Decentraland is a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications. Land in Decentraland is permanently owned by the community, giving them full control over their creations. Users claim ownership of virtual land on a blockchain-based ledger of parcels. Landowners control what content is published to their portion of land, which is identified by a set of cartesian coordinates (x,y). Contents can range from static 3D scenes to interactive systems such as games.
In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.
Decentraland was launched following a $24 million initial coin offering (ICO) that was conducted in 2017. The virtual world launched its closed beta in 2019 and opened to the public in February 2020. Since then, users have created a wide range of experiences on their parcels of LAND, including interactive games, sprawling 3D scenes and a variety of other interactive experiences.
Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names, and more on the Decentraland marketplace.
- Users can buy and develop parcels of land on which to build anything from static 3D scenes to dynamic applications - Users have full control over the content of the land they own and keep all the proceeds from the value they generate for other users
Attention. There is a risk that unverified members are not actually members of the team
$35 000 000
$43 218 500
$30 700 000
$564 193 318
Opportunities:The idea of creating a virtual world in VR and interacting in it is very interesting and should draw a lot of interest.The project has been under development since 2015.Since land is scarce, if Decentraland is popular, then MANA and LAND will become very valuable, just like land in the real world.The team has partnerships with other promising projects such as district0x and Aragon.
Concerns:This seems like a very complex project, with different applications being able to run on the platform.Unlike some other ICOs, this project does not actually solve a problem. It is just creating a game that people may potentially want, depending on how entertaining it is.Decentraland is essentially a game but no one on the team has gaming experience. Developing a successful game is very difficult – 99.9% of mobile games are unprofitable. It took even Rovio 51 failures before their success in Angry Birds.I believe the team has the technical expertise, but I am not sure if they have the relevant experience needed to create a successful game.Decentraland needs an active community to stay alive (and for land to be valuable). Even if the project is a hit initially, all games will eventually go out-of-favor and players will leave – virtually no game can maintain its popularity for over 10 years. People will eventually get bored and leave the system.
Conclusion:Overall, I am neutral about this ICO from an investment perspective. It is a very interesting project – I am sure it will be a fun game to play in.However, so many things need to be done right (both in terms of software development and on the entertainment side) for this project to be a success. I’m not sure if the team is able to do it given their lack of experience in the video game industry.Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Not good. The execution of the ICO so far has been poor - 1) increasing the hard cap by $5 million, 2) canceling the whitelist because there is a scam going on? It doesn't make any sense to me.For long-term holding:Neutral. For MANA to appreciate, there needs to be an active community using the platform and finding it entertaining. On one hand, this idea seems very interesting, but on the other hand, I am not sure about the team’s capability to build a successful game given no previous background in the video game industry.
If you want to take your virtual reality world to the next level, then Decentraland has created a perfect platform that you can use to become completely immersed in a 3D interactive world. It is an easy to use platform and has amazing features that will keep you entertained all day.
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