Introduction The world is gradually moving towards the digital economy where users can create, buy, and sell goods and services ...

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AMTD is acquiring virtual real estate in The Sandbox and appointing a “chief metaverse officer”.

The post AMTD to build “SpiderNet World” in the metaverse appeared first on Digital Finance.

Where it came from and where it is going.

Interoperability in the NFT space is lighting up in a new project called the Pixelverse.

The post This Pioneering Fractal Artist is Returning to VR with a New Album Soon appeared first on Road to VR.

Nowadays, people are spending more time in the virtual world in comparison to the real world. People are using mobiles, laptops for both work and leisure. An introduction to the 3D world will create a more immersive experience for people. Websites and applications where people spend most of their time are controlled by a centralized entity. People don’t have any control over these applications. Decentraland, unlike other social networks, games are not controlled by a centralized entity. The community owns and has full control over this shared virtual world.  What is Decentraland? Decentraland is a shared virtual world that is powered by the Ethereum blockchain. Its users can create content and monetize it. Users can pay for experiencing various applications in Decentraland. The community permanently owns the land in Decentraland and has full control over it. The ownership of land can be claimed by users through a blockchain-based ledger of parcels. Each portion of land can be identified by a set of cartesian coordinates (x,y). Landowners decide what type of content can be published to their land, content can be static 3D scenes, interactive games. All the land in Decentraland is an NFT, stored in an Ethereum smart contract. To acquire land in Decentraland, the MANA token is used. Digital goods and services can also be purchased by MANA. How does Decentraland work? Decentraland has built a framework for supporting shared virtual worlds. A decentralized ledger stores all the data of ownership of land, contents of each parcel of land and also provides a peer-to-peer network for user interactions. Users can participate in governance functions and can propose policies and vote on upcoming LAND auctions. Decentraland’s protocol consists of three layers : A consensus layer: This layer is used for tracking ownership of land and its content. A LAND content layer: This layer uses a decentralized distributed system to download assets and for rendering content in the virtual world.  A real-time layer: This layer is responsible for enabling users to connect with each other.   The above diagram shows the steps executed by the Decentraland client to provide the experience of a virtual world in a decentralized manner. Each piece of land is marked by a unique set of cartesian coordinates. Content created by users can vary from 2D scenes to 3D scenes giving an immersive experience.  The consensus layer is responsible for tracking ownership of land, land content is referenced here as a hash of the file’s content. The content can be downloaded from IPFS or BitTorrent by using reference. The downloaded file of content contains a description of objects, sounds, textures, and other elements needed to render the content scene.  Decentraland has two important systems which enable its economy to develop : Payment Channel Infrastructure: It enables fast payment with low fees. Identity System: It allows users to prove their ownership over their creations.  Tokenomics   Decentraland has an ERC-20 token called MANA. It is used to buy, sell digital assets and can also be used for gambling in virtual casinos. It is also a governance token. Holders of MANA tokens can participate in governance functions. They can propose their own policy and can also vote on the different proposals.  Decentraland is controlled by MANA holders through Decentraland DAO. The DAO owns the important smart contracts and assets such as the LAND contract, Estates contract, Wearables, Content servers, and Marketplace.  1 MANA token gets you 1 vote and owners of LAND and Estates get 2000 votes. The maximum supply of MANA tokens is 2.193 billion. As of writing this article, the circulating supply of MANA tokens is 1.32 billion, the market cap is 3.7 billion, and the price is 2.84 US dollars. Applications of Decentraland Content Curation  Decentraland users can create content of shared interest of their neighbors. If a creator is living near a high traffic hub, then more users will drive to the creator’s content. Advertising Brands can drive users to their products, services, and events by using billboards to advertise in high-traffic hubs. Brands can create shared experiences to engage their audience so that users will be interested in using these experiences in their own land. Digital Collectibles  Digital assets are published, distributed, and collected by users on the blockchain. These digital assets can be traded easily by users in the Decentralnd. Rare or old digital assets are traded at a very high price. These digital collectibles are used to identify users and their land.  Social All the groups which are present in online forums, chat groups, discords can port their communities into Decentraland. People can form different communities on various subjects and can propose their policies through governance. Conclusion Decentraland has opened a new world of possibilities for internet users. Users can create their own content on a decentralized platform and can receive all … Continued

The post Decentraland Project Review : Virtual World Owned by Community appeared first on Cryptoknowmics-Crypto News and Media Platform.

There is an increasing number of smart contract platforms rolling out in the crypto space, with many becoming household names. However, a dark horse in the race to be the most efficient and secure blockchain is ‘Nexus’. Given its low market cap, most people have never heard of this seven-year-old blockchain, yet it delivers far […]

Why buy real land when you can go virtual?

The web is evolving, welcome to Web3.

Lucky Kittens is an algorithmically-generated Solana-based NFT collection composed of 5,888 pixelated cats. A relatable image is one of the factors that can catapult a non-fungible token (NFT) collection to success, but the problem is, most creators wrongly took this ‘relatable’ element by merely producing copycat creations. While the NFT market is awash with all sorts […]

The post What are Lucky Kittens? appeared first on Asia Crypto Today.

NFT art created by AI algorithms brings new meaning to nonfungible tokens, but can artificial intelligence be trusted to produce a new genre of art?

Movies and TV shows usually get robots wrong. Looking at you, "Transformers." In movies and TV shows that feature robots, the machines tend to be...