What is Decentraland (MANA)?
What happens when popular sandbox games like Minecraft, GTA Online, or The Sims Online are combined with cutting-edge blockchain technology? We have Decentraland, a place where everything is decentralized.
Decentraland is more than just a game. For some of the residents, the world is a place where they may do business. With the Ethereum blockchain, plots of rare virtual land can be purchased using non-fungible tokens (NFTs). They can produce content, play games, open virtual shops, and more with their virtual lands if they like.
Neighborhoods (also known as nearby parcels) are high-traffic regions that can generate large advertising earnings and paying visitors who consume content, play games, and purchase goods and services (custom NFTs created by the players).
How does Decentraland work?
There is no central authority in Decentraland. The name is a portmanteau of “decentralized land.” There is no censorship in this virtual environment because landowners can post whatever content or software they choose.
Additionally, content providers can monetize their work by putting adverts or selling their work directly for profit. Property in Decentraland is represented by the LAND token, an ERC-721 non-fungible token acquired on the primary market with the MANA token.
How is MANA distributed?
Crypto token distribution-wise, MANA is one of the most widely dispersed coins available. An initial coin offering sold 40 percent of MANA’s original supply (ICO). Partners and communities who have been supportive of the project since the beginning received 20 percent. In place of direct token transfers, allowances are used to distribute this.
In addition, Decentraland Foundation retained 20 percent for platform development, and the founding team received 20 percent for their hard work.
How much LAND is there in Decentraland?
Ninety thousand LAND pieces comprise Decentraland. Each parcel has a 16 × 16 “meter” surface area. There is no set restriction on the number of parcels of LAND a buyer can purchase (represented by x and y-values on the map).
Owners of Decentraland can engage in one or more of the following:
Objects may be created, textures and audio loaded, user interactions including payment systems encoded, and the scripting language of Decentraland can handle even physics. Somebody could develop a Mars-like landmass with lower gravitational forces, for instance.
As opposed to other NFTs in the crypto realm, LAND has an adjacency attribute. As a result, visitors can observe nearby parcels of LAND. Because of this physical connectivity, neighborhoods and geographically close populations can congregate and even share the same theme or interest.
Advertisement-based virtual reality systems, both open-world and centralized, have already taken advantage of the business model for their gain. Anybody can rent out ad space on their parcel in Decentraland. In high-traffic land parcels, billboards can be used to advertise products and services. It is possible to market any brand, both in the virtual and real economy.
Do you feel confident about the future of MANA?
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