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