Thread by @Finology_Quest

Decentraland is a blockchain-based real estate platform that everyone’s going crazy about and investing in.

- Here’s a detailed🧵on it (1/7)

#Metaverse #Crypto

Decentraland is a Metaverse built on #Ethereum blockchain. It is a virtual world where ppl can buy, develop, and sell LAND.

Ppl can explore this world by visiting Decentraland’s website, & investors can purchase plots of land in it & monetize them how they see fit. (2/7)

#Decentraland was 1st released in August 2017, co-founded by Ariel Meilich and Esteban Ordano. It attracted partnerships from Binance and Samsung.

By far, museums, games, commercial office space, and residential homes have been built in it. (3/7)

The project uses a non-fungible ERC-721 token representing the ownership of land & items in the game.

And users can purchase LAND as well as all other goods/services in Decentraland with #MANA, a fungible ERC-20 token. (4/7)

There are 90,601 individual plots of virtual land on the system. Each LAND is precisely 16x16 meters (256 sqm).

Land groups sharing similar themes can be clubbed as districts. Agora (a voting system) allows users to gain more control of the developments in their districts. (5/7)

MANA has become increasingly popular since Meta’s (FB) name change. And it is currently available on a variety of exchanges like eToro, Webull, Voyager & Gemini.
Meta could be the prime competitor of Decentraland & another is Sandbox; it’s the 2nd largest metaverse crypto. (6/7)

There are extreme ends of bullishness and bearishness in the market.

So, what side are you on?

If you liked it, hit Retweet 🔁 and don’t forget to follow us! (7/7)

#Metaverse #Crypto