- Category: Metaverse
- Coin Launched: April, 2015
- Resources: White Paper
- Official Website: Decentraland
- Reddit: Decentraland
Decentraland is a decentralized VR (virtual reality) world that is powered by the Ethereum block chain. In this virtual world, you can purchase land, build it, monetize, and immerse into the applications and content that is built by other users.
What distinguishes Decentraland from other VR projects is its decentralized nature. Land and in-game currency are powered by the Ethereum block chain which give users complete ownership and promotes transparency.
DECENTRALAND History / Information / Buying / Staking
In Dec. 2017, the first LAND tokens representing parcels in the first part of the game, Genesis City, were auctioned off. In March 2018, the Decentraland Marketplace was released allowing users to buy and sell parcels (LAND) in Genesis City as well as explore the area on a map. As of May 2018, the platform was still under development. The team plans to roll out access to the Decentraland world through a variety of devices including mobile, web and virtual reality (VR) platforms.
HOW DECENTRALAND WORKS
Decentraland is a virtual reality platform powered by the Ethereum blockchain where users can create, experience, and monetize content and applications. It is an open-source initiative to build a decentralized virtual reality. It uses blockchain technology to claim and transfer land, keeping a permanent record of ownership.
BENEFITS OF USING DECENTRALAND
Some of the benefits of using Decentraland are:
Users can monetize their land and turn it into an income-producing investment, just like physical property.
Enormous customization options for LAND parcels that allow users to build to their heart’s content.
DIGITAL REAL ESTATE
It offers digital real estate that is a decentralized and affordable alternative to the increasingly expensive world of physical real estate.
CAN YOU STAKE DECENTRALAND
Decentraland is the project behind the MANA token and it is one of the top crypto projects in the metaverse category. MANA is a proof of work token, and technically, you can’t stake MANA. However, there are a few popular lending platforms that let you lend MANA and earn significant APY on your MANA holding.
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