Decentraland is a blockchain-based virtual reality platform that allows users to create, explore, and trade in decentralized virtual worlds, known as LAND. Built on the Ethereum blockchain, Decentraland uses its native token, MANA, for all transactions, including purchasing LAND, virtual goods, and services within its metaverse. The platform offers a unique space for creativity, commerce, and entertainment, where users can build virtual environments, host events, and even monetize their digital assets.
Founded in 2015 by Ari Meilich and Esteban Ordano, Decentraland was created to merge blockchain with virtual reality technology. The project held its Initial Coin Offering (ICO) for the MANA token in 2017, successfully raising funds to fuel its development. By 2020, Decentraland launched its mainnet, enabling users to fully engage in the platform by buying, selling, and building on virtual LAND parcels.
Over the years, Decentraland has grown significantly, establishing itself as a pioneer in the metaverse and NFT space. In 2024, Decentraland continued its momentum, introducing new features like a desktop client and enhanced user experiences. It has consistently topped development activity charts, indicating robust progress and developer commitment. Partnerships with global brands like Microsoft and Tennis Australia, along with hosting high-profile events such as the Metaverse Fashion Week, highlight its growing influence in both the digital and real-world spaces.
The Decentraland Foundation oversees the project's development, while the platform is governed by a Decentralized Autonomous Organization (DAO), allowing the community to participate in key decisions about the future of the metaverse.
Above are only for introduction, not intended as investment advice.
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Decentraland is a decentralized virtual world that is created and owned by its users. It has no single entity controlling the platform, and its code is open source, allowing anyone to make improvements or build upon it. The virtual world comprises individual LAND parcels in Genesis City, which are bought, sold, and rented in Decentraland's Marketplace. The platform's operations and future are determined by the community through governance forums. Community creators design unique wearables and emotes, earning a significant portion of the sales proceeds. Daily events in Decentraland are organized by the community, ranging from concerts to art gallery openings, and the platform emphasizes decentralization in its operations.
Looking forward to 2023, Decentraland has several exciting developments. These include the launch of SDK 7, which aims to bring the platform closer to its envisioned decentralized model. A new all-in-one editor is also expected, enhancing content creation for both technical and non-technical creators. Improvements in multiplayer support are planned, along with the introduction of Oculus support for virtual reality experiences. Mobile support updates, significant advancements in the Decentraland DAO's organization and scope, and the integration of dApps into Genesis City are also on the horizon. Other notable developments include dynamic 3D architecture, the merging of music with NFTs, advancements in P2E racing, and various community-driven projects and events.
In summary, Decentraland is a user-owned and user-created virtual world, with no central control, where community members can buy, sell, and rent virtual land, create content, and participate in a wide range of events. The year 2023 promises significant advancements in technology and community engagement, reinforcing its position as a leading decentralized virtual world.
Decentraland belongs to the Metaverse sector, which encompasses virtual environments where people can interact, work, and experience digital content in a more immersive way. This sector is characterized by technologies like Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR), and it’s closely associated with the gaming, media, entertainment, and digital asset markets, including NFTs and cryptocurrencies.
The Metaverse sector has experienced significant growth, driven by advancements in technology and changing consumer behaviors:
Looking at the development prospects for the Metaverse sector:
In conclusion, Decentraland is part of a burgeoning Metaverse sector that is experiencing rapid growth and evolution. The sector’s future looks promising, with significant opportunities for businesses and individuals alike. However, challenges related to cybersecurity, privacy, accessibility, and the digital divide need to be addressed to ensure its sustainable and inclusive growth.
I found some information regarding the tokenomics of Decentraland, which is based on its cryptocurrency, MANA. Here’s what I was able to gather:
1. Initial Token Distribution: The initial distribution of Decentraland’s MANA tokens was allocated as follows: - 40% to Crowdsale (ICO) - 20% to the Decentraland Foundation - 20% to Team & Early Contributors - 20% to Community & Partners.
2. Circulation and Total Supply: As of January 2021, about 1.49 billion MANA tokens were in circulation, which is approximately 68% of the current total supply of 2.19 billion MANA. The original total supply was set at 2.8 billion MANA but has been reduced due to over 600 million MANA being burned as a result of LAND auctions. Additionally, there are mechanisms in place to further reduce the circulating supply of MANA, including a 2.5% burn on Decentraland marketplace transactions. Originally, MANA was designed to inflate at 8% in the first year, with a gradual decrease over time. However, inflation is currently disabled, and there are no plans to initiate this inflation until deemed necessary. Unfortunately, I wasn’t able to find detailed information on the current token release schedule or the specific process of new token creation for Decentraland’s MANA. This information may require more in-depth research or direct consultation of Decentraland’s official resources or whitepapers.
Here’s what I found about the team behind Decentraland and its funding history:
1. Founders and Development Team: Decentraland was created by Argentinians Ari Meilich and Esteban Ordano. The project has been in development since 2015 and was opened to the public in February 2020. It is overseen by the nonprofit Decentraland Foundation.
2. Funding History: Decentraland raised $26 million in its initial coin offering (ICO) in 2017. By 2022, the platform had a market evaluation of $1.2 billion. However, detailed information about subsequent funding rounds or major investors was not readily available in the sources I accessed.
Here’s a timeline of important events and milestones in the development of Decentraland:
Here’s a chronological list of significant events and milestones in the development of Decentraland:
1. 2015 - 2017: Decentraland was created by Ari Meilich and Esteban Ordano and has been in development since 2015. It launched in 2017 with Genesis City, comprising 90,601 parcels of land. During its launch, digital land parcels sold for about $20, and mana tokens for $0.02. The platform raised $26 million in its initial coin offering (ICO) in 2017.
2. April 2021: There was a surge in popularity for NFTs, leading to parcels in Decentraland selling for between $6,000 and $100,000.
3. November 2021: A virtual real-estate company purchased a plot of land in Decentraland for $2.43 million. Also, there were significant community votes and discussions within the Decentraland’s decentralized autonomous organization (DAO).
4. Late 2021 - Early 2022: Major brands like Samsung, Adidas, Atari, and others appeared in Decentraland or bought“properties”in it. Decentraland hosted Metaverse Fashion Week with participation from major fashion brands. Music artists like Deadmau5 and Grimes held concerts on the platform.
5. October 2022: Decentraland had a market valuation of $1.2 billion. However, there were reports of fewer than 1,000 users performing currency transactions on the site each day.
### For the future roadmap of Decentraland in 2023, here are some key points:
6. SDK 7 Launch: This will bring Decentraland closer to a decentralized platform model.
7. New DCL Editor: An‘all-in-one’editor with both visual interfaces and code editing capabilities, expected in Q1/Q2 2023.
8. Better Multiplayer Support: New architectural designs for game-servers for multiplayer experiences.
9. Emotes & Decentraland VR: Introduction of a new emotes system and Oculus support for virtual reality.
10. Mobile Support: SDK 7 updates aim to enable DCL to run in constrained and remote environments, suitable for mobile devices.
11. New Engines and Branches: The Decentraland Protocol will start being formalized with the potential implementation of new engines like Godot and Unreal Engine 5 by Q4 2023.
12. Performance Updates: Inbuilt cache/data flows systems in SDK 7 for smoother scene rendering.
13. DAO Development: Significant increase in activity and organization within DCL’s DAO.
14. Immersive In-World Marketplace: Virtualizing all of Decentraland’s dApps and integrating them into Genesis City.
15. Public Land DAO Strategy: Developing a governance framework for the use of public land.
16. Metaverse Music Festival: Scheduled for November 2022, setting the stage for Decentraland festivals in 2023.
17. Mental Health First-Aid Experience: Launched in partnership with Mindeasy, with more updates expected across 2023.
18. Dynamic Architecture: Massive leaps in 3D Architecture with dynamic, user-interactive builds.
19. Music NFTs: Merging music with NFTs in DCL.
20. VroomWay Racing: Developing P2E racing games in DCL.
21. Quadratic Voting & Funding: Reforming voting power and funding allocation within the DAO.
22. DCL-Metrics: New services for metrics and traffic tracking.
23. DCL-Connect: A community-built platform for event management and scene curation.
24. Dice Masters & Map Updates: RPG game updates and immersive map upgrades.
25. Wilderness P2E: An RPG game integrating AI and better Web3 integrations.
26. Audio & Video Streaming Improvements: Scalable solutions to streaming services.
27. DAO Meetups & Event Strategies: First in-person DAO Meetup and active presence at key conferences.
28. Retro 2D Client & Metaverse ATMs: Launching a retro-style DCL client and Metaverse ATMs.
29. Grant System Reform & Treasury Diversification: New grant system and asset diversification in the DAO’s treasury.
30. Decentraland Reporter & Population Growth Strategies: Report-to-earn initiative and‘Operation Population’for increasing user base.
31. New Nodes & Realms: Launching new Catalyst Nodes and exploring new realms and cities beyond Genesis City.
32. Game Developments & Fashion Week 2023: Focus on games like‘Temple’and Metaverse Fashion Week with new features.
33. Documentation Platform & DAO-Foundation Synergies: New documentation platform for content creators and overlapping roadmaps between DAO and Foundation. This list provides a comprehensive look at both the historical milestones and the forward-looking initiatives that define Decentraland’s journey and future plans.
Here are some important and specific links related to Decentraland:
https://market.decentraland.org/
https://builder.decentraland.org/
https://docs.decentraland.org/
https://places.decentraland.org/
https://events.decentraland.org/
https://intercom.decentraland.org/
https://www.reddit.com/r/decentraland/
https://twitter.com/decentraland
https://github.com/decentraland
Decentraland’s valuation and the potential future prospects of LAND within the platform are quite dynamic, influenced by various factors including user engagement, technological developments, and market trends.
Decentraland’s valuation and prospects are shaped by a mix of user engagement, continuous platform development, and market trends. While there is enthusiasm about its future, particularly regarding LAND and MANA token, it’s essential to approach investment with a thorough understanding of the platform’s evolving nature and the speculative aspect of the Metaverse market.
Decentraland is a blockchain-based virtual reality platform that allows users to create, explore, and trade in decentralized virtual worlds, known as LAND. Built on the Ethereum blockchain, Decentraland uses its native token, MANA, for all transactions, including purchasing LAND, virtual goods, and services within its metaverse. The platform offers a unique space for creativity, commerce, and entertainment, where users can build virtual environments, host events, and even monetize their digital assets.
Founded in 2015 by Ari Meilich and Esteban Ordano, Decentraland was created to merge blockchain with virtual reality technology. The project held its Initial Coin Offering (ICO) for the MANA token in 2017, successfully raising funds to fuel its development. By 2020, Decentraland launched its mainnet, enabling users to fully engage in the platform by buying, selling, and building on virtual LAND parcels.
Over the years, Decentraland has grown significantly, establishing itself as a pioneer in the metaverse and NFT space. In 2024, Decentraland continued its momentum, introducing new features like a desktop client and enhanced user experiences. It has consistently topped development activity charts, indicating robust progress and developer commitment. Partnerships with global brands like Microsoft and Tennis Australia, along with hosting high-profile events such as the Metaverse Fashion Week, highlight its growing influence in both the digital and real-world spaces.
The Decentraland Foundation oversees the project's development, while the platform is governed by a Decentralized Autonomous Organization (DAO), allowing the community to participate in key decisions about the future of the metaverse.
Above are only for introduction, not intended as investment advice.