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Everything You Need To Know About Decentraland

Decentraland should be among your start points for users interested in virtual blockchain worlds (VBW). This metaverse alt-coin allows players to interact with each other in real-time, purchase virtual digital plots, and enhance their micro-gaming experience. Unlike in the past, when players could lose their countless hours, funds, and other assets on upgrades, Decentraland allows them to play, earn titles, and convert their digital assets to other cryptocurrencies through DEXs.

What Is Decentraland?

Decentraland is a virtual reality economy that allows players and investors to buy virtual LAND using MANA. This virtual real estate platform allows developers and investors to spend or burn their Decentraland (MANA) for LAND. Besides, players can create micro-worlds comprising movie theatres, digital skyscrapers, and other things found in the physical world. This virtual reality platform uses an ERC20 cryptocurrency token known as MANA, allowing players to exchange Decentraland’s fungible for LAND parcels in the decentralized virtual world.

Who Created Decentraland?

Ariel Meilich and Esteban Ordano remain the known co-founders of Decentraland. Esteban Ordano, the Smart Contract Solutions co-founder, brought his cryptocurrency experience that played a major role in founding Decentraland. Meilich also brought his entrepreneurial experience in founding startups and providing insightful analysis at Venture fund to the project. Although both have stepped down from the major role, they remain relevant advisors.

When was Decentraland launched?

The team behind Decentraland began this project in early 2015 by proving the viability of allocating digital real estate ownership on the Ethereum (ETH) blockchain network. However, the project was officially launched in 2017. Decentraland’s 24million USD initial coin offering (ICO) of 2017 proceeded with the token’s 2020 official opening to the public.

How Does Decentraland Work?

The Ethereum blockchain allows gamers to leverage the functionality and security of the platform to improve their gaming experience. Its digital landscape allows users to create games and interact with each other. Users buy LAND from Decentraland using decentralized cryptocurrency known as MANA. This cryptocurrency remains the main currency in this virtual world. Designers often hold their MANA tokens in their Ethereum wallets to build interactions and animations. The marketplace allows them to trade avatars, LAND, and estates. They can easily track LAND ownership through the Ethereum blockchain.

How To Keep Your Decentraland Safe?

Users protect their Decentraland MANA in an extensive decentralized network of miners, guaranteeing protection from attacks. The network of miners works together with thousands of nodes to protect MANA tokens.

Is Decentraland A Good Investment?

Investing in Decentraland should be done with great caution, mainly because the world is in the early stages of developing into a metaverse. However, Decentraland is among the largest gaming cryptos that have gained financially recently. Investors planning to get this metaverse token must consider various risks. Fortunately, with more tech companies venturing into the Metaverse field, Decentraland may become highly profitable. According to CNBC, the Metaverse Real Estate Prices Rose between 400% and 500% recently and are expected to rise in 2022. However, investing in digital real estate could be highly risky because crypto is highly volatile and speculative. Besides, the LAND in Decentraland is blockchain-based. Therefore, every investor needs to conduct an independent market assessment before making any financial move.

Find out more about Decentraland.

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