownership, and game content. The “Land Content Layer” collects the assets (objects, textures and sounds) needed to render the scenario, using a decentralized distribution system. And lastly, the “Real-Time Layer” handles user communications via chat.
An architecture intended to make the world of Decentraland seem as real as possible, giving users full control and ownership of their decisions. Based on the idea of recreating a “second life” experience but developed on blockchain.
The technology on which the metaverse is developed, however, is only the tip of the iceberg. Decentraland users are given the opportunity to create games, artwork, skins, and any kind of NFT. While the world offers the opportunity for all players to engage in conversations, explore new parts of the cities and, of course, design their own “land” as they please.
The creative factor is a key element in the Decentraland universe. An attraction for both players and creators, to whom are dedicated various tools for creating unique NFTs. It is also aided by a large community, which is constantly implementing new game features.
MANA and LAND
Among all video games developed on blockchain, Decentraland is one of the most prominent economies. And the MANA token continues to grow its fan base, even at an extraordinary pace over the past year.
To use it, one only needs to leverage the Decentraland wallet, which is also useful for “Land” management, and consists of the metaverse’s fungible token, primarily useful for participating in land auctions. As well as, as mentioned above, for participating in DAO and all other in-game services offered by the platform.
You can follow the price of Decentraland in real time thanks to TradingView’s MANA/USDT chart:
LAND, as you might have guessed, on the other hand, is the non-fungible resource of the game, and consists of a unique NFT that represents the land obtained in the metaverse, where you can take advantage of all the opportunities put into play by the platform.
Users can purchase “packs” of LAND, and participate in auctions in the marketplace. The price, of course changes depending on the moment, just like the classic real estate market, but still the game allows users to resell their assets at any time.
The prospects of the Decentraland metaverse
Over time, Decentraland assets have become a highly sought-after digital asset, and it is no coincidence that many players have been attracted by the smell of bargains. It can be said, in any case, that Decentraland remains among the most important examples of consistent development of a metaverse, all the more so when one considers the development, which began long before this word became a trend.
But, concretely, how can one come into possession of a LAND? There are two ways to participate in this virtual real estate market. The first is to go to an NFT market, such as OpenSea. Otherwise, there is the Decentraland Marketplace.
Otherwise, the Decentraland Marketplace offers a variety of possibilities that are hard to describe, and MANA can be leveraged to achieve all of that. One such option, for example, is customization of one’s avatar, which has created an immense marketplace of gadgets and collectibles. With the classic hierarchy of collectibles, whose price varies according to their rarity, which in turn can be distinguished by colors.
Conclusions on the Decentraland metaverse
On balance, Decentraland is more than an economy. It is a catalyst for players from all over the world, who seek to invest in this asset while enjoying the concrete resources the game offers. That is, an immersive experience made possible only through a mixture of fun, rewards, creativity and social moments.
But not only that: it is also a great channel for marketing operations, which only creates a virtuous circle in terms of popularity, for the platform and for the companies themselves. There are companies like NFT Plazas, for example, that have purchased in-game spaces where they have built billboards, which are then made available to companies that want to use the “Virtual Out Of Home” lever. Already, it is easy to come across posters from Tommy Hilfiger, Dolce & Gabbana, and Chanel. Samsung, at the last CES, opened “837X” a replica of a store with three rooms dedicated to sustainability, personalization and connection.
