(Rejected 2)Virtual Reality Set to Become the New Goldmine Through the Use of Digital Currencies
The year 2017 in the cryptocurrency market is still revered as the best year ever when a majority of the existing and newly founded cryptocurrency saw a massive boom in price; regarded as the ICO Era, one the most unexpected projects to receive funding is staging a comeback as reported by Bloomberg. This is set to financially delights the early participants of the fundraising.
Having raised more than $20 million in a short period during its Initial Coin Offering (ICO), Decentraland is a virtual-reality world owned by its users who are already spending real money to buy plots of land and other properties. The platform went live on Thursday much to the delights of the early adopters.
The majority of the coin holders are set to cash in and take profit by selling goods and services in the virtual cryptocurrency community, also known as Mana. The price of the token has already seen a double-figure this year, though it is yet to reach its highest of 2018. The price of virtual land is now skyrocketing with about $1 million in plots of land sold in the last 10 days, which makes the project’s virtual property the most traded asset on the Ethereum blockchain according to data tracker NonFungible.
Mark Murphy, the Chief Operating Officer of Digital Cryptocurrency Group, also among the early investors in Decentraland and Mana conceded that it is inevitable that people will spend a considerable amount of time in the virtual world while going further to state, “The users are in control of the digital assets, which is something that hasn’t happened before,“ Ari Meilich, project lead for Decentraland, said in a phone interview. “We think that over time players will gravitate toward games where they are more in control.”
Decentraland is quite unique on its own, different from other virtual worlds as it doesn’t require users to download any form of software. Users can easily access the platform through a browser. As the platform growth surges, the community is hoping to have several hundred thousand users within a year.