What is Decentraland?
Decentraland is a decentralized virtual reality game built on the Ethereum Blockchain. In Decentraland, users can create, experience, and monetize their content and apps. Decentraland provides the infrastructure to support the Metaverse virtual world.
Decentraland includes:
- A Decentralized Ledger for Land Ownership.
- A protocol for describing the contents of each parcel of land.
- A peer-to-peer network for user interactions.
For those of you who are still confused about what Metaverse is, Metaverse is a virtual space created from the Internet and augmented reality tools (such as VR glasses or other devices), to help them have the most authentic experience.
Highlights of Decentraland
The interesting point of Decentraland probably lies in the historical division. Project the stages of development in each period like the history of the world:
- Stone Age – The Stone Age (June 2015).
- Bronze Age – Bronze Age (March 2017).
- MANA Token Sale – Open sale of MANA Token (August 2017).
- Terraform Event – Terraform Event (Q3 2017).
- Iron Age – Iron Age (Q4 2017).
- Silicon Age – Silicon Age (2018).
In the above roadmap, there are 4 quite important milestones, namely Stone Age, Bronze Age, Iron Age, and Silicon Age, which will be presented below:
Stone Age
In June 2015, Decentraland launched the Stone Age. It is proof of concept ownership of Non-Fungible Tokens (NFT).
The project created a 2D grid of pixels, each with metadata that identifies its owner and describes the pixel color. Decentraland runs exclusively on browsers, using a p2p network over WebRTC.
Bronze Age
In March 2017, Decentraland began developing the Bronze Age, a 3D virtual world divided into parcels of land.
The owner of each plot was able to associate it with a hashrate that references a file, using the modified Bitcoin Blockchain.
Iron Age
The next version of Decentraland, Iron Age, will create a social experience with an economy driven by classes that own land and distribute existing content.
During the Iron Age, developers would create applications on Decentraland, distribute them to other users, and earn money. The Iron Age will implement peer-to-peer communication, enable highly interactive content, and a fast crypto-payment system for transactions.
Silicon Age
At the beginning of 2018, Decentraland became a fully immersive VR world and entered the Silicon era.
You can go to casinos, watch live music, attend seminars, shop with friends, start a business, test drive cars, visit underwater resorts, and more — all in the world. 360-degree virtual world.
Other information
Also, the land in Decentraland is called LAND – NFT of Decentraland. Anyone can own LAND by buying it and have the right to do with that piece of LAND is up to the user’s needs. Simply put, LAND in Decentraland is like real estate in real life. Other than that, it’s an asset in the virtual reality world.
Each LAND will have a coordinate address (x,y) and once you own the LAND, it will be valid forever, unless you sell it.
Decentraland also has a Marketplace where users can buy and sell in-game items: market.decentraland.org/
In April 2021, Decentraland started the plan to integrate Layer 2 Polygon by opening the MANA swap port from Ethereum to Polygon. Once the integration is complete, users will be able to claim, buy, sell and trade avatar equipment entirely on Polygon.
With Crypto in the interest of traditional hedge funds, a lot of crypto assets have been bought up heavily. In addition to famous assets such as BTC, ETH, etc., MANA has also started to gain attention, typically Grayscale also added MANA to its cryptocurrency fund in March 2021.
Token Information Decentraland (MANA)
Key Metrics MANA
- Token Name: Decentraland.
- Ticker: MANA.
- Contract: 0x0f5d2fb29fb7d3cfee444a200298f468908cc942
- Decimals: 18.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Token type: Utility Token.
- Total Supply: 2,194,102,327 MANA.
- Circulating Supply: 1,327,372,145 MANA.
MANA Token Allocation
- Crowdsale (ICO): 40%.
- Decentraland Foundation: 20%.
- Team & Early Contributors: 20%.
- Community & Partners: 20%.
MANA Token Sale
Decentraland decided to sell 40% of the total supply to the market in August 2017 with the selling price increasing by 5% every day.
After 9 days of the token sale, Decentraland raised ~$25 million for the Crowdsale round.
MANA Token Release Schedule
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MANA Token Inflation
Decentraland decided to use the Continuous Token Model for their MANA token.
Specifically, the MANA token will have an inflation rate of 8% in the first year of issuance and then gradually decrease over time.
The inflation rate is specified in the figure below:
MANA Token Use Case
MANA tokens are used to buy and sell goods and services in Decentraland Genesis City.
At the same time, users must use MANA to buy LAND, and that MANA will be burned automatically causing the supply of MANA to decrease.
How to earn and own MANA Token?
Users can earn MANA by buying and selling tokens on Decentraland Marketplace, or buying on exchanges.
Roadmap & Updates
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Project team, investors & partners
Project team
Ariel Meilich – Project Lead: Used to work as Analytics at Charles River Ventures, an investment fund in Silicon Valley.
Investors
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Partner
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