Decentraland is a virtual world that’s owned by its users. People are paying thousands of dollars in cryptocurrency for the chance to create a new virtual life online and maybe even make a profit. Decentraland is a platform where users can build anything they can imagine on plots of virtual land. The virtual world was set up by Argentinean developers and its first city is made up of 90,000 parcels of land 10 meters squared. The largest ever sale of virtual land took place in Decentraland, with people paying over 28 million dollars for plots.
In Decentraland, people can socialize and interact with each other just like on Facebook, but with the added benefits of a virtual reality experience. People can visit each other’s virtual homes, have virtual tea, and more.
The record price for a square of virtual land is $180,000, with some plots being listed for resale for over a million dollars. Purchases in Decentraland are made using a cryptocurrency called Mana.
However, the amount of money people are investing doesn’t necessarily mean the world will be a success. What matters is if it will be a good game that people will want to play. There are plans to build themed neighborhoods like Festival Land, Vegas City, and even a university. The city will be built by virtual artists and the creators are giving a sneak peek of what the city will look like when it launches.
Decentraland offers an exciting opportunity for people to experience a new virtual reality world. While it is a risky investment, it could potentially be a virtual paradise for those who are willing to take the risk.
To summarize, Decentraland is a decentralized virtual reality platform where users can buy and sell virtual goods and experiences using the platform’s own cryptocurrency, Mana. The platform faces the risk of trolling and griefing, but the community will set up filters to mitigate this issue. The platform currently has an economy of tens of millions of dollars and hopes to expand to billions. The platform also plans to host virtual art galleries, but investment in cryptocurrency-based platforms like Decentraland is volatile and carries a risk of losing value. It is recommended to approach investments in Decentraland with caution and think of it more like a Kickstarter, where you are supporting an idea rather than buying a product.