Decentraland (MANA) Live

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Decentraland is a 3D virtual reality platform where users can create and monetize content and applications. Decentraland is based on the Ethereum blockchain and aims to establish a network owned by its users and provides an immersive experience. The platform is a shared metaverse where users can purchase virtual plots of land. A metaverse is a shared virtual world where users can socialize, interact, learn, and play. In simpler words, Decentraland is a decentralized world where users can explore LAND owned by users, experience scenes and structures, trade virtual assets, and connect.

Today, as people spend more time in virtual worlds for work and leisure, the big centralized organizations manage the network rules and content flow. The creators and developers, in return, are paid very little. To solve this, Decentraland provides a decentralized infrastructure where users can gather, share content, and play games and also where the creators can derive the full value of their efforts. On the platform, advertisers can display their brands, artists can set up virtual galleries for their digital art, and much more.

In Decentraland, the space that a user interacts with is known as LAND. According to the whitepaper, LAND is a finite and transferable 3D virtual space that is a non-fungible digital asset (NFT) that users can purchase and is permanently owned by them. The LAND owners can choose to do whatever they like on their portion of LAND, like creating dynamic scenes, applications, and games. As per the official website, each plot of LAND is an ERC-721 token and is of size 52 feet by 52 feet (16 meters by 16 meters). The total number of plots is capped at 90,601 and can be bought using MANA tokens.

MANA token is the in-game currency of Decentraland and also serves as the platform’s cryptocurrency. MANA is an ERC-20 token that lets users purchase or trade LAND and pay for goods and services in the virtual world. The token can be used to purchase estates, avatars, wearables, and unique names through the Decentraland Marketplace. Decentraland offers a comprehensive marketplace that is the go-to place to trade and manage all the on-chain assets.

Talking about the game play, every user needs to create an avatar to enter into the virtual world. Avatars can be personalized; users can change body type, shoes, accessories, and much more. There are many things to do in the virtual world, like interacting with other players, visiting casino districts, listening to music, enjoying parties with other players, or just roaming. Creators have built Decentraland with the help of scenes that are displayed one next to another. A scene here is an experience and is a little world in itself where the players can walk from one scene to the other.

As per the whitepaper, the Decentraland protocol is based on a three-layered architecture:

Consensus Layer: This tracks the LAND ownership through an Ethereum smart contract.

Land Content Layer: This uses a decentralized distribution system to download the assets.

Real-Time Layer: This provides peer-to-peer connections between the users to interact.

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