Decentraland: Here’s All You Need To Know About The Digital Real Estate World
Decentraland is similar to virtual reality video games, but is more immersive and real
Imagine a virtual world where people are living an alternate version of themselves. They are buying digital clothes and acquiring digital art in the form of non-fungible tokens (NFTs), using cryptocurrencies as a legitimate form of money. That's what Decentraland, a virtual real estate platform, is all about. It's an Ethereum-based 3D virtual world or metaverse where you can buy or sell land and use it to create your own settings, marketplaces, and applications. The three native tokens of Decentraland — MANA, LAND, and Estate — each serve a distinct purpose in the Decentraland economy. It was opened to the public in January 2020.
The virtual world in Decentraland can be accessed through an avatar, with whom you can explore the metaverse's ever-growing network of digital destinations. Digital tokens are required to participate in activities such as purchasing digital art at the Crypto Valley Art Gallery, trading with other metaverse regulars in Bartertown, or learning at Decentraland University. Also, buyers are free to build anything they wish on their plots.
However, Decentraland's tokens, unlike the gold coins found in Mario or World of Warcraft, are programmed to facilitate worth and transferability as real-world assets.
Simply put, Decentraland is similar to virtual reality video games, but it is more immersive and real because it owns assets. Everything that is available in the actual world can be found here, from digital skyscrapers and rapid transportation systems to movie theatres and hotels.
A number of big names have shown interest and investing in this digital real estate.
JPMorgan, the largest bank in the US, said that it had
Read more on ndtv.com
