We prepared a new review on Decentraland for you, which we’ve been hearing a lot about recently in the crypto money world. In this overview, we’ll discuss what Decentraland is, what MANA does and what is LAND in this virtual world; you’ll get a basic understanding of the Decentraland ecology.
What exactly is Decentraland?
Decentraland may be simply described as a decentralized virtual reality platform that is powered by the Ethereum blockchain. Within the Decentraland platform, users may develop, enjoy, and monetize their own content and apps.
Decentraland, a platform where users may not only create content and apps but also make money from them, is a 3D dynamic environment that can be accessed by a virtual reality device or a standard web browser. The land available for purchase in Decentraland is quite restricted. On these areas, where each spot is 33 × 33 feet, there is no limit to the height you can build.
What exactly is MANA?
MANA is the Decentraland ecosystem’s ERC20 coin. You may use this token, which is available for purchase and sale on exchanges including as Binance, OKEx, and Huobi, to purchase land in the Decentraland universe, as well as other products and services. The MANAs that were utilized to acquire the territories known as LAND are destroyed and cannot be used again.
What exactly is LAND?
LAND is a term that refers to non-recoverable digital assets that are kept in an Ethereum smart contract. LAND, which translates as land in Turkish, is separated into referred tiles using unique cartesian x and y coordinates. Each LAND token contains information about the land’s location, owner, and a link to a content description file that identifies and encodes the material the land’s owner wishes to send. In other words, the LAND tokens are land tokens produced by smart contracts for the purpose of acquiring land.
What Does Having a Virtual LAND Mean? How Does LAND Function?
Purchasing a LAND in the Decentraland ecosystem is comparable to purchasing other unique crypto assets like as CryptoKitties or CryptoPunks. Alternatively, you may develop three-dimensional environments and apps using your LANDs. The LAND token adheres to the ERC721 standard, which enables these digital assets to be traded with other users. Additionally, you may upload and share 3D models created using 3D modeling software such as SketchUp, Blender, or MAYA to Decentraland.
Decentraland, in my opinion, is an excellent example of what blockchain technology can do. Decentraland creates a virtual environment and sells the lands inside it without commercial motives, allowing people to utilize the lands anyway they desire. While the world’s decentralization instills a sense of confidence, the opportunity for users to import their own 3D models allows tremendous freedom. I applaud Decentraland for exhibiting the potential of blockchain technology in the gaming and entertainment industries. If Decentraland is successful in attracting the desired number of people, it appears as though it will build a lovely world through the land and 3d model marketplaces it will generate. Decentraland, I believe, will have a sizable market share among cryptocurrencies if it can cultivate a passionate, though not massive, following.