We are in the middle of #MetaverseWeek, so let’s celebrate it with the listing of a real gem of this trend. Decentraland can easily be called one of the most popular and interesting play-to-earn projects. What is worth noting, LAND prices (land in the Decetraland metaverse) reached over 3.5 million dollars in 2021.
History of Decentraland
Decentraland began as a proof-of-concept for assigning ownership of digital property to users of a blockchain. This digital property was originally implemented as pixels in an infinite 2D grid, with each pixel containing metadata that identified the owner and described its color. The experiment was titled “Stone Age of Decentralization”
In late 2016, the team developed Bronze Age, a 3D virtual world that was divided into parcels. The owner of each parcel could link it to a hash reference to a file that used a modified Bitcoin blockchain.
The next version of Decentraland, the Iron Age, created a social experience with an economy driven by current levels of land ownership. In the Iron Age, developers are able to create, distribute and sell applications to other users through Decentraland.
How does Decentraland and MANA work?
Decentraland is described as a virtual reality platform (VR) powered by MANA, an ERC-20 type token used as the system’s native currency. Members of the Decentraland community can use MANA to purchase LAND, which is a virtual property of the VR platform that represents Decentraland. LAND is a non-fungible ERC-721 token, better known as NFT.
Utilities of Decentraland
The Decentraland scripting language enables the development of applications, games and dynamic 3D scenes. Language is designed for a variety of functions, including object creation, texture loading, physics handling, user interaction coding, sounds and payments.
Brands can advertise near or in high-traffic fleets to promote their products, services, and events. Some neighborhoods can become virtual versions of Times Square in New York City. Brands can also position products and create shared experiences to connect with their target audiences.
Users can publish, distribute and collect rare items issued by their creators on the blockchain. As in other virtual worlds, NFTs are traded through a special scheme in the world of Decentraland.
Groups using online forums, chats, or other centralized multiplayer games can transfer their communities to Decentraland.
From today you have the opportunity to trade MANA tokens on our exchange in pair with Tether.
Read more about #MetaverseWeek in our latest article: https://kanga.exchange/gala-on-kanga-exchange