Review on Decentraland by Fanuel PORPORTY
Decentraland: An immersive virtual universe
Decentraland is an open-source interactive virtual reality platform in which users can buy, use and build on virtual land. The system guarantees its users full property rights as well as permanent property registration on the Ethereum blockchain.
There is no real goal in Decentraland. Instead, users cross a virtual world and buy virtual lands, named LAND. So you can create content and apps there, as well as experiment and monetize them. It is an interactive 3D world, which can be accessed using a virtual reality headset or the classic view of an internet browser. The number of LANDs you can buy is limited, each unit having an area of 16 x 16, but there is no limit to the height of what you can build on it. The possibilities for the Decentraland project are immense.
Decentraland allows you to build anything on your LANDs, MANA is the project's default asset. It is an ERC-20 token that you can buy and resell like most other cryptocurrencies on exchange sites. The MANA cannot be mined, and once it is used to buy land from Decentraland, the asset is burn. As Decentraland is built on the main Ethereum network, LANDs are stored in Ethereum smart-contracts.
Pros
- The project is progressing well and the team is still active. The possibility of buying LANDs with Binance Coin is not negligible, it is an option that allows more people to be interested in the platform.
- The team supporting the project is rather qualified. They are mostly former engineers who have worked on major projects in the crypto system. It is a strength that Decentraland allows itself to have and which strongly participates in the development of the idea and its realization.
- According to the Entertainment Software Association, consumers spent $ 36 billion in the video game industry in 2017. In addition, CCS Insight predicts that 121 million virtual reality headsets will be sold by 2022, up from 22 million in 2018. The sector is developing rapidly and this could allow the arrival of many new players for Decentraland
Cons
- There are many potential competitors in Decentraland. We can cite Neoland but especially High Fidelity, a virtual world operating with the EOS blockchain. The fact that the virtual reality sector is growing can also be a disadvantage for the Decentraland team.
- Games inspired by Minecraft and trying to reproduce its gameplay are posted online continuously. It will be difficult for Decentraland to fare well and find a place among the many Minecraft-like. Even if the system is based on blockchain and being the owner of a virtual field, the biggest challenge is to attract players and convince them to invest in LANDs.
