Available to the public ever since January 2020, Decentraland is a VR experiment by Ethereum that allows you to explore and play different activities and games. A decentralized autonomous organization governs the system (DAO).
Decentraland runs on three native tokens; Estate, an ERC-721 token for combined parts of digital land; LAND, another ERC-721 token for parts of digital land; and MANA, which is an ERC-20 token serving as Decentraland’s official currency.
You can purchase these lands to build your own worlds, marketplaces, applications, and environment and furnish them as you like. Just like metaverse, you can participate in Decentraland’s virtual world as an Avatar. You get to embark on an exploration journey of an ever-developing map.
You can also participate in activities like buying and selling with other fellows in Bartertown, purchasing digital art from the Crypto Valley Art Gallery, and learning at the official Decentraland University by using digital tokens. However, unlike your usual tokens, the digital tokens in Decentraland can also be used to transfer assets in the real world. It is done by connecting Decentraland’s economy with Ethereum.
For the first time ever, Ethereum has made it possible to transfer the value you have in a virtual world into the real world. It is way beyond a regular virtual world video game. Decentraland is Ethereum’s way of creating a decentralized world. Many crypto companies have already made their way into Decentraland, including Rarible, SuperRare, and others.