Virtual Reality on the Blockchain, meet Decentraland

What is Decentraland?

Decentraland is an open-source intitiative to build a blockchain-based virtual reality world. It uses blockchain technology to claim and transfer virtual land, keeping a permanent record of ownership.

In Decentraland you can purchase parcels of land (tiles) on which you can build anything, from static 3D scenes to dynamic applications. Other users can be hosted on your land, on which you determine the way they interact with eachother and the environment. Since the land is in your ownership, all the value you create for other users you may keep yourself.

The promise of a matrix-like world we can build, visit and alter as we see fit:

Why Decentraland?

It is their opinion that a public VR world should be ruled by open standards, shielded from the agenda of any central organization. Virtual land owners will have full control over the content of their tiles. Blockchain technology makes this possible as it is a permanent immutable record of ownership.

Issuing a token will allow them to incentivize content creators, developers, and users through bounty programs, artist grants, and a team which helps to execute the vision. Holders of the tokens will be stakeholders of the network and therefore incentivized to create a virtuous cycle where content draws new users and users draw new content creators.