What’s new with Decentraland?

From land being bought and sold for up to $200,000 between users. To the expansion of their marketplace, what’s new with Decentraland?

For those of you clued up on the world of MMORPG’s like World of Warcraft, EVE Online and Entropia Universe. You’ll know that the virtual reality world of gaming, items in-game can carry very steep price tags.

Blockchain gaming is certainly not out of step with the broader market as we’ve seen. Not to be outdone when it comes to in-game transactions, games like Decentraland and proving a surprising sensation.

According to recent news, plots of land are being bought and sold for prices ranging from 9.9 MANA ($1.56) to 2,000,000 MANA ($175,578). For those of you unfamiliar with this game, Decentraland is a Virtual Reality game powered by the Ethereum Blockchain.

In Decentraland, users can purchase the in-game currency (MANA) to buy plots of land known as ‘Parcels’ or LAND. Once a user has a Parcel/s, they can build whatever they want in that area.

With land costing to the millions, what on earth do you do with it?

For people like Sebastian Serrano, who bought several plots of land on the game. It can prove a unique asset for advertising his own brand of services. Particularly, for offering mortgages for parcels of land within the game, before going on to advertise cryptocurrency loans to users internationally.

For Serrano, it’s one part, assuring returns on his initial investment, another part exploring how versatile Blockchain really is.

“It allows us to explore at low costs, with less money at stake and within something that’s like a game, how blockchain-based mortgages can work,” – Sebastian Serrano speaking to Bloomberg.

So what’s new with Decentraland?

In a recent post on their Medium blog, Eric Schallock announced that the games marketplace is featured on imToken. ImToken is a multi-chain wallet, giving users ready access to their wallet, coin exchange and applications.

What this means for Decetraland is exposure to over 4.5 million users to their already existing market. So for those of you thinking that Parcels/LAND priced at $200,000 and beyond was a lot. We can only imagine these prices going even higher as these new users get involved.

2 Comments
  1. bitcoinipie says

    What are you over stating the prices. The highest price per land is 600k mana (~$60k). There are 3 outliers for up to 2mm mana (~$200k). No one land was sold for over that. The average price today is 12.5k mana (~$1,250)
    Source: https://nonfungible.com/pages/decentraland/market/history

    1. James McQuillan says

      Thanks for your comment. We’ll go ahead and change these statistics to outline the difference between bidding prices and sold prices

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