Assets in VR
Since coming across decentraland I have been amazed at its capabilities and what can be accomplished within it. There is so much going on within the tech industry right now especially surrounding AI, VR, blockchain an quantum computing and projects such as this expand awareness of the privacy and security of blockchain along side its many applications.
The main concept of decentraland is to bring value to digital assets by making 3d creations such as land and wearbles become extremely collectable enhancing the percieved value of the items. Decentraland does this by using the Ethereum network to mint virtual goods as NFTs, once these goods are minted a transaction history begins when items are sold, this meaning that whenever the item is transferred to another owner it can not be registered as another product, due to the fact that the digital asset is already minted on the blockchain and transfer of ownership simply means the asset is owned by the buyer and will appear listed within their wallet without need to re upload the product on the platform.
This technology has been implemented in other projects such as crypto kitties using the power of the ERC721 standard (NFTs), to allow products to create a history of their ownership on the blockchain thus retaining the individuality of the digital asset.
Using Decentraland
Many people often ask on forums such as reddit and message boards like discord, “How to get involved?” The answer is extremely simple, each parcel of LAND in decentraland is valued by the MANA token, its this token that enables a user to claim ownership of the land by exchanging it for currency in the form of tokens. In recent months the price of MANA has risen dramtically and was at one point equal to the US Dollar, seen as most lands sell for 8000 MANA that means earlier this year LAND would be equal to 8k USD. This is no longer true as the hype for NFTs has decayed somewhat bringing the price right down to 0.8 USD, however this is still expensive and can be a barricade for those who want to purchase land to host events on.
Purpose of LAND
The main use of land right now is to be used to host events, these events can be found on the decentraland events page and bears witness to common events such as NFT galleries as well as infrequent hackathons/ giveaways. Hosting an event is the best way to get involved in the decentraland community, for example, if you were to host an NFT gallery you would need to interact with the discord or reddit to host a successful event. Events usually have Proof of Attendance tokens, games, music and wearable auctions/ giveaways.
If you don’t know what wearables are they are digital assets that represent clothing which can be worn by avatars in the game. Promoting your opensea NFT store on decentraland is a great way to get instant user interaction and a full user expereince.
Decentraland is the Future
I fully believe that decentraland is the future of marketing as well as getting instant feedback from customers, events can be very rewarding for decentraland players as NFTs can be sold for high prices or given away and resold. These rewards increase user incentive to stay on the platform and interact with brands and players alike in large community based activities.
