Decentraland is the “first fully decentralized world” as they say on their website. One way I like to think of this place is like virtual reality meets The Sims meets Minecraft. The big difference between Decentraland and those games is that in Decentraland you can make money, at least that’s the hope.
In Decentraland you’ll find that there is a Marketpalce where you can buy three main things:Wearables (for your Avatar) LAND Names
All of these things can be bought using the virtual world’s cryptocurrency, MANA.
The biggest attraction to Decentraland at the moment is the LAND. LAND can be purchased and sold for a profit much like in the real world. LAND in Decentraland also mimics land in the real world in the sense that they’re no longer making anymore of it. This creates a sense of scarcity, which in theory should make the value of LAND increase as time passes.
But in order for the value of LAND to increase exponentially, there needs to be a real use for this digital LAND, or DigiLAND as my girlfriend likes to call it.Will Decentraland Catch On and Become Useful in the Future?
With Decentraland still being at a very early stage, there is definitely lots of room for growth. The team that created Decentraland started working on the project back in 2015, and the virtual world was launched in 2017.
With only 3–4 years since the launch date, we’ve already seen LAND prices explode. At the time of writing this, the cheapest parcel of LAND on the marketplace is 5,000 MANA tokens, that’s a little more that $5000 USD. Compare that to the price of LAND at launch which was in the $100’s USD. Not a bad return.
But what can you do on this LAND that would be useful? This is the question that needs to be asked.
It seems pretty natural to me that something like Decentraland would be the next evolutionary step in the online social experience. With millions of people interacting over social me...