Decentraland is a VR platform for users to be able to buy virtual land to create and monetize applications and content, all powered by the Ethereum blockchain.

decentraland

Decentraland Uses Ethereum Blockchain ICO to Sell VR State

Decentraland plans to build a community-owned virtual ecosystem. The main difference would for this ecosystem is that it will not be owned by a by a central organization, avoiding issues like high fees, arbitrary selection, and restrictions. Decentraland uses the Ethereum blockchain as its underlying technology, so it will provide full transparency of virtual real estate (LAND) with smart contracts. Enabling users and developers full ownership and economic benefits.

LAND is meant to be a scarce resource and it can only exist once. So once the demand for LAND grows, there will be an appreciation in its price. By owning LAND, you can publish any kind of content on it, such as games, virtual shows, and varied 3D content. As a landowner, you can publish content onto your LAND without third party approval.

“We were heavily inspired by Snowcrash and Ready Player One. These ideas of an immersive, shared virtual reality, combined with open networks where no entity has control over the rules of this world, got together and converged on Decentraland.” Says Ari Meilich of Decentraland.

There are many uses for a decentralized VR world, people can build anything from applications for games and even. Apps can handle various capabilities like the creation of textures and objects, payments, sounds, encoded interactions, physics, and more. We expect competitions between users to see who creates the most interesting neighborhoods.

With so much potential for content and visitors from all over the world, advertisers will definitely find an opportunity to promote their products or services by posting their ads on LAND. A whole new market for virtual things can be developed, where even rare or scarce digital assets can be obtained and traded in a fully immersive VR world.

Source: Decentraland :: Turing Complete

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