Microsoft Puts $69 Million Dollar Down Payment on the Metaverse
Microsoft has invested millions of dollars into a new open source project called Decentraland.
Decentraland is the 3D virtual world that can be accessed using any VR device including mobile devices. An additional benefit of this world is that it emphasizes decentralization which makes it more difficult for censors to block or remove information or experiences within the VR world.
The VR world is made up of land that can be bought by users of this VR platform for real money. As stated on their website, Decentraland is not just words but more of an actual plan of action to create a fully decentralized VR metaverse. All virtual “land” will be directly owned by the community that created it. No single person or company will be able to control the world.
The virtual land is represented by ownership of Ethereum-based (ERC-20) tokens called MANA which can be purchased using US dollars, Ether, or Bitcoin.
Since Decentraland is decentralized, there are very few rules within the VR world that this community has to abide by. Some of the basic rules for this virtual reality world include a prohibition on illegal activity and no party being allowed to own more than 50 percent of the land in Decentraland.
In addition to buying land, users will be able to build homes, casinos, marketplaces, and other experiences within their 3D world. Users will be able to sell items and experiences within the world. These activities will be facilitated by tokens called MANA which will also be used as a currency for users to buy objects, buildings, and other virtual goods.
Those who do not have access to VR devices such as Oculus Rift headsets and HTC Vive can still access the Decentraland world via their web browser.
By making Decentraland a VR platform, the virtual reality world will be less accessible to those trying to censor its content as compared to traditional websites and other social media platforms such as Facebook and Twitter which are more easily censored.
The Decentraland team has opened up their Virtual Reality World by establishing a land auction where virtual land will be sold to the highest bidder. This will allow individuals who missed out on the initial MANA token sale to purchase some of this virtual reality world.
It is important to note that even though Decentraland is an open-source project, it still has a governing council that consists of developers and other members overseeing the virtual world. These individuals will be responsible for taking action against users who do not follow the community guidelines of Decentraland.
Decentraland is modeled after a famous novel written by Ernest Cline called Ready Player One that was made into a Hollywood movie in 2018. In this book, all humans spend their time in a fully immersive virtual reality world called Oasis.
This VR world is free of censorship, control, and manipulation by authorities. It is also a place where everyone can be who they want with no judgment or consequences for their actions.
This protocol-level technology will revolutionize the internet, web 3.0, and the metaverse as we know it today.
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