At present, the two most evolving and enticing developments in the field of technology are blockchain and virtual-reality. What if we tell you that the two have come together to birth an exceedingly constructive use-case in the form of Decentraland (MANA)? It sounds exciting!
Decentraland, a blockchain-powered virtual reality platform is an interesting project which sells the digital ownership of virtual real estate. Moreover, this entire platform functions on top of the Ethereum blockchain network.
The Rapid Rise of Decentraland (MANA)
The VR platform is witnessing rapidly growing popularity as it currently handles thousands of transactions. Moreover, even though in the early stage of development, the VR platform is smartly tapping into the growing demand for virtual experiences.
As the demand for intuitive and interactive VR experiences grows further, Decentraland plans to disrupt the giant gaming industry.
Leveraging the Power of Both VR and Blockchain
Decentraland provides a unique virtual reality experience and ecosystem for its users. Without leaving the comfort of your couch, it allows users to purchase, develop/build, and customize digital lands. Furthermore, you can seamlessly interact with other members of the platform.
Decentraland also leverages some of the most unique characteristics of blockchain like transparency, traceability, and digital ownership. Using blockchain, it facilitates the complete digital ownership of the virtual real estate purchased. It also eliminates the use of intermediaries through transparent auditing, smart contract creation, and private key holdings.
Using Native Tokens for Virtual Land Dealings
As of now, Decentraland has successfully raised $30M USD to develop its platform. The platform makes use of its own native digital tokens MANA and LAND in order to engage in all of the real estate dealings. Both these tokens are available on the Binance exchange and can be purchased in exchange for Ether.
The use of MANA tokens is more for availing different services on Decentraland. This includes watching a movie at one of the cinema theaters, playing at a casino, renting ten screens to monitor stocks on Wall Street, and much more.
The company promises easy liquidation of its MANA tokens on the Binance exchange. The platform has started getting more attention from visitors as Decentraland is quite confident of its future growth potential.
In September, the most expensive piece of land on Decentraland was sold for $175,000 USD.
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