Tonight, CNBC’s Fast Money is airing a segment with Janine Yorio, capital manager at Republic Real Estate.
As a skeptic first, she says she has finally realized the potential of virtual world real estate, after shrugging it off for a long time. In the segment, they are talking about Decentraland and metaverse in general. And particularly the massive land grab of virtual real estate assets as ERC-20 tokens.
She also talks about the pandemic leaving people inside their homes with nothing else to do, and this big upcoming generation of young gamers, always looking for the next big thing to play. Both Decentraland and Sandbox have in common using the power of the blockchain and tokenization to bring gaming adoption to the masses.
Gaming is a billion of dollars a year industry, and the younger generation are massive adopters of this new technology. With VR becoming more and more commonplace in the near future, advertisers, and big global brands won’t want to miss the potential opportunity to bring on new, young, and loyal consumers.
We at Decentra.news are happy to see that the mainstream investing media and public are realizing the potential that Decentraland has to offer with its virtual world.
Use Cases for Decentraland
So, what is Decentraland, and what can users do with it? Well, with its powerful engine, users can create 3D scenes, games, and apps. It handles things like platform physics, object creation, and sound development. If you’ve ever worked with a game engine like Unity, these terms will be familiar to you.
Digital land shoppers can navigate Decentraland’s various themed districts to find the best locations to develop by using the ATLAS tool. The sheer acts of building, decorating, and sharing scenes in Decentraland is fun, but users can also just opt for hanging out in the different districts.
Decentraland encourages content curation. And users can congregate with others of shared interests. They can introduce each other to novel content. Users can also erect billboards in high-traffic districts to promote products, services, or events. Companies could promote their brand or showcase new products. Other use cases for Decentraland include 3D design, education, and virtual tourism.
LAND and MANA are scarce, there are only a finite amount of parcels that are available to build your scenes and metaverse idea on. In total, there are 90,000 parcels of LAND available. Each is individually owned by an individual, who can have as many LAND as he wishes. Players can also choose to convert LAND into bigger estates. If the parcels are close to each other, that is.
Players owning LAND in their Ethereum wallet can modify and upload scenes on them as they please.
The only limit is their creative minds and their coding capabilities. They can also delegate this option to other people, while still owning the LAND.
MANA, the official currency of Decentraland is also scarce. It is used to trade wearables, parcels, or services. You can even use your MANA to play at the casino. The total supply of the MANA token is fixed at 2.6 billion. Meaning only 2.6 billion of MANA will ever exist, making it a deflationary asset, like Bitcoin.