Definition of Decentraland
Decentraland is the fastest-growing crypto-based virtual world. It creates in 2016 by a group of developers in Argentina. Its UX mainly base on Second Life and Minecraft, one of the most popular multiplayer games globally.
And what distinguishes decentral and from the precursor, virtual worlds is that all of the spaces (called land in the game) except for roads and courts can buy, sold, and developed by the game users.
Also, ownership of those virtual properties is recognized on the Ethereum blockchain to make them easily transferable and prevent fraud. And landowners control what content publish on their parcels of land.
Also which is identified by the set of cartesian coordinates (x,y). And contents can range from static 3D scenes to interactive systems. Such as games, casinos, art colonnades, and whatever else developers can imagine and dream up.
There is a vibrant community of 3D animators, artists, and developers to execute on these virtual spaces, creating new ways for people (as avatars) to socialize and interact with one another.
Land in the Decentraland
Each land parcel its16 meters by 16 meters in size and represent by the NFT (and non-fungible token). And non-fungible token is the unit of data on the blockchain that means the unique digital item (in this case, virtual real estate). Also, NFTs are not interchangeable.
And LAND can purchase with MANA, the official cryptocurrency of Decentraland. And mana can accept and trade on Coinbase and other cryptocurrency trading apps. As of March 25, 2021, one MANA worth dollar 0.85. As of March 2021, on average, one parcel of LAND in the decentraland sold for approximately 6,900 MANA.
Also, which equates to approximately dollar 5,800 USD, LAND parcels can acquire through the in-game marketplace and third-party marketplaces like Open Sea. And it keep in mind that cryptocurrencies are volatile, and speculation is the big reason why most people buy crypto.
What fix we do with the Digital Land?
- In Decentraland (and in other virtual worlds), the community is paramount. It’s like real-world real estate. What makes virtual land value is not only where it’s located inside each metaverse.
- Also but how owners choose to develop the land. Excitement about the possibilities of creating metaverse fuels MANA (Decentraland’s digital currency) and land purchases.
- In order to attract users to virtual land, they must take an incentive to go—the exciting game, exciting content, digital art to look at, the new people to interact with it. And even money to win at in-world games. The more popular developments within Decentraland are:
- Art galleries showcase and sell their digital NFT art, including Cryptokitties and other types of NFT collectibles.
- And the nightclubs, where the players can win MANA.
- Also game sites, such as whac-a-mole
- And, brand-sponsored content, such as the recently announced Atari arcade, features games that can play within Decentraland.
- Music venues where DJs and musicians play music and hold concerts.
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