Ultimate Resource For Buying And Selling Land In A Purely Digital World
What Is Decentraland? Introduction To LAND And MANA Token. Ultimate Resource For Buying And Selling Land In A Purely Digital World
What Is Decentraland?
According to the Entertainment Software Association, consumers spent $36 billion on the video game industry in 2017 alone. And CCS Insight predicts 121 million mixed reality headsets will be sold in 2022, up from 22 million sold in 2018. The growing sector of virtual and augmented realities includes more than consumers too.
Decentraland lets you build anything on your plots of LAND, and we’ve already seen what happens when people are given such power. Minecraft servers, for example, contain exact replicas of fantasy worlds, working computers, and all levels of creations. The PlayStation-exclusive LittleBigPlanet has over six million community-created levels that include recreations of other games (Plants vs Zombies is a classic), a working piano, computers, and more.
Not only does Decentraland provide a digital VR land to build on, but it’s hosted on Ethereum’s decentralized servers. The world is rendered using BitTorrent and Kademlia DHT networks too, making it a combination of blockchain and torrent P2P technology.
Hosting game servers takes a large chunk of the ~$6 billion dedicated hosting market, and giants like Microsoft, Sony, Electronic Arts, Valve, Twitch, and Blizzard know it’s neither cheap nor easy keeping people happy in virtual worlds.
Is this blockchain-based VR world powered by cryptocurrency just a jumble of trendy buzzwords, or is this digital world the best blockchain-based OS IRL?
Let’s begin our exploration of Decentraland’s creative project by tapping MANA, the native ERC-20 cryptocurrency token of the Decentraland network.
MANA Cryptocurrency Summary
There is a total supply of 2,644,403,343 MANA. The peak price so far was $0.259307 on January 8, 2018.
The Decentraland ICO Occurred From August 8 Through 26, 2017, Raising Approximately $24 Million Worth Of ETH, BTC, And Other Altcoins. Of The Initial Supply:
- 40 Percent Was Sold In TheICO Crowdsale
- 20 Percent Was Distributed To The Community And Partners
- 20 Percent Was Distributed To The Founding Team
- 20 Percent Was Retained By The Decentraland Foundation
The money raised from the ICO will be used to fund research and development, marketing and community development, and business and legal operations.
MANA cannot be mined, and once it’s used to purchase LAND from Decentraland, it is burned. Because Decentraland is built on the Ethereum mainnet, LAND is stored in Ethereum smart contracts, and MANA is an ERC-20 token.
We’ll discuss the economics of LAND more below, but they basically work like real estate contracts, with the market adjusting similar to the real-life housing market.
Initial LAND plots sold by Decentraland cost 1000 MANA, but the secondary LAND market has gotten quite sophisticated over time, and single plots cost in the 10,000 to 100,000 MANA range. Plots are often merged into more expensive estates, with a 2,000,000 MANA estate of LAND sold in March 2018 holding the current record for most expensive digital real estate.
Decentraland’s first LAND auction was held in December 2017, and its second LAND auction occurred December 2018. Decentraland also partnered with Binance in December 2018 to allow LAND purchases with BNB for its auction.
Aside from LAND, MANA is also used to purchase goods and services within the Decentraland ecosystem. It’s also traded on the open cryptocurrency market.
Approximately $8,500,000 worth of MANA is traded on a daily basis. Markets that accept MANA include Binance, LATOKEN, TOPBTC, Bittrex, and Huobi. MANA trading pairs include BTC, ETC, and USDT.
As an ERC-20 token, MANA is supported by any ERC20-compatible wallet, including MyEtherWallet and Ledger’s Nano hardware wallets.
Welcome to Genesis City
Decentraland was launched by Streamium and Bitcore creators Ari Meilich and Esteban Ordano. As mentioned above, it uses a combination of blockchain and torrent technology to distribute hosting and rendering through a P2P network. On a technical level, content is distributed through the IPFS network, with data hashes stored on the blockchain.
In addition, LAND transactions are validated through Ethereum’s smart-contract layer. Each plot of land is 10m by 10m (33ft by 33ft) in size, with infinite vertical scalability. LAND plots can also be bonded together if you own multiple adjacent plots. All modifications made to LAND is stored in the smart contract and verified on Ethereum.
To encourage centralized development within the Decentraland scrawling landscape, the team created a metropolis called Genesis City that’s roughly the size of Washington DC in square footage. It also launched a two-week long Creator Contest to encourage LAND development in February 2019.
Genesis City provides several key features – as a focal point, it becomes a virtual metropolis and makes discoverability easier for both users and developers. The city is also zoned like a real city, with commercial, industrial, and residential areas available.
And Genesis City has its own active Chamber of Commerce of sorts in the form of the Genesis Content Program, through which it’s investing $5 million to fund blockchain gaming projects. So far Chainbreakers, a decentralized RPG; Cryptocarz, a decentralized racing game; Etheremon, a decentralized Pokemon clone; and Cryptobeasties, a decentralized trading card game, are among the anticipated projects built on Decentraland.
While certainly taking time to build up, the current library on Decentraland isn’t far behind VR marketplaces like PSVR, Oculus, Windows MR, or Steam VR. As both internal and external development improve, one can only wonder what will be created within this virtual metropolis.
Decentraland isn’t a video game – it’s a VR world that has digital economies and active development for both consumer and enterprise users. This tactic of development provides a lower barrier to entry for those who may not fully understand coding but can build utility when given the proper tools. Decentraland’s success hinges on these key factors.
- Decentraland is built on the Ethereum blockchain and uses a combination of blockchain and BitTorrent technology to render across a distributed and decentralized P2P network.
- MANA is the native ERC-20 cryptocurrency token used in Decentraland. Both MANA and BNB can be used to purchase LAND, digital real estate represented by Ethereum smart contracts.
- Genesis City is the metropolis built in Decentraland to centralize virtual development and create a cohesive second-life environment.
What Decentraland is building is not going away any time soon. It may be riding Ethereum’s coattails now, but it can easily be adapted to work as a sidechain to other blockchain networks. This decentralized virtual world may be the next Minecraft or Second Life (both of which are still active). But nothing is ever guaranteed in this world, and the Decentraland team still has a long road to go.
The People of Decentraland Will Greet You Now
Most people will agree on at least one thing: 2020 is a dumpster fire. From the coronavirus to economic meltdowns to wrenching clashes over police brutality and systemic racism, we now live in a world that can feel, with every headline, impossible to stomach.
In science fiction works like “Ready Player One,” sometimes the actual world is so bad that people retreat to another world, a fictional world, an immersive world that allows you to become someone else or perhaps to live in a society with less cruelty, more justice and a better system for deciding who gets what.
The concept is not exactly new, as the millions who have played Second Life can attest. Then there’s MineCraft and Fortnite and even Animal Crossing. And there are multiple companies and projects racing to create a playable “metaverse” – a three-dimensional, virtual reality-infused ecosystem – perhaps most notably Facebook Horizons.
In a surreal twist on the idea, Decentraland, the first metaverse to be built on the blockchain, is now open for business. Ever since the Argentina-based team raised $25 million in its 2017 ICO, much of the blockchain community has been eager to enter the matrix. The metaverse has been quietly open for early users (and investors) since 2019. It more fully opened to the public on Feb. 20 (as covered by CoinDesk) and it continues to work out the glitches as it prepares for wider adoption.
How is Decentraland different from Second Life? “The world is owned by the users,” explains co-founder Esteban Ordano from his home in Uruguay. (Ordano lives in Uruguay now, but most of Decentraland’s 20-ish developers are based in his home country of Argentina.) “If the Decentraland organization goes away, the world goes on.” (Disclosure: CoinDesk’s parent company, Digital Currency Group, is a significant investor in Decentraland.)
The design of their universe is humanistic. Once the world is fully created, there won’t be any gods in Decentraland or corporate owners or any rules the users don’t like, because the users will literally own the world. They own the mana, the ERC-20 tokens that fuel the world’s in-game economy. They own NFTs (non-fungible tokens, like CryptoKitties) in the form of wearables, clothes, homes or even cuddly little monsters called Ethermon. And they own the virtual soil and dirt of the land itself.
Welcome to the strange, glitchy, fascinating, frustrating and potentially wonderful reality of Decentraland.
i. Da Club
You arrive in Decentraland to the sounds and sights of paradise. Birds chirp. Blue sky beckons. This is Genesis Plaza, located in the center of the world.
Decentraland is organized in perhaps the cleanest, most logical grid in the history of multiverses. There are a total of roughly 90,000 units of land, or “parcels.” They’re arranged in a 300 by 300 grid. You designate an address with the coordinates on an X axis, from 150 to -150, and then the coordinates on a Y axis, from -150 to 150. Genesis, in the middle of the matrix, is at 0,0. Some helpful bots help guide you to points of interest, such as the Crypto Valley conference super-suite (where CoinDesk held an event during Consensus: Distributed), a human-size chess board or the casino. The graphics range from spectacular to clunky 90s-era computer games, and much of the quality depends on what the users have built. (More on that in a bit.)
Anyone can log into Decentraland for free using a browser (although not every browser works) and wander around as a guest. If you want to claim a name for your avatar, this will cost you 100 mana, or around $4 at the time of writing.
Connecting your wallet and adding mana is a bit of a headache, in the same way that almost everything in the crypto space is a bit of a headache. To get mana I first had to convert my Coinbase account to Coinbase Pro (as mana is not available on Coinbase proper), use Coinbase Pro to trade some ETH for USDC, then trade USDC for mana, then transfer the mana to my MetaMask wallet, which hooks in to Decentraland. Ultimately all of this worked, and those familiar with crypto interfaces should find it straightforward enough, but it’s hard to imagine non-blockchain enthusiasts willing to jump through all these hoops.
Now it’s time to customize your avatar.
Setting up your avatar, typically, is one of the underrated highlights of most games. Usually you can customize the exact shape of your eyes, the density of your freckles, even the diameter of your nostrils. Like the egoist I am, of course I try to make the avatar look like me. Those who are accustomed to the sliders and granular customization of modern games – from Fallout to Dragon Age to Madden – might be disappointed by the limited range of options, which includes just a handful of body types and faces.
Presumably this will improve in time, and is one of many reminders that Decentraland is in its early days.
Once I create a vanilla avatar that looks as boring and white as I do in real life, I jump straight to the virtual hub of nightlife, the “Sugar Club.” It feels like the right first stop. Thanks to the quarantine, I haven’t been to a bar in more than three months. I wonder what it’s like to flirt in a virtual lounge? To dance, to order a crypto whiskey and soda? I arrive at this mecca of meta nightlife to find techno music and a glowing purple floor…but no people. The place is empty.
There are three reasons the place feels so desolate.
The first is that, well, it’s three in the afternoon and a real-life club would be deserted now, too. (Sugar Club has a nightly party, which you can see on Decentraland’s events page.) The second reason the club is empty is also obvious: Decentraland is still in its infancy and there simply aren’t that many active users. Federico Molina, Decentraland’s head of marketing, says 20,000 users have signed up, but there are only 500 active avatars on an average day.
The third is more subtle. Because of the limitations of rendering the world, the users are split across multiple nodes and servers. Even when people are in the same place, they might not be in the same place.
In other words, if you and I both decide to visit Sugar Club at 10 p.m. for a virtual cocktail, you might be on one Decentraland node and I could be on another and we wouldn’t be able to see each other.
“That’s going to be tough to fix,” acknowledges Ordano, the co-founder. Yet, he notes that this is a common feature of massive multiplayer games. Fortnite, for example, has 250 million players but you can only see around 100 at any given time because otherwise your computer and head would explode.
Back To The Bar
The Sugar Club is the creation of a 40-year-old named Kay, a performance artist who lives in Amsterdam.
Like so many others he was crypto-curious in 2017, heard about Decentraland during the buzz of its ICO, and he was one of the early wave of land investors. Like other digital landowners, he thought he should do something with this virtual real estate, so he decided to build a club. He taught himself how to code and learned 3D modeling.
“I can stream music into the club from my own DJ mixing table,” says Kay, who, in the real world, now runs an acupuncture company with his wife. On an average night Sugar Club will host 20 to 30 avatars, but that’s spread across multiple servers. (A crowded rave this is not.) Sugar Club’s most hopping night was in March during the virtual CoinFest Conference, when 100 avatars came for “synthwave, crypto art and exclusive NFTs!” (Decentraland tweets out events like this to its roughly 50,000 followers.)
Feeling like a high roller? If you spend some extra mana you can buy a VIP pass, which takes you up an elevator to a lounge that offers richer animation, a wider choice of music, and a viewing of Kay’s crypto-art collection.
It’s time to go shopping. At the in-game Marketplace, you can scroll through NFT wearables such as a tuxedo t-shirt, “vampire hair” and “jester leggings.” The only thing in my price range is a Mariachi Hat, for 105 mana, or around $4, described by the seller as “Rare.”
Screw it, why not? I load my wallet with more mana (once again, via the super convenient route of Coinbase Pro’s ETH -> USDC -> MANA -> Meta Mask wallet), and now I’m the owner of a NFT mariachi hat, which means that my avatar can proudly roam around the metaverse looking like a cryptographically unique, non-fungible dork.
One corner of the marketplace sells “names,” as in the names you can use for your avatar. You can nab “Amazon” for 2,000 mana, “Professor X” for 24,000 mana, or “Food” for 1,000,000 mana. These are effectively URL squatters. My favorite is the offer of “Taylor Swift” for 2,350,000 mana, as I’m trying to imagine Taylor Swift sitting at her laptop after an exhausting concert, excited to play Decentraland and desperate to claim her rightful name.
Some of the names for sale are opportunistic and distasteful, such as “GeorgeFloyd,” selling for 5,000 mana. This raises the thorny questions that any new society must address: How to handle that age-old tension between free speech and freedom from racism, misogyny or other forms of abuse? What if someone goes by the avatar name of Adolf Hitler? Or unfurls a Nazi flag on their land? Slings a racial slur?
“We want to decentralize all of those decisions,” says Molina. “The landholders are the ones who will make the decision.” (This is, in a sense, an echo of Mark Zuckerberg’s We’re just a platform position.)
The Foundation plans to transfer most authority to the DAO soon, giving full governing power to the owners of the world – the players. (How the DAO will decide on these questions is still very much an open question.) In the case of objectionable content, Molina imagines future functionality where users can choose whether to filter the content they want to see, similar to Google’s Safe Mode.
Another problematic issue: copyright and intellectual property. “This platform lends itself well to copying, to taking ideas and trying to make them your own,” says a user who goes by the alias of Clark Kent, and a prominent member in the Decentraland community. In real life, Kent is a 30-year-old lawyer. “We have to be cognizant of the laws that already exist that we need to comply with,” he says.
If a user streams “Uncut Gems” on her parcel and charges 10 mana for other avatars to watch it, that’s a legal risk that could jeopardize the entire metaverse. “I don’t think there’s any reason why, all of the sudden when you’re in Decentraland, you can violate copyright laws,” says Kent. “There can be real-world consequences.” It’s easy to imagine a future of IP lawsuits, battles over “fair use,” and new debates over ownership in the digital age.
Intellectual property concerns aside, let’s say you’re inspired by The Sugar Club and you want to start your own business or build your home. How do you buy land? This is a sore subject of some, who begrudge the early wave of speculators who gobbled up all the land in the game’s early days, meaning now you have to purchase land in secondary markets. Others argue: This is how the real world works. Land is scarce. Many see the scarcity of land in Decentraland as a feature, not a bug, just like the forced scarcity of 21 million bitcoin.
If you want to invest in land, it helps to know a guy named Matty, based in Melbourne, who’s something of a Decentraland real estate baron.
If you want to invest in land, it helps to know a guy named Matty, based in Melbourne, who’s something of a Decentraland real estate baron. Matty caught the crypto-speculation bug in 2017, plunked some cash in projects like NEO, and found that “this is a really easy way to make money.”
Then came December 2017 and the looming bear market. He viewed the idea of buying real-estate in Decentraland as a way to diversify his cryptocurrency portfolio, just as a traditional investor might view actual real estate as a slice of their investment portfolio. “Plus,” he says in his Australian accent, “the logo looked really cool.”
So he dove into Decentraland’s embryonic real estate market, scooping up parcels that others were trying to ditch. Back then, there wasn’t a liquid or well-organized market, so Matty took advantage of the chaos. He bought parcels and then flipped them a day or two later, constantly wheeling and dealing.
Over the last three years, Matty estimates he has transacted at least $1 million of real estate value, moving over 1,000 parcels in and out of his wallet. In 2018 alone, he claims to have made $83,000 in profit from parcel-flipping. He’s also plugged into the community, so people often come to him when they want to make a deal.
Matty gives me a quick tour of Decentraland real estate, explaining how parcels close to the center of the various districts (like Vegas City, Crypto Valley, or Dragon City) are more valuable, how parcels near crossroads are worth more, and how there are benefits to purchasing adjacent parcels that form an “estate,” which permit you to build higher. The more parcels you own, the higher you can build. In other words, the basic physics of real-life real estate apply to Decentraland real estate.
You certainly pay more for parcels near the center of it all, Genesis Plaza. This is where I went on Saturday, May 30, when SpaceX launched the first American manned spacecraft in nearly a decade. I watched this event in Decentraland. Along with maybe a dozen other avatars, I gather in Genesis plaza to stare at a massive TV screen that pipes in the actual footage of the Crew Dragon.
Honestly? It was pretty great. The communal experience with fellow Decentralanders – even strangers – made this feel like more of an event than if I just watched it by myself on the laptop. It doesn’t take much imagination to see how this could scale.
Think of how, at times, it can be more fun to watch an event like the Academy Awards while also geeking out with your online friends on a second screen, perhaps through Twitter. What if you could do both of these things within the same screen, within the same metaverse?
The gathering for the SpaceX launch is smooth and seamless and perhaps a glimpse of the world’s future. There’s something arresting, even provocative, about the merging of real-life video with the cartoon-style graphics of the metaverse, and the coolness of this alone feels like a legitimate use case.
Yet as the SpaceX shuttle blasts off, there’s no way to celebrate with your online buddies, high five, or really do much of anything besides a text based chat. “Excellent!” I typed in the chat box.
No one responded, and I imagine the other avatars thought, weirdo. They’re not wrong.
Getting around Decentraland is fairly easy and quick. A clever system of teleports whisks you directly to your points of interest, thankfully, so there’s no need to slog through parcel after barren parcel. Yet the universe can be laggy, glitchy and slow.
Sometimes when you teleport to a location it takes 10 seconds, but sometimes it can take more than a minute, and sometimes nothing will load at all and I give up. At times it feels like the main activity of Decentraland is watching the red status bar at the bottom of a loading screen.
Much of the interface involves typing in text commands, such as “/players” to find other users nearby, which feels like a throwback to the early-1990s, pre Graphic User Interface days of computing, when you used MS-DOS. Yet there are also moments and scenes of real beauty, particularly in the Museum District, such as electric, towering green trees that evoke the Gardens by the Bay in Singapore. The life-size chess board is inspired.
Before Decentraland, the only way you can really view crypto-art is from inside a web browser. The Museum District changes that. “Now you have the ability to take that art, and make it into a 3D model, and put it on a wall of your house in Decentraland,” says Clark Kent, the pseudonymous Decentralander. This has the added benefit of not just increasing the value of Decentraland, but boosting the value of crypto art as a whole.
I bring my little Mariachi-hat wearing dude to the casino, which has impressive graphics that exude a Bellagio-esque vibe. You can play games like slot machines and roulette, and here it’s easy to see the potential of Decentraland. You can gamble with actual money – for real stakes – and in theory, once more users enter the system, you can do it with your friends surrounding you, making it a more social experience.
The casino is owned by a 25-year-old named Miles Anthony, who’s from Southern California and spends most of his time in Portugal. He graduated from UCLA in June 2017, caught the crypto-speculation bug, and invested in the Decentraland ICO. “At one point it was a 26x return,” he says, and like other early investors, he decided to reinvest some of that windfall into the project itself.
He was shocked that no one was trying to solve what, to him, seemed like the most obvious use case for a decentralized metaverse: gambling. “A lot of these other metaverses, like Second Life, can’t do gambling, because they’re bound by U.S. laws,” Anthony explains. He soon plans to add blackjack and poker.
In addition to the casino games, of course, in Decentraland you can play a variety of actual game-games – like Tomb Chaser or The Block Runner. Many of these are won by a user named “RedNitrous18,” who IRL is an 18-year-old living in Wisconsin, with bright red hair and blue eyes, who just graduated high school and is now living at home with his parents during quarantine. (Soon he’ll go to college for a degree in aerospace engineering.)
RedNitrous18 is a gamer. He had a sense he could use his skills to make some money in this metaverse.
Sometimes the project team would host events and tournaments (such as on their Feb. 20 launch party), which can cost 10 mana to play (around 40 cents), and if you get the highest score you can win wearable NFTs, which have real value on the secondary market.
“I come from a gaming background, so I didn’t find it too difficult,” he tells me over Zoom. RedNitrous18 targeted games like the “treasure hunt,” where players searched for 50 treasure chests around the metaverse, and the final one contained 5,000 mana, or roughly $200.
He won game after game, scoring wearables like custom Decentraland sneakers, and estimates that he’s hauled in around $2,000 worth of mana and wearables.
The wearables and the NFTs are a big deal in Decentraland, and for some they are the deal. NFTs can reveal personality, showcase creativity, flaunt status, and potentially be lucrative. Some of the NFT concepts are truly slick.
If you buy a billboard and plunk it on your parcel, you can then rent the advertising space to others, and when an avatar clicks on the billboard, the link can open a new window outside of Decentraland into a normal browser. Assuming the user-base grows, it seems only a matter of time before mainstream companies begin in-world advertising.
I’ll give you 10 mana if you’re able to explain this to your parents.
Many of Decentraland’s users take pride in building their own tricked-out houses or displays, like a digital version of Burning Man. But you don’t need to be a coder to do this. You can shop at MetaZone.io, a marketplace that lets you buy NFTs on the real-life internet, and then drop them on your parcel.
At the moment, you can nab some “Corona Zombies” for 27,000 mana (“Gun your way through wave after wave of infected undead! Win mana!); or a Tree House (think: the Ewoks homes on Endor) for 600; or a DJ booth for 1,755 (“Drop the needle playa”…) It’s a long list.
The business model of MetaZone, explains the founder and owner, Will Gomez, is similar to Apple’s App Store, or Google Play. These “metas” are created by artists and developers, just as most apps in the Apple ecosystem are created by third parties.
Revenue is split between the platform (MetaZone) and the creator of the meta. (It’s a 70/30 split, in favor of the creator.) Just as the iPhone became exponentially more useful once third parties developed cooler apps, the hope with Decentraland is that incentive structures like MetaZone will spur both user growth and functionality.
Oh, and you will soon be able to own pets. Ethermon is a game where you can collect, train, and then battle your unique and cryptographic digital monsters. The monsters are generally cute and cuddly and are built on the blockchain, a la CryptoKitties. What can you do with these things?
You can grow food and fruit for your little Ethermon to eat, and as the owner of Ethermon, Robbie Cochrane explains, “You can grow your bond with your Ethermon. Your Ethermon will level up, and become more responsive to you.”
And I’ll give you 10 mana if you’re able to explain this to your parents.
iv. The Future
Franky Needles, 37, has been a DJ for years, mostly in hip-hop. He carved out a role in the metaverse as one of the community leaders, interviewing other Decentraland influencers (such as Matty, Will and Clarke Kent) and posting the interviews in-game. Now he’s working on launching Decentraland News, which he envisions, ultimately, as video that would stream inside the game, where the avatar is the news anchor.
And here’s where things begin to get bigger than mariachi hats or tree houses or cute little crypto-monsters.
“The idea for the news is much bigger than Decentraland,” says Needles. “This would be an actual news network, funded internationally, that has no ties to any sort of corporation. You can report on things from China to Saudi Arabia. You can show what’s actually happening.”
Needles likes that Decentraland is hosted on 40 nodes from all over the world, and “it would take a huge effort to take it down.” This taps into the bloodline of what inspires so many about cryptocurrencies and blockchain tech – the idea that, at scale, people could create real change without the structure (or oppression) of governments and oligarchies.
As Needles began to explore the digital world — particularly the district of Dragon City, filled primarily with Chinese users — he had a light bulb moment. “You can tap into other people’s cultures,” he says, in the sense that you can learn about, and swap ideas with, other communities in ways that you simply can’t do in traditional text-based internet chatrooms.
“I’ve never been to China,” he says. “I’ve never spent much time doing any sort of thought building with a person from China.” Now, by strolling through the meta-homes of his new buddies in Dragon City, he has more insight into Chinese culture and architecture. He has new friends he communicates with over WeChat (China’s version of WhatsApp), and he plans to put his content on Chinese social media.
Needles compares Decentraland and the virtual reality universe of the movie “Ready Player One,” where the VR world was a paradise yet the real world was a dystopia. Given everything that has happened in 2020, suddenly this doesn’t seem so far-fetched.
Why wouldn’t people want to spend more time in a (virtual) world that’s free of corruption and police brutality and systemic racism? “We could change the whole structure of the world,” Needles says, “by having a separate world you can go to.”
Follow the logic further. If we are headed in that direction – a virtual world – then it makes sense to think seriously about how that virtual world is governed, and who’s in charge. It’s not crazy to think that if the world (the actual Planet Earth) will eventually incorporate this virtual alternate reality, then maybe it should be a world that’s owned entirely by the players.
The real villains of Ready Player One, after all, were the grubby corporations who run the game. With Decentraland, there’s no overlord. With Decentraland, there is no police state. With Decentraland, there is no God.
Whether anything comes of this project is very much up in the air. Like so much in the blockchain space, it’s still more potential than functional. Yet, the seeds are planted. How much the seeds grow, in the end, will be up to the users.
And speaking of users, while browsing art at the Museum District, finally, I see a female avatar.
I’m a bit nervous but I say hi.
There’s no response.
I wait a bit. Was I flirting? Is she offended?
And then the woman vanishes.
Ah, so Decentraland really is like real life.
Decentraland Announces Layer-Two MANA Token Transfers, Plans For Full Migration
Polygon claims yet another victory in the scaling wars with Decentraland.
Just a day after two decentralized finance powerhouses announced layer-two integrations via the Polygon sidechain, a major nonfungible token and gaming title has today followed suit.
In a blog post this morning, NFT-powered virtual world and video game Decentraland announced a token bridge enabling users to move native MANA tokens to Polygon and back. At the time of publication, MANA is the 80th ranked token by marketcap and has risen 3750% on the year to $1.01, per Coingecko.
This is just the first step in what will be a significantly larger migration, as the project intends to enable all Decentraland dApps, including their Builder and Marketplace contracts, to conduct transactions on Polygon.
In addition to brisk settlement times, the integration will also make all transactions completely free for users. While Polygon normally charges a transaction fee priced at fractions of a cent, Decentraland said that they will also be leveraging Biconomy.io meta-transactions. This will enable users to “claim, buy, sell, and trade wearables for their avatars entirely on Polygon, with no transaction fees.”
Finally, the integration will allow users to purchase MANA tokens directly with credit and debit cards via a Polygon integration with crypto on/offramp Transak.
The migration is yet another win for Polygon in a multi-horse race to provide scalability solutions to Ethereum’s chronic gas costs. Polygon — which rebranded from Matic, a former would-be competitor to Ethereum whose “sidechain” claim is somewhat strained — has been taking particular advantage of competition falling asleep at the wheel, such as when rollup platform Optimism pushed back their release by three months.
Yesterday, Aave and Zapper both announced Polygon implementations, giving the project two top-100 marketcap wins in under a week. There could be more competition coming in the scaling wars, however, as last week Starkware raised $75 million.