“Decentraland” is a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications.”
Now if we try to conceive Decentraland in a more simple way , we’d say that it’s like the popular game “Sims“, designed for professionals and with a more dynamic 3D imagery. The fun part is that Decentraland went the extra mile and made all kinds of land management and creation possible “your imagination is the limit” ! Just grab a VR headset or use your web browser to become completely immersed in a 3D, interactive world and let your imagination drive you.
This whole concept might be a little bewildering but if we look at the numbers of lands sold in less than 4 months, we will help to think that we’re in one of the biggest decentralized wealth transfer in history !! with about 70,399 Parcels of land sold, and 161,483,050 MANA; an ERC20 token that can be burned to claim LAND.
From AETHERIAN project, Vegas City, Dragon City to other huge districts in Decentraland that are growing exponentially, thousands of investors, artists, developers, and community leaders are turning to Decentraland for investment.
Once people own land, Decentraland enables these users or more properly “residents” to create unique experiences within its virtual dimensions: People can go to casinos, watch live music concerts, attend workshops, shop with friends, start their own business, drive cars, visit an underwater resort or a museum, all within a 360-degree, virtual world.
Now you would probably wonder who’s behind this genius creation !
That would be a brilliant team with a prominent experience in creating both Bitcore and Streamium. The project lead is Ari Meilich, while the technical lead is Esteban Ordano. The Advisory Board includes INBlockchain founder Xiaolai Li, CoinFund founder Jake Brukhman, Aragon project lead Luis Cuende, and ex-CTO of Ning, Diego Doval. Decentraland also partners with district0x, Aragon, and imToken.
It all started with the vision that public virtual worlds need to be ruled with open standards, in a way that no central organization imposes their agenda ,unlike existing VR platforms and that’s when Decentraland kicks in.
In other words, when users purchase MANA through a smart contract, they will directly contribute to the development and growth of not only the economy, but the ecosystem: In fact all proceeds collected from token sales will eventually be managed by a DAO, which will will help improve the chances of success of any project, by capturing the value that would otherwise be spent on mining equipment and electricity.
However, even virtual dimensions have limits and since the Decentraland world is continually expanding, further creation of MANA is needed to accommodate new users.
In order to do that, the Decentraland team managed to follow a simple continuous issuance model, at a price that can be modified by the DAO allowing Decentraland to expand!
Decentraland is indeed a parallel universe , and it’s here to stay!