Decentraland Review: Best NFT Crypto Play??
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Published 2020-03-04
📺 Video on NFTs 👉 • Non-fungible Tokens: DeFi Sector No O...
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⏰ Time Stamps ⏰
1:17 Introduction
3:10 What are Non-Fungible Tokens?
4:05 How Decentraland Works
7:46 Decentraland Mainnet Launch
8:40 Decentraland DAO
10:20 Decentraland Use Cases
11:50 LAND & MANA Tokens
13:50 Decentraland Team
14:45 Partners of Decentraland
16:00 Roadmap & 2020 Updates
16:50 MANA Market Overview
17:46 Conclusion
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⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: decentraland.org/
► Whitepaper: decentraland.org/whitepaper.pdf
► GitHub: github.com/decentraland
► Docs: docs.decentraland.org/
► Roadmap: trello.com/b/YZnGNh5z/decentraland-roadmap-2020-an…
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📱️ Socials 📱
► Official Blog: decentraland.org/blog/
► Twitter: twitter.com/decentraland
► Telegram: t.me/decentralandTG
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📝 Project Overview 📝
Decentraland is a virtual reality platform, entirely decentralized, built on Ethereum’s blockchain. On Decentraland’s platform, users have the ability to create and monetize their applications and content.
The 3D virtual space within the platform is both traversable and finite. Decentraland refers to this space as L.A.N.D (LAND), which is a non-fungible digital asset that the Ethereum smart contract maintains.
Land within the Decentraland platform is split up into parcels, which are designated using x and y coordinates. Parcels within the platform are purchased using Decentraland’s token, MANA.
⚙️ Technology ⚙️
There are three layers on the Decentraland platform and these are the Consensus layer, the Content Distribution layer, and the Real-Time layer.
The consensus Layer uses an Ethereum smart contract for ledger and ownership purposes. This layer also contains a description file, which is how each landowner tells the platform what they want to serve at their respective locations.
The Content Distribution layer is a decentralized system of storage that Decentraland uses to distribute content needed to create its virtual world.
With the real time layers, users communicate with one another via peer-to-peer connections.
🗳 Decentraland DAO 🗳
Decentraland’s DAO is the owner of some of the most important assets and smart contracts that exist within the platform. These include the content servers, the marketplace, wearable, the Estates contract, and the LAND contract.
🤔 Use Cases 🤔
Decentraland’s scripting language allows for the creation of games, applications, and 3D scenes within its platform. This language can handle a wide variety of tasks, including handling platform physics, creating objects, developing sounds, loading textures, and managing external calls.
Digital collectibles are another important use case. The platform expects users to create, publish, share, and collect unique digital content on their blockchain.
💰️ Token 💰
LAND is purchased by using MANA, which is an ERC20 token with a fixed supply. MANA tokens are used as a proxy for the value of purchasing a new parcel. LAND is a non-fungible ERC 721 token.
There is a fixed supply of MANA which means that the more that are used to purchase LAND, the less that exist in circulation.
👨💻️ Team & Development 👨💻
Decentraland’s lead tech is Esteban Ordano. Ordano was the leader of the team that developed Streamium.
Ariel Meilich is the Project lead. Meilich relies on his experience in data analytics and venture capital to help drive Decentraland forward.
For the 2020 roadmap, there are a number of things that you should look out for. These include the likes of:
- Teleporting to target scenes
- Selecting multiple items within the builder
- In-world screen for scoreboards / vending machines
- Using pre-built scenes in the builder
- Development of companion app
📈 Trading & Wallets 📈
MANA is a popular token and is listed on a number of markets. Binance, Coinbase Pro, Bittrex, Huobi etc. There is also reasonable liquidity on all of these exchanges.
For storing the tokens, given that these are ERC20 tokens any etheruem compatible wallet should do.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Decentraland #MANA #crypto #ERC20 #Review #NFT #blockchain #cryptokitties #collectibles
All Comments (21)
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Learned more from Guy than my university level finance courses... no joke
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110% the best crypto detailed reviews on YouTube
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Great vid again Guy!👌 I rate MANA is going to be massive in future!🚀🔥 Good to get in now!
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So in the future i will go to work virtually. Buying and selling real estate virtually, like i do now in the real world. Sounds like a great retirement career 🤓
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This is one of the most clear and precise explanations and breakdown of decentraland I have listened to. I will definitely be sending this to noobs
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You are one of the best video creators and Crypto analyst. Great job and I'm a subscriber for a long time ...
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Very informative as always! Never knew about that project... But now I do... You are the best! 🙏🙏
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Will you do an update on this and Mana now that Beeple and deadmau5 have broken into the NFT space? I think those two coming into this are making all of these areas come alive. PLEASE do a follow up
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Awesome job of explaining how it works Guy! You are a great teacher! Do you have any updates planned?
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I am accumulating MANA in order to make my first purchase of land to set up shop
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watching 2nd feb2021: Hodlers of Mana at the time of the vid: 36.555 Hodlers feb2021: 55000 Noice. I think with all the big exchanges $Decentraland is one of the best NFT projects
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This is awesome great video !!
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I may be late but I just finished reading the white paper for MANA and I came here to bear more. 😆 I’m so excited about this project.
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nimiq do more on this crypto, your spot on it a gem, just like your channel, proper informal information 100000 subs for this channel guys, hit the like button
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Another great vid 🤟🏾
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Best crypto deep dive info...dont have to go to any other channel :D
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Currently, getting LAND would mean involve too much of my portfolio into Decentraland, but i would have loved to !
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Most clear and concise explanation ever.
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there's also some newer version of decentraland...i think its called Somnium Cube or something. It's basically the same but with VR and glothes to wear so your character mimics your rl movement.
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Wow... major Ready Player One vibes right now.
