Decentraland is a virtual world based on Ethereum, also known as Metaverse, owned by users and managed through a non-centralized autonomous organization (DAO). The Game Began AS A Simple 2D Experience in 2016 and has since grown into a fully customizable 3D environment with land, art, activities, and much more. Since then, there have been many experiences created on the plots of each user. In this virtual world, users can buy lands that can later delight in creativity and build anything they want when they have owned them. Besides, they can also participate in other entertainment activities such as going to the casino, attending workshops, watching music, shopping with friends, visiting the resort, driving, starting a business, and many other good things. Users like to get into another world they create only with a virtual reality headset and web browser. They will immerse themselves in their 360-degree virtual world.
The cases of using Decentraland
Decentraland's engineers saw the foundation's potential for new use cases in Blockchain-based communities from the start. Here are five main use cases:
- Application: Users can create 3D applications and scenes in Decentraland's scripting language, bringing richer interactions.
- Content management: Neighborhoods have developed in Decentraland, attracting fans and natural community development.
- Advertising: Players in the surrounding areas have led to advertising brands buying space and billboards.
- Digital collection: NFT items are collected, created, and traded on the Decentraland market and granted to users of ownership.
- Society: Communities on social media platforms or even offline groups can experience more interaction with their friends.
Token Land, Mana, and Estate of Decentraland
Decentraland has three main tokens:
- LAND, the ERC-721 token representing digital plots;
- ESTATE, the ERC-721 token representing the unified digital plots; and
- MANA, the ERC-20 token, acts as Decentraland's currency unit.
LAND and ESTATE
LAND is a non-fungible digital asset maintained in an Ethereum smart contract. It’s separated into parcels using cartesian coordinates to identify them (x,y). Each LAND token has information about its location, owner, and a link to a content description file or parcel manifest that explains and encodes the material the owner wants to deliver on their land. These parcels are permanently owned by community members and are purchased using MANA. That allows users complete control over the surroundings and programs they design, ranging from simple 3D scenarios to highly involved apps and games.
An estate is a non-fungible digital asset, similar to LAND. An estate is a grouping of two or more LAND lots that are physically contiguous. These parcels must be next to each other and cannot be divided by a road, plaza, or other property. You may better manage your bigger LAND holdings by joining parcels to establish Estates. When creating bigger settings that span many parcels, estates come in handy.
Currently, there are 90,601 plots of land in the game, each represented by an NFT. That has been a big selling point for Decentraland since it allows you to become a virtual real-estate magnate by purchasing low-cost land NFTs and reselling them for a profit. You can also freely create a digital environment and the application, for example, creating a game or adding artwork. Some electronic money companies, such as Rarible, Makerdao, SuperRare, and many other companies, have even created virtual offices and art galleries in Decentraland. Decentraland also held a series of virtual conferences.
MANA is Decentraland’s fungible ERC20 cryptocurrency token. In return for LAND plots, MANA is burned or spent. To ensure that the value of LAND parcels remains stable, the amount of land in Decentraland corresponds to the fixed total amount of MANA. Many parcels would undoubtedly be abandoned if LAND scarcity did not exist, significantly harming the quality of content in Decentraland and the user experience.
Decentraland development team
Decentraland was co-founded by Ariel Meilich and Esteban Ordano - both of whom have resigned from essential locations at the project but still work with Decentraland as advisers.
Besides that, the core team includes:
- Ari Meilich — Project Lead (Co-Founder): Ariel Meilich was previously the lead director in Decentraland from 2017 to 2020 and is a serial entrepreneur who has established a number of other startups, including an online translation agent and a background CRM. He was also an analyst at Charles River Ventures, a famous venture capital fund in Silicon Valley.
- Esteban Ordano — Technical Lead (Co-Founder): He has a long history and diversity in the electronic money space, worked as a software engineer at BitPay, Inc., advisor to Matic Network, and executive for a short time. His own smart contract is called a Smart Contract Solution. Esteban is also recognized as the co-founder of Zeppelin Solutions, a Blockchain technology infrastructure company established.
Mana Token Information and News
According to CoinMarketCap, 1.84 billion Decentraland tokens are in circulation as of March 25, 2022, with 40% of the MANA supply sold during the 2017 ICO. A further 20% was set aside to reward the community, 20% was given to the development team and other early contributors, and Decentraland kept the remaining 20%.
Decentraland is collaborating with Matic (Polygon) to establish a sidechain that will enable transactions to move quicker and with lower costs. Decentraland, on the other hand, recommends that consumers utilize a safer Ethereum string for more important transactions.
Decentraland has added new capabilities to its base since the beginning of 2022, such as my store' where content producers may " manage their assets, collect and stool Statistics and data for their items over time."
According to research sites and electronic money data, the Decentraland project was ranked "very good" on February 28, 2022.
On February 14th, 2022, Samsung 837X announced a Decentraland mission to "Turn Red Hearts Green this Valentine's Day" with a sustainability theme.
Decentraland is a distributed virtual world platform that allows developers to create and commercialize apps on top of it. Because there is a shortage of space in which apps may be constructed, hubs emerge that catch user attention and provide cash for content creators. In the virtual world, MANA tokens will be used to buy land, products, and services. MANA tokens will also be utilized to incentivize content production and user adoption, resulting in the first decentralized virtual world being launched. On February 14th, 2022, Samsung 837X announced a Decentraland mission to "Turn Red Hearts Green this Valentine's Day" with a sustainability theme.
Read more about Decentraland in the article "Introduction to Decentraland (part 2)"
 Decentraland white paper, decentraland.org, accessed April 14th, 2022.
 Decentraland: Peek Into The Metaverse, eattheblocks.com, accessed April 14th, 2022.
 Decentraland (MANA) price prediction: will the token rebound?, apital.com, accessed April 14th, 2022.