World’s First Virtual Reality Real Estate Supported by Blockchain

Blockchain was always about enhancing existing systems and maximizing the potentials of old ideas that that have thrived over the years. The technology has evolved to bring home certain ideas which may not have been possible before now.

A few years ago, the idea of owning a portion of cyberspace on the rules of real estate allocation would have been impossible. Today, this idea not only moves towards reality, but it is a product of great demand in the economy.

This whole saga began on August 18th, 2017. People showed their extended knowledge and belief in the emerging technology of cryptocurrency. In the initial token sale of this product – the first ever decentralized real estate in virtual reality. Mana tokens were sold out in 35 seconds of the offering raising around $35 million in Ether. This ICO signifies a great number of people are trusting the technology and are ready to adapt the idea of property ownerships in a cyberspace.

Decentraland is a virtual reality platform which is powered through Ethereum Blockchain where users can enter, create, experience and monetize content and applications. This platform is a depiction of a virtual world with no hidden agenda of any kind of central organization. It is ruled by open standards.

In Decentraland, users have full control over whatever land they own in the virtual world and they keep all the proceeds from the value they generate to other users in the same platform/virtual world. This platform is only possible by blockchain technology as ownership records can’t be forged

Staking can be done by going through a properly designed registration process which will remain open until early December. Users can participate by using MetaMask or Mist at terraform.decentraland.org.

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