Project Name: Decentraland
Project Ticker: MANA
Project Website: decentraland.org
Project Twitter Address: twitter.com/decentraland
Project Whitepaper: https://decentraland.org/whitepaper.pdf
A. What is Decentraland (MANA)?
Decentraland is a blockchain-based virtual world. This virtual reality platform is powered by the Ethereum blockchain. Users can create unique contents, applications and earn revenue from these applications on the Decentraland platform. The land you buy is processed on the blockchain to prove its ownership to you. On these lands, land owners can create whatever content they want. These contents can be a stage, show, gallery as well as playgrounds.
B. What Does Decentraland (MANA) Offer?
Decentraland is not managed by a central organization. This distinguishes it from other virtual worlds or social networks and makes it decentralized. Apart from this feature, Decentraland uses a distributed and decentralized ledger system to record land ownership. It offers a peer-to-peer network service where the coordinates and records of each land are kept.
Some services on Decentraland:
Interests and Interaction: Users can meet around common interests in Decentraland. Different services can be offered according to the wishes of the users in each parcel. This allows them to be in the same place as other users with common interests. In addition, the contents of the lands where many more users visit can attract more attention. This can be evaluated as renting an office on a busy street.
Advertising: As we mentioned, you can promote your products, services or events by having billboards near the busy lands with a large number of users or by purchasing land in those areas. You can think of this as having a billboard in Taksim Square, as in our other example.
Apps: Decentraland's software language enables the development of applications, games and dynamic 3D scenes. Thanks to this, there is a wide variety of features among users, such as creating objects, loading textures, physical rendering, sounds and payments.
Collecting: Rare works of art or assets have attracted attention throughout history and have been sought after. Today, we have started to see these assets digitally on the blockchain. You can exhibit these digital artworks on Decentraland and sell them to other users. If you wish, you can also become a collector by collecting rare works of art.
The Marketplace: The Marketplace is the place to trade and manage all of your Decentraland on-chain assets. Other possibilities Marketplace provides include:
It provides the opportunity to buy and sell your lands, regions, wearable products with the MANA token at the price you set. Likewise, it allows you to buy all of these products from other users. You can also exchange and transfer these products. You can view the assets owned by the users and have information about the market by viewing the desired MANA token amounts for these assets and products.
C. Technology of Decentraland
You can log in to the Decentraland Platform using Chrome and Firefox on a computer or Mac, the platform does not yet support mobile devices. However, it is planned that improvements are made in this regard and that in the future, access to the platform will be available via mobile. Another requirement to use the Decentraland platform is a digital wallet. You can log in to Decentraland by connecting your digital wallet. Transactions you perform without connecting your digital wallet will not be recorded.
Decentraland started by using the Proof of Concept consensus to register the ownership of digital lands on its map to the records of users on the blockchain. Each pixel on the Decentraland map represents a terrain with its coordinates. At the end of 2016, the 3D designs of the world, which was designed only in 2D at first started. In the next stage, the developers made improvements on Decentraland to create applications and provide them to users.
A crypto money system has been implemented to improve the communication, interaction and payment system between users within Decentraland. In this way, land owners will be able to define the contents of 3D objects, applications and interactions that can work on their land. In order to establish the economic function of the virtual world, a low-cost payment system has been developed.
D. Decentraland Team and Company
Decentraland's current team started working on the project in 2015. It is a known fact that the adoption rate of crypto money projects in 2015 was much less than today's level. However, as time went on, the increasing interest and number of users enabled platforms such as Decentraland to have a large user pool. Today, with the increasing use of Ethereum blockchain, new projects are emerging. The Decentraland team consists of many experts in their field.
Esteban Ordano: Esteban Ordano is the founding partner of Decentraland who trained in software engineering and information technologies. He is currently working as the CTO (Chief Technology Officer).
Ari Meilich: Acting as the project leader, Ari Meilich is trained in neuroscience. After gaining experience in various laboratories in this field, Meilich has been working for Decentraland for about 4 years.
E. Decentraland Digital Asset Economy
MANA is Decentraland's convertible ERC-20 token. MANA can be spent in exchange for lands on Decentraland called LAND. LAND are unique digital assets held in Ethereum smart contracts. LANDs contain the x, y coordinates of the unique area owned by the land owner. Each LAND contains identifying information and codes such as coordinate records, the owner of the land, and the content the owner wishes to present on his land.
ICO Date: August 18, 2017
Token Type: ERC-20
ICO Token Price: 1000 MANA = 24 USD
ICO Acceptance Unit: ETH
Amount Collected: 24.140.000 USD
F. Decentraland Collaborations
It is on its way to becoming a platform originating from a world about what can be experienced in the world. The fact that societies have to stay at home due to the Corona virus epidemic has led people to want to meet their socialization needs in virtual worlds. Giant companies, on the other hand, have started to shift their colorful and striking advertisements on big streets or squares to digital. As the virtual world, Decentraland has made significant progress in this field as of 2020. When we examine the land map in the Decentraland virtual world, we see that many central stock exchanges, e-commerce platforms and NTF markets, as well as giant technology companies such as Samsung and Atari, are in cooperation with Decentraland.
G. Evaluation of Decentraland
Studies show that today people are starting to spend more and more time in virtual worlds for both entertainment and business purposes. The fact that mobile devices and the use of the internet are now spread all over the base attracts people of all ages to this experience. Blockchain technology also has an important use in this field with the opportunities it provides. Decentraland brings together the virtual world and the blockchain, offering users a virtual world based on the Ethereum blockchain, with its own native token. It is a unique project with its features such as being unrivaled and users can own their own regions. Their collaborations are also remarkable. Finally, Decentraland, where developments related to Atari are experienced, and its local token MANA are expected to be mentioned more and more every day.