|Market Cap||$1.58 B|
Decentraland is a free-to-play virtual reality platform powered by the Ethereum blockchain using the MANA token. Users can create, experience, and monetize content and applications. Land in Decentralands is permanently owned by the community, giving them complete control over their creations.
The game world of Decentraland is divided into 90.000 units of LAND, which were purchased when they were auctioned off at launch. However, it can be bought and sold in the marketplace. Users can claim ownership of virtual land on a blockchain-based ledger of parcels. When users purchase LAND, they purchase an NFT that goes directly to their cryptocurrency wallet. This token grants the user ownership of their LAND parcel, which is like a deed. LAND is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract. It can be acquired by spending an ERC20 token called MANA. MANA can also be used to make in-world purchases of digital goods and services.
Landowners control what content is published on their portion of land. Contents can range from static 3D scenes, videos, images to interactive systems such as games. Users and companies can host events like parties, casino nights, virtual gallery launches, and game tournaments. Once a player owns a parcel of LAND in Decentraland, they can become a builder, adding scenes or entire environments to the LAND. No coding is necessary since Decentraland comes with a large pool of pre-built scenes applicable to any LAND.
Another unique feature of Decentraland is that it is a peer-to-peer (P2P) and scalable platform that uses multiple servers, making it the perfect solution for enterprise use. Companies that want to simulate real-world communication dynamics in virtual space have access to in-game advertising, property allocation, monetizing, and more when they use Decentraland.
When players enter Decentraland, they can fully customize their avatars. There are hundreds of free outfits to choose from, or players can choose to spend some MANA to purchase unique clothing items and create an avatar with its own personality. Each avatar has a Decentraland passport, which connects to an Ethereum compatible wallet where all the player's MANA and items are recorded.
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