Historically Decentraland is one of the oldest metaverse-themed crypto projects, it launched in public release in early 2020, but has been in development since 2015. Which makes it one of the “old” in the game. . The idea is to allow players to buy a piece of land that they can use later. There were 90,601 on the original map to be precise.
To get an idea, during the beta version (2017) the plot was worth $20, today it is sold in the millions. We are still talking about a crypto that has been in the Top 50 for quite a long time, it is part of the landscape.https://www.youtube.com/embed/-HmXrOTEmxg?feature=oembed
It is based on the Ethereum blockchain (in 2015/2016 it was somewhat the only valid option) and is played via a web browser. I read that they were thinking of migrating to Polygon, blockchain layer 2 which is based on Ethereum with lower transaction fees, but I admit I don’t know where it is. The project is constantly evolving and has already added new possibilities to become a complete decentralized 3D virtual world, for example it has long integrated NFT technology (see below). Metavers, NFT, GameFi… you have all the buzzwords of the moment, but the project was there before they existed 😉
The MANA token
If at the beginning Decentraland had only one token, the $MANA, it has since added a second to its offer, the $LAND.
The $MANA is the utility token that primarily allows you to carry out all your transactions on the platform: buy/sell your land or objects (via the marketplace ), speculate, etc. It also allows you to obtain a right to vote in the governance of the project, therefore to express your opinion on future developments. The fairly classic token you know.
The $LAND , for its part, is a token in the form of an NFT which validates that you are indeed the holder of a plot. The proof of ownership of the land on your blockchain address in short. When a plot is auctioned, the $MANA needed to buy it is burned, making it a deflationary token.
It’s up to you to see what you do next, either keep your tokens on the platform or online marketplaces, or store them on Metamask or, better, on a hardware wallet (Ledger, Trezor, etc.). As usual, I recommend these if you are looking for the long term.
Why is Decentraland an interesting project?
Decentraland players can perform many actions such as buying or selling plots of land, exploring new areas, communicating with other players, customizing their avatar, participating in games, making payments, interacting with applications, trading NFTs , etc. In short, the solutions are multiple.
And not only for individuals like you and me, also (and above all?) for companies and personalities who want to be talked about or offer different experiences to their customers/fans. Many well-known names have established themselves there, for example Samsung, Atari, Dolce & Gabbana, Adidas. Or Sotheby’s, which now holds virtual auctions there, and Barbados (the country) which opened the world’s first virtual embassy there. You can’t stop progress my good lady.
Developers will also be able to find what they are looking for since it is possible to offer virtual experiences (visual, audio, etc.), animations, etc. and this for free. But don’t panic for non-dev people, it is still possible to do things thanks to an editing tool offered by the company.
Among the expected novelties, they will soon offer a desktop client and royalties for content creators. If you are gifted…
On the other hand, you have to like the graphic style, a bit like Minecraft. Although it gets better over time; compared to Sandbox we are still a notch below I think. Ditto in terms of activity and number of players, I tested the game a few months ago and it was a bit of a desert.