Welcome to Decentraland, Where NFTs Meet a Virtual World

Decentraland is a blockchain-based virtual world and community. Here, users create and own land, artworks, non-fungible tokens (NFT), and participate in the platform’s decentralized autonomous organization (DAO).

Thanks to DAO, the Decentraland community is empowered to participate in project management. Now you can spend cryptocurrency not only on buying real estate, land, or supercars. The usual marketplaces are being replaced by whole virtual worlds in which you can sell goods that do not exist in reality for very real money.

Accurate info on what is Decentraland you can read on https://www.coinspeaker.com/guides/what-is-decentraland-mana/.

What Is Decentraland, and How Does It Work?

Decentraland is a 3D world ruled by a Decentralized Autonomous Organization (DAO) running on Ethereum. Players can explore and create various objects in it: roads, squares, or other objects on the land (LAND), purchased by the MANA token.

Users store tokens in their cryptocurrency wallets and sell them to other users on the Decentraland Marketplace. For example, companies that specialize in the development of PC games can offer residents of the metaverse to test the alpha or beta version of a new game for a symbolic reward of several MANA. In the virtual world, you can purchase various goods: clothes, cryptocurrency, and even virtual cats from the CryptoKitties project.

In addition to trading, players can fill their personal space with games, activities, and artworks that others can interact with. It is also possible to monetize LAND. Each player decides for himself what to do with his land. At the moment, one MANA token costs $0.67. Most of the metaverse is not yet inhabited, which means that users have a real chance to “grab” the best pieces of land for a few pennies.

Does the Virtual World Have a Chance?

Many analysts are confident that in the nearest future the metaverse will get increasingly popular, while the main residents of the virtual universe will be millennials who spend most of their time online.

As the project manager Ari Melich noted: “Modern companies specializing in the development of PC games are releasing hundreds of products designed for virtual reality, which means that soon an influx of users to such metauniverses will begin.”

One of the main advantages of Decentraland is its free browser access. In fact, the user does not need to download and install anything. It is enough to go to the Decentraland website and register — and the doors of the metaverse will be open. Melich himself hopes that in the coming year the number of inhabitants of the virtual world will increase by several hundred thousand users, and the cost of LAND will rise in price by 2-3 times.