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Decentraland - Coggle Diagram
Decentraland
Use Cases
Application
- A scripting language to allow development of apps, games, gambling & dynamic 3D scenes
Content Curation
- Users will gather around neighborhoods of shared interests
Advertising
- Brands may advertise using billboards, near high traffic land parcels to promote their products, services & events
- Some neighborhoods may become virtual versions of TimesSquare
- Brands can position products and create shared experiences to engage with their audience
Digital Collectibles
- Expect users to publish, distribute & collect rare digital assets issues on the blockchain
Social
- Groups that gather in online forums, chat groups or even other centralized games can port their communities here
Other use cases
- Training, professional development, education, therapy, 3D design, and virtual tourism
Intro
What is it?
- A blockchain based virtual world
- VR platform powered by Ethereum
- A platform where users can create, experience and monetize content & applications
- Not controlled by a centralized organization. No single agent to modify the rules of the software, contents of land, economies of the currency, or prevent others from accessing the world
How does it work?
- Users can claim ownership of virtual land on a blockchain-based ledger of parcels
- Land owners control what content is published to their portion of land, which is identified by a set of cartesian co-ordinates (x,y)
- Land is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract
- Can be acquired by spending an ERC20 token called MANA
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History
Bronze Age
(2016)
- 2016 - Bronze Age - 3D world divided into land parcels
Iron Age
(now)
- To create a social experience with an economy driven by existing layers of land ownership and content distribution
- Will implement p2p communictions, a scripting system to enable interactive content, and a system of fast cryptocurrency payments for in-world transactions
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Architecture
Consensus Layer
- Track landownership and its content
Land Content Layer
- Content Distribution Layer
- Download assets using a decentralized distribution system
Real Time Layer
- Enable users' world viewers to connect to each other
- Land owners/third parties to host servers required for p2p interactions within their land/property
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Identity System
- Credentials are the coordinates of one's land
What is it solving?
The Problem
- Large web2 platforms like FB have allowed millions of users to gather, socialize and communicate online
- The network effects have led to building of great communities and gaming companies
Problem - The network rules, content flow & revenue are dictated by these centralised organizations
Why should it bother us? - It's the content creators that basically drive traffic to the platforms and they don't realize their full value of their contributions + Big Privacy Issue
The Solution
- A platform where low cost, direct payments between content creators and users radically changing internet commerce
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Challenges
-
Scripting
APIs need to be secure to hold private keys & authorize micropayments
Should be easy-to-use for better reach
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Economy
LAND and MANA token
- Land - Non-fungible parcels in which the world is divided-
- MANA - An ERC20 token that is burned to claim LAND + to make in-world purchases
- The utility of land is based on its adjacency (popular hubs etc.)
- So developers & content creators will demand LAND so they can build on top of it and reach their target audience
Fostering the Network
- Initially, developers & content creators will be rewarded to set up shop in Decentraland
- Foundations will hold contests to create art, games, apps & experiences with prizes on meeting a set of milestones
- New users will be incentivized to participate in the economy immediately
Framework Check
- Decentralization, Governance, and token distribution - Yes
- No. of nodes - ERC20 based tokens
- Who owns those nodes? - Land owners own servers/nodees
- How easy is it to set up a node? straight-forward
- Where are the nodes located? In the ethereum network (around the world)
- Censorship resistance - Yes, but whitelisting/blacklisting possible
- Evolution of price of native token - All time high now
- Adoption of DeFi and NFT solutions - DeFis investing in land
- Key trends within the ecosystem (competitors, state of the market) - Alternatives, but first mover advantage
- Team behind
- No. of tokens (inflationary/deflationary) - Deflationary
- Founding date - 2015
Backed by?
Reviewers/Contributors
- CoinFund
- Aragon
- ConsenSys
- Next
- Google
- MediaChain/Spotify
- ARK Invest
- Zeit
- District0x
- Wachsman PR
- Dropbox