top of page
WebbPro (3).png

WebbPro.Design

Looking for a partner in

digital ? 

1.png
transparnet.png

By

Digital Marketing Manchester

'Professionals Review' from WebbPro.Design is our new, exciting blog that covers all the latest trends and insights in news, business, digital marketing, tech, lifestyle, and more. Written by industry experts and professionals, our blog is the ultimate source of insider knowledge and expert advice. Whether you're looking to upskill, stay ahead of the curve, or simply explore new horizons, Professionals Review has got you covered.

Search

Decentraland - Test the limits of your imagination

To join the action where we discover gems, review their potential, and share our knowledge head over to our community group on telegram!

Join our telegram here: https://t.me/ProReviewGems


Real estate is where the money is, not only in the real world but now in the virtual world. Thousands of plots of virtual land are up for grabs & are selling like wildfire daily, some are selling for millions of dollars. The Virtual boom is because of NFT's that give ownership of immutable property, (property that can't be changed).


Could virtual real estate become larger than real-world real estate? Some people believe so!


The current No 1 in this space is Decentraland & their token ($MANA) has recently been on a crazy run. Let's take a look at why & what it offers.


What is it?


Decentraland is a community-owned virtual world that leverages the ETH blockchain, it consists of 90,000 parcels of land measured by 52ft x 52ft. Each parcel exists as a (None-Fungible Token) NFT land token. None Fungible means each one is unique because each one is characterized by its location on the Decentraland map & each piece of land can be customized using their builder. Have you ever played Sims? It's similar in the respect that it's easy to do and requires no prior knowledge to use it. (We love this, simplifying processes will encourage more people to give it a try & will ultimately help with mass adoption)


Some land is used as roads, these cannot be bought or sold & can be seen in grey. The 9 green areas on the map are plazas & are owned by the Decentraland community, each one has its own theme & the one in the centre is called The Genesis Plaza where all players spawn. The dark blue areas are districts but are owned by a private company or organization. All of the land in grey is owned & not for sale. The land in light blue is for sale, either as a single parcel or as an estate (so, one square or four squares etc) the closer a piece of land is to a district or the Genesis Plaza the more expensive it will be. Owning land gives the user ownership & full control over the environment and applications they create within their land.


Not only can you buy land, but you can also buy wearable items & names for your in-game avatars. They also exist as NFTs on the Ethereum Blockchain & all items purchased are doing so using the native $MANA token which is also the in-game currency for Decentraland.


Something to note is the ease of use. All you need is a web browser & metamask. You don't need any cryptocurrency unless you intend to buy anything within the game.


Decentraland Map


The MANA token

The maximum supply of MANA is fixed at 2,644,403,343 MANA. So as time goes on each token will become more and more valuable as more people join the virtual world. In my opinion, virtual worlds are only going to grow. Increased growth of virtual asset trades to greater use of virtual worlds as a medium for socialising, over time virtual worlds will evolve well beyond their gaming roots. Like it or not, virtual worlds will increasingly function as centres of commerce, trade, and business. Interest spiked? I thought so.


Holders of the MANA token can vote on any changes to Decentraland like token economics, content moderation & the building height limit of land parcels (This sounds very similar to planning permission in the real world). Furthermore, landlords also have the voting power of 2000 votes per land token they hold. This democratic voting system is impressive & is one of the reasons why I think Decentraland will evolve very quickly for the better with the input from the community. This gives people a voice & opportunity to be involved in something bigger than just themselves.



When did it launch?


Although it has been worked on since 2015, it wasn't until February 2020 when it was fully launched.


Unlike other virtual worlds such as Second Life, it's not controlled by a centralized organization or company, so there will be no censorship & rather than being held by the developers, each spent MANA token is burned, to ensure complete decentralization. So no single agent has the power to modify the rules of the software, curate LAND content, modify the economics of MANA, upgrade LAND smart contracts or prevent others from accessing the world. Although it is run on the Ethereum blockchain, Decentraland's virtual world itself is run by community-owned content servers.


What is it for?


Have you ever seen the film Ready Player One? If not then why the hell not!? You should go and watch it now :) Well assuming you've seen the film or read the book it's similar to this concept, a virtual world that has endless possibilities, do what you want, be who you want, play games, own your own business, own your own land, wear what you want, make money within the game and the list goes on.

Landowners can use their purchased plot as an investment to sell on, or build their very own experiences. From giant mansions to magical forests, the only limits are the creator's imagination and space. With the creative possibilities purely down to the users, I can foresee Decentraland beating what Wold of Warcraft managed to do, the game had over one hundred million registered accounts by 2014 and by 2017, had grossed over $9.23 billion in revenue. Decentraland's economy is worth around $20 million. As you can see the room for growth purely from a numbers point of view its staggering, yes you're still early!


Announcments


  • They announced a partnership with Atari the creator of Pacman to create a crypto casino. The Atari-branded casino will be built in a gaming district within Decentraland's metaverse & will be loaned out Decentraland for 2 years.

  • Teamed up with Binance to help fight the pandemic by selling wearable virtual facemarks in Decentraland.


  • In May 2020 Launched it's content creator program alongside new features such as friends requests, lists, teleportation & an in-game friends chat.


  • In June they partnered with MATIC to build in-game mini-games which allow their virtual casino games to work using MANA or DAI.

  • They also created a virtual soccer tournament that had NFT prizes back by real gold, yes the winning the top NFT prize could be traded in for real gold in the real world.

  • In September they introduced Smart Items that opened the door to many new ideas/use cases such as concerts & external images. They even held their first virtual concert in December! For me this is huge, the ability to attend a live concert in a virtual world has so much potential & will draw new people to the virtual world.

Conclusion


It’s impossible to say what the future will hold, let alone a brand-new virtual world run and owned by its inhabitants. As it stands today, Decentraland could simply turn out to be an interesting experiment or on the other hand it could pave the way to a new paradigm shift. I believe the latter.


I believe Decentraland is only going to get bigger and better especially if they consider bridging to other virtual worlds as the rumor has it. There doesn't need to be a winner takes all, each virtual world offers something different & should look to coexist with one another rather than compete. This will help grow the virtual space & will encourage collaborative working to better the area as a whole.


That was my brief intro to Decentraland, I hope you enjoyed it & it's given you a good description as to why this could be gigantic in the years to come.


To join the action where we discover gems, review their potential, and share our knowledge head over to our community group on telegram!

Join our telegram here: https://t.me/ProReviewGems


Useful links:


Comments


bottom of page