Presented in November 2021, Decentraland is a decentralized virtual reality platform powered by the Ethereum blockchain, where users can create, experiment with, and monetize their own content and applications.
Development Timeline
Founded officially in 2015 by Esteban Ordano and Ari Meilich, Decentraland began with a “Stone Age” phase consisting of a two-dimensional world where each pixel represented a plot of land assigned to an owner who could choose its color.
The “Bronze Age” commenced in the second half of 2016, introducing the first version of the software for exploring the world as it transitioned from two-dimensional to three-dimensional space. This phase introduced the concept of Land, with property management mediated through a modified version of Bitcoin’s blockchain, and land information such as models and textures exchanged via BitTorrent.
The current phase, the “Iron Age,” represents a complete revolution. It released a development environment enabling anyone to create unique content and customize how users interact with three-dimensional objects. The universe became easily navigable through a web browser.
NFTs and Land Ownership
Decentraland operates on NFTs (non-fungible tokens), which through blockchain technology make objects and land unique and non-duplicable. The virtual world is subdivided into LAND parcels comparable to plots of terrain that can be purchased and owned. The same principle applies to OBJECTS within the world, including avatar customization and structures such as houses and buildings that can be placed on land.
Creating and Building
Upon purchasing land, users can create whatever they prefer within it. Options include constructing buildings and developing personalized ecosystems, or creating mini-games for other users to interact with. The platform’s development environment allows creation of dynamic three-dimensional content, including custom objects, texture personalization, object physics management, payment processing, and music streaming.
Companies can sponsor products, services, or events through digital billboards and create shared experiences to engage users.
Infrastructure and Current Status
The virtual world relies on Ethereum’s blockchain, one of the most significant blockchains in circulation, which records all activity within the platform including purchases and exchanges of NFT objects.
Despite being five years old at the time of publication, Decentraland remained in active development with an already-explorable world and purchasable land. The platform represents a shift in how social networks function, prioritizing content creators rather than platform owners, while providing tools for users to build an open virtual world.
Frequently asked questions
Who founded Decentraland?
Decentraland was officially founded in 2015 by Esteban Ordano and Ari Meilich.
What blockchain does Decentraland use?
The platform runs on Ethereum’s blockchain, which records all transactions and activities within the virtual world.
What can users do with purchased land?
Users can construct buildings, create personalized ecosystems, develop mini-games for other users to interact with, and use the platform’s development environment to create dynamic three-dimensional content including custom objects and streaming experiences.
