Decentraland Review

This review is designed to get an easy understanding of what Decentraland is if you want a full in-depth look i suggest reading the white paper.

What is it

Decentraland is a virtual world that is been built now and is expected to be released in about a years time. Decentraland is built on the Ethereum blockchain using their own token called MANA. The idea of Decentraland is to create a virtual reality world where players can buy/lease land, created shops, place and create objects, advertise and interact with other users from around the world.

ATM the developers are creating the 3D world but land is available to purchase, i must warn you it is not cheap which makes it a high risk investment.

How is works

They are using a 3 layer approach now im not an expert on the tech side of things so ill just give you what i think it all means probably worth checking the white paper out for yourself if you feel the need to understand how it all works.

Consensus layer is the land ownership paid for in MANA and recorded on Ethereum blockchain

Land contract layer Seems to use BitTorrent and Magnet links to read the smart contracts

Real time layer uses P2P and client servers to run

Somewhere along the line they plan to use micro payments to make the game work smoothly not sure how well this will work on Ethereum. But they did mention they might use a more light weight blockchain in the future for the upper layers.

Market Place

 

Land is available on the market place and all land is priced in MANA which atm is worth 7 cents USD making the price of the pixels which is a 10 times 10 meter square in the game around $2100 for the 30k MAMA pixel. The lowest i have seen is 14k MANA so as i said it doesn’t come cheap, i have heard someone paid near a million dollars for some land . From what i can tell not all land has been released but the land that has was all sold.

World map

 

Conclusion

The game looks cool and i cant wait to see it. Still around 1 year away until it launches paying those high prices for land seems to risky for me. EOS are having something similar that is planned to be released by the end of the year and EOS holders will get airdropped the currency so competition it coming and earlier on a much faster and cheaper blockchain. Is it a good investment? no idea but for $2000 count me out.

Website: https://decentraland.org/

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Cryptoslice Steemit HERE

 

This is not professional financial advice please do your own research before making any investments.

15 votes, average: 4.53 out of 515 votes, average: 4.53 out of 515 votes, average: 4.53 out of 515 votes, average: 4.53 out of 515 votes, average: 4.53 out of 5 (15 votes, average: 4.53 out of 5)
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Responses

  1. CryptosDecrypted

    Interesting times we live in Cryptoslice. Thanks for the overview, I love this stuff, but wouldn’t invest in it at these prices. The EOS project might be a different story. As you note unless ETH scales the project will suffer. Cheers.

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  2. SugarFix

    Holy moly they are some very expensive pixels. I downloaded their software a while back and intended to have a look but I have just been lazy. While sitting in one of the Steemit discord channels I was talking to one of the whales who is working on something similar. When I brought up Decentriland he said his version had no land scarcity and was based more on discovery. Might want to look at that. Otolux.la

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    1. EOSmastering

      Yeah, I was just going to comment on that. I bought some Mana WAY back..like 500USD worth. I thought that should be more than enough for some land/parcels. But CMON..the cheapest one is 12,000 MANA..which is 800USD!! And how many parcels are there for sale? 1700?? So thats 1,3 million USD. But if you look at the map, it seems that ALL parcels are owned. And how many parcels are there? 70,000. Or 56M USD. But its even more expensive because it seems like the avg price is more 50-100k MANA which is more like 100M USD. So is this a fair price? I think it is extremely overvalued. Not saying that it cant be a fair price in the future..but these are optimistic prices!

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      1. Cryptoslice Post author

        i think its all just speculation atm just a big pump and dump it cpuld go way higher still. Very optimistic prices what if the game sucks lol. i think they will be releasing more land in the future atm you can only by resale land.

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  3. Movingman Dan

    Thanks for clarifying that the land available to buy is already all old! And that eos will have something similar? Thats worth a look into before the night is done, Im not surprised though – VR worlds will be the only reality for most people in 15 years lol..

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  4. Littleboy

    > ATM the developers are creating the 3D world but land is available to purchase, i must warn you it is not cheap which makes it a high risk investment.

    I hope it doesn’t turn out like eos knights. The item prices in eos knights are going down and down.

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