As of December 15th, Decentraland finally reignited their long anticipated LAND auction and will continue to run until December 25th, 2018.
Decentraland is a decentralized VR platform that powered by using Ethereum blockchain. Those who are interested enough to use the Decentraland platform will be able to create, experience, and monetize their content and applications.
This 3D world created by Decentraland was given the name LAND, a non-fungible digital asset maintained in an Ethereum smart contract.
According to the company here’s how it works:
Land is divided into parcels that are identified by cartesian coordinates (x,y). These parcels are permanently owned by members of the community and are purchased using MANA, Decentraland’s cryptocurrency token. This gives users full control over the environments and applications that they create, which can range from anything like static 3D scenes to more interactive applications or games.
Last December, LAND auction was quite successful and Decentralized finally decide to once again allow people the opportunity to claim any of the leftover LAND that still remains in Genesis city. While they did succeed in selling over 34,356 parcels during the previous year, a total of 9,000 is still left.
For those who are interested in participating the auctions simply follow this link. Interested parties must create a wallet with MetaMask, Mist or Trezor hard wallet and make sure enough digital assets to bid.
At the current moment, these are the acceptable tokens used for the auction:
Purchasing virtual land is quite the interesting concept, and with the incredible success they had last December, it’s now wonder why they’ve decide to auction off the rest. It’s going to be quite interesting to see where Decentraland manages to go with this.
Are you going to participate in the auction?
Let us know your thoughts.