Decentraland: A Virtual Reality World
We all love to make a world of our own and keep it grooming at every stage. This would need a lot of money and time which is not possible practically. However, in this world of technology, you can make a dream world and keep it alive with social friends and much more. It is a different world altogether which can be created using the technology of the future. Being linked to cryptocurrency world Decentraland is an opportunity for the future investment where you can build your own assets and it would be stored on a platform called as Ethereum Blockchain. It’s unique concepts is accepted by most of the investors who wish to make a virtual world of their own and for others who barely know about it are still confused on the real requirement for it. So, let us look at the many positives that would help such investors gain confidence over the Decentraland concept and decide to create their world online. Here, you will get to know what Decentraland is, how it works and where to buy MANA and much more.
What is Decentraland?
The vision of Decentraland is to make a virtual world completely different from the real world and still make it run like the real one. It has been booming ever since it was launched in December 2015. Many product demos and other technological advancements have been created in this environment. It is a concept of a shared virtual world where you have the power to socialize, transact goods and services digitally and share it when you create it. Decentraland is a kind of a video game built by you to make it grow in all the possible aspects. People are going bonkers about it and already signing up for such a concept. It has a nice feel for creating and owning something that you built with your own hands.
How it works and the Potential of Decentraland?
Decentraland has become a potential new layer of interaction at a social level which can be explored by the users and invest in its growth. Just like the real world of assets can be sold and purchased, this concept is used digitally. It helps the users to get a hold of their investments and tap it with just a few clicks on your system. It also helps you to keep your assets intact and visit them even in the wee hours to transact in case of an opportunity or emergency. Unlike the real world, the paperwork for any assets transfer is not that difficult. All you need to do is make a transfer internally and the transaction is successful.
Social has become the new Anti-Social
What we call as socializing over the internet has become more of an anti-social activity. We tend to exchange messages very since the internet has been in place and the technology has been evolving each day. Now you get into the 3D world of rich images and videos which are shared over the internet through YouTube, social media messages, video chat and instant messaging along with Reddit. We have become more engrossed in our virtual world and have left our real people behind in this gamble. We shop online and add daily requirements to the cart to be delivered to our doorstep and the only person we might say hello to is the delivery guy. This is the trait of the virtual world as it cuts us off the real-life experiences. Looking at all such changes the world of Decentraland is more common and has become popular in the recent past.
What is MANA?
MANA is a token used for transacting in Decentraland. If you wish to buy land at Decentraland you would need MANA for it. The land at Decentraland is available in 10 square meters which are about 33 square feet. The upper limit to build vertically is not a concern, however, the limitation would be the base of the building and the ground available for sale. The ground is scarce and this has made it more popular to develop a strong and content lifestyle at Decentraland. There can be abundant land available as it is digital but the idea is to keep the price intact and not make it abandoned due to excess availability.
Potential Use of MANA
MANA is available on different online exchange platforms which can be bought to participate in Decentraland purchases. Once you have done this ensure that you have some quantity of ETH which would help in transacting. Also, a web browser which is fast enough to support dApps and should be compatible as well. Just like the general auctions, MANA would be staked for the transaction. The Genesis City would open its doors to participate in the transaction and you may commit your set of MANA for the transaction or contribute your share to the available community districts.All this would be manned by Ethereum in a smart contract until the event at Terraform takes place. The unused MANA would be returned to you when the auction is over giving you room to invest directly with the other owners. The concept of community districts will be to spread through Decentraland to be organized independently. If you wish to contribute land to the community districts then you may buy land parcels at a cost of 1000 MANA for each parcel.
The work of MANA is not over here as it would be a currency of Decentraland in the future for the transaction of Decentraland and transferring it to other investors. It would be your own gateway to purchase and sale of goods and services digitally. As and when the land in Decentraland will develop, it would create a virtual world with more value for MANA in the future. So, keep your MANA intact and ready for use in the future transactions of Decentraland.
What is Mining?
Mining is a simple process of recording all the transactions in a ledger which is maintained globally. It is also called as blockchain which helps the investors to know about their transactions in depth. All this data is stored in proof of work. Once the transaction is received, it needs to be solved which would take approximately 10 minutes and then it would be confirmed. You can then spend it on all other transactions.
Is Decentraland mineable?
Generally, mining is possible in most of the cryptocurrency but for Decentraland it is not possible. This is because it has a different concept with a new and advanced platform that helps it to be unique.This platform does not have the scope for mining as it does not have a single point of contact. You can buy land and then sell it on your own in a decentralized manner. This is the reason mining is not a cup of tea for Decentraland.
Review for Decentraland
Decentraland was first taken as a funny concept as you had to create a virtual world which used to happen in the virtual world of gaming. But with the advent of investment and making your assets in this world clicked the idea and there were many takers. In the recent past, cryptocurrency picked up fast giving the investors a new ground to play on. And with the creation of new land and building your assets over it gave a new way of investment to many people who needed a new approach to investment. The team behind Decentraland has been successful in making products that were just available in our dreams such as owning casinos, shopping centers, underwater resorts, malls, hotels and much more. You can also visit all such properties when you enter the world of Decentraland through your investment and enjoy live music, attend workshops and so much more in your own virtual world. If you have been afraid to test drive a car in the real world, this can be experienced in the world of Decentraland. You can enjoy the virtual world using your VR headset in a 360-degree view and enjoy all the benefits of it.
Where to Buy MANA?
MANA is a currency which is used in Decentraland and can be purchased in exchange for BTC or ETH. If you are looking for “Where to buy MANA”, let me tell you that the options are not few. But, here we have listed the best exchanges for where to buy MANA. These Cryptocurrencies are available with ease on many exchange portals. All you need to do is buy them on the exchange portal and get as much possible to exchange it with MANA.
It is a company based out of China and was launched in mid-2017. By the start of 2018, it had tapped almost 2 billion USD in terms of capitalization. The platform is very safe to transact and professional in its approach. The fees for it are very low as compared to other exchanges. This is the reason investors prefer transacting with Binance.
It was launched in the year 2014 and has a lot of potentials to make the investors get great exposure. The fees are low and can be used to buy and sell coins from blockchain deposits. It also has many arbitrage opportunities which can be used by investors.
Once you buy MANA you need to store it just like you do with physical currency. So, let us look at the wallet options for MANA.
Where to store MANA? – The wallets for storing this cryptocurrency coin
As we all know that MANA is the currency for Decentraland and when you purchase it, storing them becomes the topmost priority. You can easily store it in MyEtherWallet which is also used to store Ethereum coins. It is a free Ethereum wallet and is very commonly used among all the investors of Ethereum. It also supports many other currencies which can be explored by the investors.
Trezor is another wallet which can be used for storing MANA. It has the capacity to store Ethereum and Bitcoins along with ERC 20 tokens and ZCash as well. You can make it a little more customized by using the Trezor Hardware Wallet which can be carried and used as and when required.
Land purchase in Decentraland is possible using two approaches where you can do so by purchasing it from the current owner and the rest is from a district where many people would be investors and you would be a part of the community. Using the blockchain gives it an unforgeable record and owners need not worry about anything at all.
What people talk about it on Reddit?
Reddit has become a common platform to give your views and reviews to almost all the people who require it so that you can make use of the information and make big in life. It is a common platform where you can share almost any news or ideas that you have for others to benefit from it. Reddit becomes the backbone of the many new ideas and inventions along with investors to give them a boost in anything that they do. It gives a guiding path to the investors so that the right and wrong or the benefit and loss can be chalked out to give them a good thought process.
Decentraland was a dream for many investors who wished for a complete world of their own which can be controlled from over the top. This has become now a dream come true and that too; with no limits in the investment. Usually, when you make a property, you need to maintain it, to keep it in an appreciable state. But with Decentraland, it is just simple to do so and sell or buy it as and when the prices are right. Decentraland was not accepted by many as a concept and this was a huge risk which is now a booming industry. Create your own world virtually and keep it going strong with all your fancies present in it. Everything that you think of is there in the world of Decentraland and you can make more of it by building vertically to the highest limit possible. If you have not yet invested in Decentraland, it is time you do so as it can offer you fruits which are hard to imagine.