Decentraland: Addictive Cryptocurrency-backed Virtual World Goes Live

Decentraland: Cryptocurrency-backed Virtual World Goes Live

Decentraland (MANA), the virtual world project backed by cryptocurrency has officially launched. The blockchain platform allows users to purchase virtual lands and properties utilizing actual money.

Ten days prior to launching, Decentraland (MANA) enthusiasts invested a whooping $1 million buying virtual assets. The firm has seen a money pouring into the platform.

However, Decentraland was never short of fund. In 2017, an initial coin offering (ICO) raised $20 million from investors.

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In addition to raising fund ICO campaign, the Ethereum-based blockchain project has attracted attention from a number of venture capital firms (VC). Boost VC, Algalon Capital, Hashed (Accelerator) are among their investors. Decentraland’s main office is located in San Mateo, California.

Decentraland: taking the virtual asset world by storm

Decentraland Virtual Houses Pictures

Decentraland’s virtual plots have created some sort of gold rush over the past couple of years. Land owners hope their purchased lots or properties will appreciate like physical real estate do.

Cryptocurrency traders spent millions buying virtual land over the years. An additional $600,000 worth of digital plots were purchased a few days leading to the platform’s official launch.

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MANA, Decentraland’s native token price surged more than 100% between January 31 to February 18. $1m+ in virtual assets traded on Decentraland in the past 10 days, according to token market discovery firm, NonFungible.

During a phone interview with Bloomberg, Ari Meilich, Decentraland’s lead developer said:

“The users are in control of the digital assets, which is something that hasn’t happened before.”

Meilich continued:

“We think that over time players will gravitate toward games where they are more in control.”

CryptoKitties, once the most popular crypto-based game on Ethereum network has lost the crown to Decentraland. They’re not trading ten times more virtual assets than CryptoKitties.

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