What is Decentraland?
Decentraland is a decentralized virtual reality game based on the Ethereum Blockchain where users can create, experience, and monetize their content and applications.
Decentraland provides the infrastructure for the Metaverse virtual world, including
A distributed ledger for land ownership
1 protocol to describe the content of each land parcel
1 peer-to-peer network for user interactions
Regarding the Metaverse, specifically, this is a virtual space created from the Internet and augmented reality tools to provide the most realistic experience for players.
In the Decentraland platform, which can run on a browser or desktop application, users and features can also connect and participate in a variety of daily events organized by the community.
Decentraland differs in that it allows users to own, create, decide new things, and manage the platform through Decentraland's decentralized autonomous organization (DAO), where users can submit proposals and vote, and even apply for funding that the community will vote on.
Land in Decentraland is owned by the community, managed through blockchain. Each land is an NFT, transferable, stored in an Ethereum smart contract.
Users need to burn MANA tokens to own land for themselves, and MANA can also be used to purchase digital goods and services in the virtual world.
The formation and development process of Decentraland
Decentraland describes a uniquely novel formation and development process divided into historical stages corresponding to the historical periods of the real world. They consist of 4 stages:
Phase 1: Stone Age (2015)
Decentraland began as proof of the distribution of ownership rights of digital real estate to users on the blockchain. This digital real estate was initially deployed as a pixel on an infinite 2D grid, where each pixel contained information about its owner and described the color of that pixel.
Phase 2: Bronze Age (2016)
By the end of 2016, the team began developing Decentraland's Copper Age – a 3D virtual world divided into parcels. The owner of each parcel can link to a file through a hash reference on a modified Bitcoin blockchain.
Users can download the file containing the contents of the parcel using a Distributed Hash Table (DHT) and BitTorrent from this reference, defining models and textures to be displayed at that location in the virtual world.
Phase 3: Iron Age (2017)
Decentraland held its first world exhibition at decentraland.org/world. Anyone can participate by running a node, downloading and verifying the blockchain, and exploring the world according to specific guidelines.
The Iron Age brings new social and economic experiences based on land ownership and content distribution. In the Iron Age, developers can create applications, distribute them, and monetize them on Decentraland.
Phase 4: Silicon Age (2018)
At the beginning of 2018, Decentraland became a fully immersive VR world and entered the Silicon era.
Users can shop, watch live music shows, attend seminars, hang out with friends, start businesses, test drive cars, stay at resorts, and more — all within Decentraland.
1 some other information
Land in Decentraland is owned by the community, managed through blockchain. Each land is an NFT, transferable, stored in an Ethereum smart contract.
Users need to burn MANA tokens to own land for themselves, and MANA can also be used to purchase digital goods and services in the virtual world.
Decentraland also has a Marketplace, where users can buy and sell in-game items: market.decentraland.org.
Use cases
Application: The programming language of Decentraland allows for the development of applications, games, gambling, and dynamic 3D scenes, with the ability to handle multiple features such as object creation, image loading, physics processing, and payments.
Content Management: Users will focus on areas of common interest, located near high traffic centers to attract users to their content.
Advertising: Brands can advertise using billboards near or in high traffic areas, as well as create shareable experiences to interact with their target audience.
Digital Assets: Users can publish, distribute, and collect rare digital assets on the blockchain, and trade them in Decentraland.
Other use cases: There are no restrictions on building in Decentraland, with other use cases potentially arising such as training, education, therapy, and virtual tourism.
Economic model
1.Land and MANA token
Land: is NFT in the virtual world of Decentraland
MANA: is an ERC-20 token used to buy LAND or burn at a rate (1000 MANA = 1 LAND) to acquire the first parcels of Decentraland and services in the virtual world.
2.Network Development
To kickstart the network, developers and content creators will be rewarded for setting up shops in Decentraland. The fund will hold competitions to create art, games, applications, and experiences, with prizes depending on achieving a series of milestones.
At the same time, new users will be allocated a grant portion, allowing them to participate in the economy immediately. These financial incentives will help stimulate the development of the system.
In summary: It is the FB player community using Mana as a currency for trading!
It will not explode but it will increase steadily in this cycle
$MANA deserves to be considered for long-term investment wallets!
