Learn more about Decentraland Token.
Decentraland Token Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Decentraland Token.
Origin & Background
Decentraland is the first ever Virtual Reality Platform owned entirely by its members. All that you need to do to enjoy this platform is to acquire a virtual realism headset.
Decentraland offers you a wide variety of things to explore. For instance, you can select to create your own exclusive piece of the universe. The choice is yours. You can buy Decentraland-land (virtual reality land) via the Ethereuem Blockchain and have complete ownership rights to such Decentraland-land. Once you have bought the land, no one will prevent you from building what you wish. You can be as imaginative as possible and build whatever you desire. Decentraland runs on the Ethereuem blockchain. It uses this blockchain to store critical information about land ownership.
The Ethereum smart contact is responsible for validating alterations that the owner of the land made. Also, users can use MANA (the Decentraland cryptocurrency) to purchase empty land as well as purchase any digital goods and services. A tile of land measures 10m by 10m.
There is a limited supply of land in the Decentraland. Otherwise, there would be a lot of land left abandoned and purchasing pressure would decrease. Decentraland is ideal for artists, students, gamers, and an online community that wants to have an astonishing 3D experience.
Stone Age (June 2015)
At this phase, the land is essentially modeled as a simple grid. The team used a Bitcoin proof of work (POW) algorithm to distribute land to users.
Bronze Age (March 2017)
In this stage, the team modeled the land in 3D space and integrated it onto the blockchain.
MANA Token Sale (August 2017)
An ERC20 MANA token allows users to own pieces of land. During this ICO, Decentraland raised USD 24 million in only 35 seconds. There were approximately 10,000 investors interested in getting a piece of MANA, but almost 7,000 transactions did not succeed. This was of course disappointing news for the people who didn’t get any MANA, but all in all a great success for the Decentraland-team.
Terraform Event (Q3 2017)
The first opportunity to own land will be the Beta launch that begins the Iron Age. Iron Age will include micropayment system, land management interface, scripting language and a P2P-network. The latest info on the Iron Age is that it will launch in the end of 2018.