DecentraLand (MANA)

Comparable to - World Of Warcraft, Massively Multiplayer Online Role-Playing Game (MMORPG)

Simple Explanation - DecentraLand incentivizes the creation of a shared virtual world. Users within the virtual world can sell virtual land / real estate, as well as explore, interact and play games within this digital world. This virtual world is created and controlled by users within the network.

A crypto experts explanation - A network running on Ethereum seeking to incentivize a global network of users to operate as a shared virtual world. Users on the DecentraLand platform can buy and sell virtual real estate, as well as explore, interact and play games within this digital world. Decentraland is governed by their token, MANA. The digital land in DecentraLand is referred to as LAND, non-fungible tokens using the standard ERC-721. These digital real estate parcels use blockchain backed tokens to define their ownership. Having LAND allows a user to own a portion of the Metaverse and be able to host content. MANA, an ERC-20 coin, is the native coin of DecentraLand and is used to pay for goods and services within Decentraland. MANA can be bought and sold for fiat currency or other digital currencies. If users own MANA they have the ability to vote on updates to the policies, land auctions and subsidies for the new digital developments. DecentraLands software leverages Ethereum blockchain to track ownership of digital lands by requiring users to hold MANA tokens within the Ethereum wallet. Developers on DecentraLand’s platform are able to design the animations and interactions that they can experience within their virtual real estate. DecentraLand is built upon Ethereum using smart contracts that are layered upon one another. A specific layer of this smart contract, called the consensus layer, maintains a ledger that tracks land parcel ownership. The LAND token parcel has a set of coordinates that are unique to the virtual world and details the owner and description of the content within the parcel. This content layer controls what can happen within each parcel of LAND, and requires content files, script files and interaction definition files to render each layer. Content files refer to all static audio and visuals within DecentraLand. Script files exist to define both placement and behavior of all referenced content, and lastly the interaction definition relates to peer to peer interactions such as gesturing, voice chats and messaging. Lastly, the real-time layer facilitates all social interactions such as user avatars, voice chats and messaging.