Decentraland is a virtual reality platform powered by the Ethereum blockchain where users can play, explore, and interact with games and activities. Users can also purchase parcels of land (approx. 90,000 are available for sale) on which they can build their own environments, marketplaces, and applications. Decentraland was opened to the public in 2020 (a USD 24m ICO took place in 2017).
Decentraland features a diverse assortment of experiences for participants, such as games, casinos, galleries and concerts and companies increasingly use Decentraland to offer brand-sponsored content.
Today, Decentraland uses three tokens: MANA, LAND and ESTATE. MANA is an ERC-20 token that serves as Decentraland's currency e.g. when purchasing a parcel of land. MANA tokens can also be used to pay for a range of avatars, wearables, names, and more on the Decentraland marketplace and as a voting share for the DAO (decentralized autonomous organization). LAND is an ERC-721 token that represents parcels of digital land and ESTATE is an ERC-721 token that represents merged parcels of digital land.
Decentraland is the earliest pioneer in the metaverse space offering a virtual world in which users can create, experience, and monetize their content and applications.
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