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The concept of virtual reality is fast catching up with masses. It started its journey from the gaming world and now slowly spreading its wings to a host of allied segments. Now taking this idea of virtual reality to an all-new level, Decentraland provides you an opportunity to perform a lot of activities virtually, including the likes of exploring the virtual world, owning the virtual space, socializing with community members, and playing with other users.
The process of providing a world-class virtual experience has recently been concluded with the platform being opened for the public a couple of days back. The virtual ecosystem is built on the Ethereum Blockchain and allows you to experience the virtual world on a range of devices, including your system, mobile, or even VR headset.
LAND Concept
The unique concept of LAND makes the backbone of the experience at Decentraland. Decentraland is divided into LAND, a canvas on which one can create its own virtual experience. As a virtual owner of LAND, you have the full creative freedom of building novel creations, and the best part is that income associated with the exploration of your LAND will directly go into your account.
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Users of the Decentraland community are able to traverse and experience new creations, just like the concept of travel and tourism is a non-virtual world. This means you can attract visitors by creating something unique and catchy and get a reward in terms of the income associated with their visit.
In addition, the location of your LAND is also going to create a world of difference in your income. In order to facilitate your acquisition of the best space, you can utilize the ATLAS tool of the Decentraland. This will help you to select the best location on the Decentraland.
Blockchain Technology
In order to keep the records of transactions, ownership, and other transactions safe, Decentraland uses blockchain technology. You can use an open ledger to manage your LAND and all transactions related to your ownership, creations, income, etc. The truly differentiating character of Decentraland is its decentralized architecture, which is controlled by the community rather than being controlled by a centralized giant server. In other words, Decentraland is a true embodiment of the decentralization characteristic of blockchain, which is providing you a chance to experience virtual reality like never before.
In order to provide decentralized experience in its true letter and spirit, the Decentraland has set up a decentralized autonomous organization (DAO), which is at the helm of all the decision making and policies of Decentraland. You also get the convenience of WebRTC, a real-time communication tool allowing Decentraland’s community members to share views, interact about new developments and establish new connections.
Collaborations and Associations
The whole concept of virtual reality presented by Decentraland is making tremendous business gains for the company. Just for the reference, already $200k was traded in a short duration of one week in the digital sale of the land hosted on the platform. Decentraland platform is getting superb response not only from the users but also from token companies. A case in point is the joining of Matic, which has boarded Decentraland Treasure Hunt recently on February 20, thereby providing a strong impetus to the popularity of the platform.
Conclusion
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It is heartening to witness the revolutionary progress that companies like Decentraland have made into the segment of virtual reality. It is definitely going to power the next wave of cryptocurrency and blockchain adoption and if the growth figures are anything to go by, we will witness this category soon transforming itself to one of the torchbearers of the crypto industry. We expect this year to prove crucial for the growth prospects of Decentraland. With the growing adoption of cryptocurrency and blockchain technology, people are becoming more aware of allied technologies such as virtual reality. This increase in awareness will help Decentraland to power its expansion plans and reach new heights of success in 2020. Also, it will be interesting to witness how the community of the platform shapes in 2020. Especially in terms of policy conceptualization and decision making, the users’ community is definitely going to be in the Limelight and any development in this regard will be closely scrutinized by clean eyes of the Crypto world.
