What is Decentraland?
Decentraland is an Ethereum-powered virtual world in the Metaverse that offers peer-to-peer interactions, ownership of LAND NFTs and the freedom to create in a way that no other platform allows. In this Decentraland review, we take a closer look at the history, features and tokens of this protocol.
Before Decentraland evolved into a 3D virtual reality platform, its proof-of-concept was a pixelated 2D grid-style experiment known as the Decentraland Stone Age.
Using smart contracts and blockchain ledger technology, Decentraland enables users to develop and monetize the content and applications they create, and what makes this platform unique is that there is also the option to advertise using billboards in the Metaverse and earn revenue from doing so.
The purpose of Decentraland is to encourage users from across the globe to gather, interact, share content, and play games in the Metaverse and to mimic real-world real estate through the ownership of digital assets on blockchain infrastructure.
Who created Decentraland?
Decentraland was created as a collaboration between Ari Meilichm (who is the Project lead) and Esteban Ordano (who is lead of technology).
Ari is experienced in data analytics and venture capital programs and previously worked as a researcher for Amazon and General Electric, which is a multinational American conglomerate.
Prior to co-founding Decentraland, Esteban also co-founded Zeppelin Solutions and invented Streamium, which was the very first application for implementing blockchain payment channels and scaling blockchain payments.
What are the Features of Decentraland?
There are a variety of features that distinguish Decentraland from other similar platforms. This includes the way tokens are used, how the network is governed and the types of products and services offered.
LAND is a rare Ethereum Smart contract-powered utility NFT that is required by developers for hosting applications and it also serves as an identity mechanism.
In addition to this, the income generated from LAND is paid directly to LAND owners and records of LAND ownership is stored in a ledger with coordinates, file references and a description of the asset.
Billboards in Decentraland are another popular feature unique to this platform and they can be used to advertise events, products and services to generate traffic and revenue.
Decentraland can also be used for being creative with 3D design, educating users and for virtual tourism, and each user can create their own unique customizable avatar in the Metaverse.
This is a DAO environment where platform assets, such as LAND and mana tokens, and network developments and content servers are controlled and governed by a decentralized autonomous organization.
What is the MANA coin?
The MANA token is native to the Decentraland ecosystem and it is an ERC20 token that is used to buy LAND parcels and other products and services offered through the platform.
There is a fixed supply of 2.6 billion MANA tokens and these tokens are burned to claim LAND, which is also a rare asset.
How to buy MANA
Most popular exchanges, such as Binance, Coinbase Exchange and Upbit, will sell MANA tokens.
Follow these steps to buy MANA:
Step 1: Create an account with your preferred exchange
Step 2: Follow the online application process and verify your account
Step 3: Log in to the client portal and fund your account
Step 4: Go to the exchange or P2P page (if P2P is available)
Step 5: Search for the token using the search bar and confirm the transaction
What are the best MANA wallets?
The safest form of storage is a trusted crypto wallet with good ratings, to avoid the theft of assets, the loss of access keys, and so that you know you truly own the coins and tokens you purchase.
Based on research, we recommend using these wallets:
- Trezor hardware wallet
- Trust Wallet
The Trezor hardware wallet is one of the most trusted crypto wallets on the market with its 2-factor authentication, SSH (Secure Socket Shell) logins, and document encryption.
Passwords can also be encrypted and managed directly from the app and this wallet can be connected to third-party wallets, used with the Trezor app or be integrated seamlessly with Ethereum.
Trust Wallet is free to download and use, and supports a total of more than 160,000 coins and digital assets. This wallet can be used to buy, sell and trade your assets, and also allows you to manage your coins directly from the wallet.
Trust Wallet improved security measures and uses private access keys, biometrics and unique pin codes to protect your account.
The most attractive features of the multi-currency Atomic wallet is its anonymity, decentralization, atomic swaps, and security. This wallet can also be used as an exchange and it supports over 300 cryptocurrencies. It is easy to use, beginner-friendly and available for free.
Conclusion
If potentially owning land next to a celebrity’s plot in the Metaverse is something that appeals to you, then Decentraland is the place to be – or maybe you would just like to spend your free time being creative in a Metaverse with endless possibilities and many friendly faces.
This is a trending platform that is popular amongst celebs, famous athletes and social media influencers, and there are currently more than 18,000 active users online every day.
What we like most about Decentraland is the way it not only encourages creativity and interaction in the Metaverse, but it also creates income streams and advertising opportunities for all kinds of people and businesses from all over the world.
Join Decentraland today if you want to be part of a thriving digital world with rare assets and unlimited potential!
We hope that this Decentraland review answers some of your questions about this protocol.
Good luck with your trading!
FAQ:
What is Decentraland?
Decentraland is an Ethereum-powered virtual world in the Metaverse that offers peer-to-peer interactions, ownership of LAND NFTs and the freedom to create in a way that no other platform allows.
Who is the founder of Decentraland?
Decentraland was created as a collaboration between Ari Meilichm (who is the Project lead) and Esteban Ordano (who is lead of technology).
What token does Decentraland use?
The MANA token is native to the Decentraland ecosystem and it is an ERC20 token that is used to buy LAND parcels and other products and services offered through the platform.
How to buy MANA?
Most popular exchanges, such as Binance, Coinbase Exchange and Upbit, will sell MANA tokens.
What wallets can I use on Decentraland?
Based on research, we recommend using these wallets:
- Trezor hardware wallet
- Trust Wallet
