The market of cryptocurrencies and blockchain-based products has experienced rapid development over the last decade, which has led to the creation of very technically advanced cryptocurrency projects. One of such projects is Decentraland. The team behind this initiative created a unique platform built on the Ethereum protocol that quickly acquired a global network of users sharing a virtual world with each other.
Decentraland is described by the broadly understood cryptocurrency community as a virtual reality (VR) platform powered by MANA, an ERC-20 token that is used as the system's native coin. Members of the Decentraland community can use the MANA token to buy LAND, which in turn is a virtual bundle of the VR platform. LAND is a non-fungible ERC-721 token. Owning a LAND means the ownership of the platform users to their own piece of the virtual world created by Decentraland.
Decentraland does not have a central governing body for this VR world, and the entire virtual reality ecosystem is operated and managed by Decentraland users only. The world created by this company functions as an alternative VR ecosystem in which users can perform actions such as, for example, buying and selling virtual real estate or playing games. Users of this virtual world can also use their land for whatever they like, as long as the functions of the network must allow it. The world created by the Decentraland team allows users to communicate freely, and also opens the possibility of getting rich and participating in the development of the Decentraland metaverse.