<p dir="ltr">The idea of virtual reality is gaining traction, as cryptocurrencies mature, developers are using blockchain technology to construct decentralized worlds. Over the years, the world has witnessed the rapid growth of numerous metaverses, which not only provide extra digital ownership of virtual property but also open up avenues for money generation via decentralized smart contracts. One such virtual world, Decentraland, is a representative example of a virtual world as well as its significant value for users. In order to make that clear, <a href="https://www.builder.news/" alt="Builder.news" title="Builder.news" target="_blank" rel="" class="">Builder.news</a> will provide detailed information through this article.&nbsp;</p><h2>What is Decentraland?</h2><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed2441bbbd5892a8e6023f659fee92.jpg" alt="decentraland metaverse" title="decentraland metaverse" width="600" height="334" class="lykafe0"></p><p dir="ltr"><strong>Decentraland</strong> is an Ethereum-powered virtual reality platform that allows users to build the land and control in-game assets, regulations, and development through Decentralized Autonomous Organizations (DAOs). It is evaluated as truly revolutionizing the concept of virtual reality as Decentraland uses fungible and non-fungible tokens to give its users total digital ownership, encouraging them to utilize their creative ideas to construct everything from innovative structures to interesting mini-games within the metaverse.&nbsp;</p><h3>The story of Decentraland</h3><p dir="ltr">To reach a current success, Decentraland has passed through three main periods, including: Stone Age, Bronze Age and Iron Age.&nbsp;</p><ul><li><p dir="ltr">Stone Age: Decentraland started as a proof of concept for assigning ownership of digital real estate to blockchain users. Initially, this digital real estate was implemented as a pixel on an endless 2D grid, with each pixel including metadata identifying the owner and defining the color of the pixel.</p></li><li><p dir="ltr">Bronze Age: This period was opened in late 2016, when a 3D virtual environment separated into land parcels. Using a modified Bitcoin blockchain, the owner of each parcel was able to correlate it with a hash reference to a file. Users exploring the virtual world might use this reference to download the file holding the parcel's content, which defines the models and textures to be displayed at that point, using a Distributed Hash Table (DHT) and BitTorrent.</p></li><li><p dir="ltr">Iron Age: During this time, a social experience will be created with an economy powered by current levels of land ownership and content distribution. Developers will be able to build programs on top of Decentraland in the Iron Age, distribute them to other users, and monetize them.</p></li></ul><h3>Who’s behind Decentraland?</h3><p dir="ltr">A number of professionals have given their knowledge and effort to the creation of the long-awaited <strong>Decentraland metaverse</strong>, including:&nbsp;</p><ul><li><p dir="ltr">Ari Meilich: He is the Decentraland metaverse's lead project manager, and he has previously worked on the creation of many high-level applications such as Benchrise. Ari is currently known as the CEO of Big Time Studios, a company that is aiming to mainstream the trading of NFTs.</p></li><li><p dir="ltr">Esteban Ordano: He works as the co-founder of the Decentraland project. His past experience includes the creation of BitPay Inc, a bitcoin wallet. Esteban's past expertise working with decentralized applications enabled him to merge the evolving blockchain technology into an immersive metaverse with no bounds.</p></li></ul><p dir="ltr">As of late 2020, both of the metaverse's founders, Ari Meilich and Esteban Ordano, had stepped down. While they serve as advisors to the project, control of the metaverse's core mechanics is transferred to Decentraland users of the metaverse via DAOs.</p><h2>Decentraland tokenomics</h2><p dir="ltr">MAMA and LAND are 2 token’s types of Decentraland. While MAMA is fungible ERC-20 token, LAND is known as a non-fungible token built on the ERC-721 protocols. Users who want to own a piece of the virtual estate must first know the fundamental ideas of MANA and LAND parcels.</p><h3>MANA token</h3><p dir="ltr"><strong>MANA token</strong> is a fungible ERC-20 token that may be burnt or sold to acquire LAND parcels on the massive 3D grid. MANA crypto tokens are interchangeable due to their fungible nature, and since they are essential to the ecosystem of Decentraland, MANA is also used for utility purposes to acquire various digital assets inside the vast metaverse, such as a range of avatars, wearables, names, and more on the Decentraland marketplace.</p><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed244178d998aca8e6023f659fee92.jpg" alt="MANA price" title="MANA price" width="600" height="380"></p><h3>LAND token</h3><p dir="ltr">The <strong>LAND token</strong> is a non-fungible token based on the ERC-721 protocols that represents 16mx16m parcels on the metaverse's massive 3D grid. These LAND tokens are not interchangeable and are classified as in-game NFTs since they may be profitably exchanged in the marketplace.</p><p dir="ltr">There is a fixed number of LAND tokens in the metaverse, and 90,601 is the quafinity of LAND parcels . Furthermore, by accumulating LAND plots, users get digital ownership of the land. Using the construction tools at their disposal, gamers may place 3D objects of certain proportions on these parcels.</p><h2>The diverse creativity in Decentraland</h2><p dir="ltr">To make itself stand out from other competitors, Decentraland has boasted a lot of products for in-demand users. People are not aware of the different properties of these metaverses because the notion of virtual worlds is new and has not been thoroughly mainstreamed. Nonetheless, below are some of the Decentraland characteristics that have helped it become one of the decade's most successful metaverse ventures.</p><h3>Decentraland avatars - Create a distinct symbol</h3><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed244178d99e93a8e6023f659fee92.jpg" alt="Decentraland avatars " title="Decentraland avatars " width="600" height="287"></p><p class="prosemirror-p-center"><em>Source: decentraland.org</em></p><p dir="ltr">Avatars enable Decentraland users to customize their own unique look, which is adjustable through thousands of different combinations, and to be issued with a passport, which allows them to go on endless journeys in the Metaverse. Besides, each avatar must be named by the player, which is also a form of NFT. It also means that, after you have decided on a name, you can always sell it on the market to make a profit.&nbsp;</p><p dir="ltr">Before selecting an avatar, keep in mind that users can only be made once. While there are several ways to personalize these avatars using wearables, it will not be feasible to recreate their avatar's actual traits.</p><h3>Decentraland builder - Construction on virtual land</h3><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed244178d9a2e3a8e6023f659fee92.jpg" alt="Decentraland builder " title="Decentraland builder " width="600" height="300"></p><p class="prosemirror-p-center"><em>Source: decentraland.org</em></p><p dir="ltr">The <strong>Decentraland builder</strong> is a simple drag and drop editor whose own tools allow LAND parcel owners to place pre-rendered 3D tools on their land. There are several terrains to pick from, as well as hundreds of utility objects that may be placed on parcels for development purposes. Even though users are non-technical, they can utilize free pre-built 3D objects and place them using the builder and employment tool.&nbsp;</p><p dir="ltr">Currently, through LANDs, while some are building skyscrapers and amusement parks to hold festivals or games that will attract a huge number of by-passers, others are utilizing this technique to curate advertising campaigns for large corporations all around the world. Thanks to the rich potential of development, LANDs in Decentraland are evaluated highly like real estate. In more detail, the average piece of LANDs costs 19,494 $AUD, or 76 $AUD per square meter.</p><p dir="ltr"><em><strong>&gt;&gt;&gt; Read more:</strong></em></p><ul><li><p dir="ltr"><a href="https://www.builder.news/crypto-insights/whether-metaverse-land-prices-are-high-like-real-estate-qygo3" alt="How much does metaverse land cost?" title="How much does metaverse land cost?" target="_blank" rel="" class=""><em><strong>Whether Metaverse Land Prices are high like real estate?</strong></em></a></p></li><li><p dir="ltr"><a href="https://www.builder.news/crypto-insights/how-to-buy-virtual-land-in-metaverse-HtzbX-YFVq6-Eouja-jJ27x" alt="How to buy virtual land in Metaverse?" title="How to buy virtual land in Metaverse?" target="_blank" rel="" class=""><em><strong>How to buy virtual land in Metaverse?</strong></em></a></p></li></ul><h3>Decentraland marketplace - A digital market</h3><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed244178d9a70ea8e6023f659fee92.jpg" alt="Decentraland marketplace" title="Decentraland marketplace" width="600" height="394"></p><p dir="ltr">The <strong>Decentraland marketplace</strong> meets the demands of all of its users by providing all of the in-game necessities. The marketplace, which is built on the Ethereum blockchain and supported by Polygon, allows gamers to sell, buy, and trade items. Furthermore, for newbies, <a href="https://www.builder.news/crypto-insights/how-to-use-opensea" alt="An ultimate guide on how to use OpenSea NFT marketplace" title="An ultimate guide on how to use OpenSea NFT marketplace" target="_blank" rel="" class="">besides the largest NFT marketplace-OpenSea</a>, this marketplace is also where LAND parcels may be purchased.</p><p dir="ltr">In Decentreland, alongside a ton of free games, there are many items which are collected through airdrops or in-game quests. All of them can be traded on the Decentraland marketplace. In other words, wearables, emotes, and names, as well as LAND plots, can all be profitably sold in the marketplace.&nbsp;</p><h3>Decentraland DAO - A democratic revolution</h3><p dir="ltr">As mentioned above, through exploiting the democratized structure of <strong>Decentralized Autonomous Organizations (DAOs)</strong>, the developers of Decentraland are giving over policy authority to its users. Put simply, holders of MANA, LAND parcels, and Estates have the last say in Decentraland's policy-making and development phases, such as adding new fungible tokens, policy moderation, and more.&nbsp;</p><p dir="ltr">The developers control all actions inside the vast metaverse, but the holders manage smart contracts, NFTs, and tokenomics autonomously. Decentraland is evolving the decentralized environment by reducing centralized control over the affairs of the virtual world by employing smart blockchain technology.</p><h3>Decentraland ATM - The first Metaverse ATM</h3><p dir="ltr">In order to advance users’ experience, Decetranland decides to collaborate with Transak payment gateway and Metaverse Architects studio to create the world’s first metaverse ATM, which assists players to easily purchase MANA or any other cryptocurrency.&nbsp;</p><p dir="ltr">According to developers, it will be like an ATM in real life and play the role of enabling seamless payments, increasing conversion rates in stores and reducing the knowledge gap for Decentraland participation.&nbsp;</p><h2>A blend of virtual world and real life in Decentraland</h2><p dir="ltr">The world has witnessed the rapid development of blockchain technology, specifically metaverse and NFTs. Therefore, in order to miss out on golden opportunities, Decentraland joins hands with various entertainment industries such as fashion, and music, that aims not only to expand user’s experience but also has spiked its way to the top of metaverse.&nbsp;</p><h3>Metaverse Fashion Week</h3><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed244178d9ab35a8e6023f659fee92.jpg" alt="Metaverse Fashion Week" title="Metaverse Fashion Week" width="600" height="303"></p><p class="prosemirror-p-center"><em>Source: Vogue</em></p><p dir="ltr">Being the priority in this field, Decentraland’s first step is to host a Metaverse Fashion Week that attracts more than 50 luxury and digital brands as well as a lot of designers from around the world. At this event, participants can see fashion shows and pop-up stores that have attendees from an array of well-known brands such as Dolce &amp; Gabbana, Etro, Dundas, and The Fabricant. Besides, virtual shops may be visited at Decentraland's "Luxury Fashion District," which is surrounded by a high-end shopping street inspired by Paris's Avenue Montaigne.</p><p dir="ltr">Metaverse Fashion Week has distinct benefits over traditional fashion weeks. Because there is no raw material to acquire, brands gain millions of dollars in sales, and practically all virtual clothing implies profit with a little labor. And, for designers, the lack of physical boundaries allows them to express themselves freely.</p><p dir="ltr"><em><strong>&gt;&gt;&gt; Read more: </strong></em><a href="https://www.builder.news/crypto-insights/metaverse-and-fashion-industry-collaboration-Pu9Df" alt="Metaverse and Fashion Industry Collaboration" title="Metaverse and Fashion Industry Collaboration" target="_blank" rel="" class=""><em><strong>Metaverse and Fashion Industry Collaboration</strong></em></a></p><h3>Metaverse Festival</h3><iframe width="560" height="315" src="https://www.youtube.com/embed/CsqZsZZHo4A" frameborder="0" allowfullscreen=""></iframe><p></p><p dir="ltr">Between October 21 and 24, Decentraland hosted its first music festival, the "Metaverse Festival," in the Decentraland metaverse. This great event was not only attended by more than 80 artists but also attracted sponsorships from Heineken, Playboy, Metapurse, Monkey Shoulder, Rarible, and Kraken.</p><p dir="ltr">Through such a music festival, we cannot deny that it is a perfect collaboration of music and culture in the virtual social realm, but it's also an acknowledgement that the metaverse has arrived as a viable, attractive, and profitable venue for talented artists of all mediums.</p><p dir="ltr"><em><strong>&gt;&gt;&gt; Read more: </strong></em><a href="https://www.builder.news/crypto-insights/how-nft-and-web-30-transform-music-industry" alt="How NFT and Web 3.0 transform music industry" title="How NFT and Web 3.0 transform music industry" target="_blank" rel="" class=""><em><strong>How NFT and Web 3.0 transform music industry</strong></em></a></p><div class="pr-block-special"><strong>Disclaimer:</strong><br>This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name.</div><p><br><br></p>

As being a priority in the Metaverse, Decentraland has built a virtual space to advance the creativity of its users. Let's discover it in this article!

Decentraland: A real creativity in the virtual world