SimCity, Civilization, Minecraft. Game developers have spent years creating virtual worlds that allow people to build buildings, cities, or colonize entire worlds. But aside from your defeated digital enemies, what do you have to show for all the hours it took to create these fantastic creations? Not much.
What if you could assign a real monetary value to what you created and sell it to the highest bidder? This is the promise behind Decentraland, a blockchain-powered world-building game.
What is Decentraland?
Decentraland is known as a decentralized virtual reality platform powered by the Ethereum blockchain. In the world of Decentraland, users can create, experiment, and monetize what they build and what they own.
In Decentraland’s shared virtual world, users can purchase land, known as “parcels”, which are recorded in a blockchain-protected book. The land itself, as well as the virtual properties built on it, is a type of non-expendable digital asset or utility token called LAND, which is stored in an Ethereum smart contract.