Decentraland is a virtual world powered by blockchain technology. Users can navigate this digital environment and interact with others using avatars. The land in Decentraland is divided into parcels, which are owned by users who have purchased the corresponding non-fungible tokens (NFTs) on the Ethereum blockchain. These NFTs are called LAND tokens.
Users can use their virtual land to create a variety of 3D experiences, such as games, artwork, and virtual shops. They can also monetize their creations by charging admission fees or offering digital assets for sale. The platform’s economy is fueled by MANA, a cryptocurrency that can be used to purchase LAND and other virtual assets.
The actions and transactions that occur within Decentraland are recorded on the blockchain, creating a transparent and immutable record of ownership and activity. This decentralized approach allows for greater user control and autonomy, as well as creating a sense of ownership and community within the virtual world.
