A Virtual World
“Decentraland is a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications” Decentraland.
You can buy land, lease land, build and create chargeable activities. Users have full control over the “land” they own and keep proceeds from any money generated from other users.
How Do You Interact With The World
It is still in the development stage, raising money in their presale of the token MANA.
How Does It Work
It uses the ethereum Blockchain as an unforgeable record of ownership. Users can buy portions of land in the market place using MANA the programs native token. Each portion of land is 10*10 meters and there is no limit to how much you build on top of it.
Is this serious?
Taking a couple of moments to search this on Google and Youtube you’ll see that some people are taking this very seriously. As of date there are some pieces of land which are selling for up to $800, 000. Yes, $800, 000, that’s basically a house in the heart of london.
As with the “real” real estate market you’ll find people calculating Growth projections, yields etc.
Personally I can’t really get my head around “investing” that sort of money on virtual land. But hey, each to their own as they say.
[Learn more: “What is Blockchain?”]