Decentraland Project Review : Virtual World Owned by Community

Nowadays, people are spending more time in the virtual world in comparison to the real world. People are using mobiles, laptops for both work and leisure. An introduction to the 3D world will create a more immersive experience for people. Websites and applications where people spend most of their time are controlled by a centralized entity. People don’t have any control over these applications. Decentraland, unlike other social networks, games are not controlled by a centralized entity. The community owns and has full control over this shared virtual world. What is Decentraland? Decentraland is a shared virtual world that is powered by the Ethereum blockchain. Its users can create content and monetize it. Users can pay for experiencing various applications in Decentraland. The community permanently owns the land in Decentraland and has full control over it. The ownership of land can be claimed by users through a blockchain-based ledger of parcels. Each portion of land can be identified by a set of cartesian coordinates (x,y). Landowners decide what type of content can be published to their land, content can be static 3D scenes, interactive games. All the land in Decentraland is an NFT, stored in an Ethereum smart contract. To acquire land in Decentraland, the MANA token is used. Digital goods and services can also be purchased by MANA. How does Decentraland work? Decentraland has built a framework for supporting shared virtual...