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Metaverse Research: Decentraland

Welcome to Part 1 of our in-depth research into the metaverse! This was originally posted on Metaverse Properties.

This report series aims to delve into the metaverse through describing its capabilities, applications, and developments; explaining different, prominent implementations of the metaverse in the context of Decentraland, Somnium, The Sandbox, Cryptovoxels, and Upland; offering explanations for different virtual real-estate offerings in each of these metaverses and the process of buying/renting land in each; as well as an offering a description of companies that facilitate virtual real-estate offerings within the metaverse.

As you know, the metaverse refers to a collectively shared virtual space that arises through the convergence of virtual and augmented reality, as well as the internet. It’s often heralded as a burgeoning, next-generation iteration of the internet, consisting of universally existent/accessible, three-dimensional, shared virtual spaces residing within a larger virtual universe.

This first installation of the series will focus specifically on the metaverse implementation known as Decentraland: a decentralized, Ethereum blockchain network-based, virtual reality (VR) platform that enables users to purchase parcels of three-dimensional virtual space in the metaverse. Via Decentraland, users can explore, create, play various games, collect items, and engage in many more activities.

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