For us regular folks land in the real world might be enough but for crypto enthusiasts, there is no limit to their madness. We are aware that right now two realities exist; one is the real world whereas the other one is digital. And if you have seen Black Mirror, I fear that is what our world is gradually turning into.
So bitcoin hit its ten-year mark which meant that everyone was waiting for something spectacular to happen to the blockchain. And, blockchain came up with this to wow everyone.
Let’s talk about Decentraland, a VR blockchain powered platform that sells digital ownership of virtual real estate built with ERC20 token. They are currently handling thousands of transactions for hundreds of users. Although, it is still afresh and in its early stage, once this beast is out in the open, it can disrupt the 2.5 billion gaming industry.
You ask how? Well, Decentraland is a virtual reality game that allows people to experience it from the comfort of their homes. You can purchase, build, customize digital lands and interact with friends while you are on the platform. Like a much cooler version of Minecraft. Or or, a crossover of Minecraft and Sims, except that you are the Sim yourself in the game.
The blockchain provides you with true digital ownership with auditioning, smart contract creation and private key holdings without the need of any middle-man. How cool is that?!
Through crowdfunding, it was able to raise $30 million to bring the platform to life and now users are using their real estate with their native token LAND or MANA. MANA can be bought on Binance. Apart from buying LAND, you can also spend MANA on virtual casinos, watch a movie at any of the cinemas or track stocks in a wall street themed virtual office of yours. The opportunities seem endless!
Traditional digital worlds VS Virtual reality worlds
Purchasing of digital worlds has been around for some time now, Planet Calypso from Entropia was sold for $6 million in 2011 and Club Neverdie from Entropia was sold for $635,000. But with Entropia, the company owns your land and not you.
However, when it comes to the real world, you are the owner in every sense of the word. You have the keys, contract, rights and ownership, everything to your name. And this was something that was not possible in the virtual worlds before.
Decentraland gives you that real-world experience along with ownership, all hail the blockchain technology. Plus, how can we forget about MANA, a token that can be liquidated easily using an exchange? The most expensive piece of land sold in the Decentrlands marketplace went for $175,000 in September 2018.
We sure see a lot of potential and if you can’t afford to buy land in the real world, a virtual world might work equally good. An asset is an asset, whether it exists in digitally or physically.