Decentraland

Decentraland

Introduction

Decentraland is a decentralized virtual reality platform powered by the Polygon blockchain. Within the Decentraland platform, users can create, experience, and monetize their content and applications.

The finite, traversable, 3D virtual space within Decentraland is called LAND, a non-fungible digital asset maintained in an Polygon smart contract. Land is divided into parcels that are identified by cartesian coordinates (x,y). These parcels are permanently owned by members of the community and are purchased using MANA, Decentraland’s cryptocurrency token. This gives users full control over the environments and applications that they create, which can range from anything like static 3D scenes to more interactive applications or games.

Some parcels are further organized into themed communities, or Districts. By organizing parcels into Districts, the community can create shared spaces with common interests and uses. You can find a list of the original District Proposals on GitHub. The content that makes up Decentraland is stored and distributed via a decentralized network while ownership and transactions are validated on the Polygon blockchain.

What is MANA?

MANA is Decentraland’s fungible, ERC20 cryptocurrency token. MANA is burned, or spent, in exchange for LAND parcels. For a current summary of critical stats like total and circulating supply, please visit our MANA Token Information transparency dashboard. See the Glossary for more information.

Will I be able to buy things other than LAND with MANA?

Yes! In addition to burning MANA in exchange for LAND, users will be able to trade MANA with other users in exchange for goods and services hosted within Decentraland.

Some players have fancy wearables. How can I get them?

The Avatar editor provides a big selection of wearables and accessories – all for free. You can also buy exclusive wearables in the Decentraland Marketplace or earn them by participating in different events.

Collectibles Colors

Each collectible is assigned a rarity category, represented by a different name and color and denoting supply of collectible.

Their maximum issuance is:

• Common: 100000

• Uncommon: 10000

• Rare: 5000

• Epic: 1000

• Legendary: 100

• Mythic: 10

• Unique: 1

Economy

LAND and the MANA Token

With the launch of the Iron Age, we are introducing two digital assets: LAND, the non-fungible parcels in which the virtual world is divided; and MANA, an ERC-20 token that is burned to claim LAND, as well as to make in-world purchases of goods and services.

The utility of LAND is based on its adjacency to other attention hubs, its ability to host applications, and also as an identity mechanism. Developers and other content creators will demand LAND so that they can build on top of it and reach their target audience. Although every unclaimed LAND can be purchased at the same exchange rate (1000 MANA = 1 LAND), LAND parcels are distinguishable from each other, potentially trading at different prices on a secondary market due to differences in adjacencies and traffic.

On the other hand, MANA serves as a proxy to asses the price of a new parcel of LAND. Also, MANA used to buy goods and services in the virtual world creates utility value for the token.

Fostering the Network

Land ownership is acquired through an ERC-20 token called MANA. This token will serve to bring value into the network, and to acquire a new parcel of land. MANA can also be used to purchase in-world goods and services.

In order to jumpstart the network, developers and content creators will be rewarded to set up shop in Decentraland. The Foundation will hold contests to create art, games, applications, and experiences, with prizes contingent on meeting a set of milestones. At the same time, new users will be assigned allowances, allowing them to participate in the economy immediately. These financial incentives will help bootstrap the utility value of the network until it independently attracts users and developers.