Decentraland, The Leading NFT 3D World
Are you eager to know about what Decentraland Metaverse is?
Decentraland is an Ethereum-based 3 Dimensional virtual platform, basically, a Metaverse where you can buy or sell lands/plots. Then, as per your requirement, you use the land to create your settings and apps or a marketplace. It thrives as the first-ever fully decentralized virtual space that allows people to immerse themselves in a unique experience of technology prowess.
As the name suggests, DECENTRALAND comprises two words, decentral and land. This means the platform is fully decentralized and is a perfect option for anyone with good knowledge of crypto and augmented reality willing to venture across the virtual world of Metaverse. The project was launched for public access in January 2020. It was led by Ari Meilich and Esteban Ordano.
It is an exclusive platform that allows users to create, trade, and monetize their digital content and virtual real estate properties. You can own anything and everything on Decentraland, starting from an art gallery to hangout spots, from conference centers to lavish homes. These virtual properties can be acquired as Non-Fungible Tokens using the MANA cryptocurrency. The basic tokens you can use in Decentraland are MANA, Estate, and LAND. Each of these tokens has a distinguished purpose in the Decentraland ecosystem.
A major portion of the Decentraland cluster is owned and managed by the Decentraland DAO. DAO or Decentralized Autonomous Organization uses an off-chain voting setup for the community. This gives the token holders a fair chance to cast their vote and get involved in governance decisions and proposals. The DAO owns the most crucial smart contracts that constitute Decentraland. This includes the LAND Contract, wearables, the Estates contract, MANA Metaverse tokens, and marketplace. The DAO makes the platform a suitable place for community growth and development.
The users require to own MANA tokens in their Ethereum wallet to make use of and interact with the ecosystem of the application. The software of this application uses the Ethereum blockchain technology to keep track of the ownership of the digital LAND on this platform.