Since its inception in April 2018, the LAND Marketplace has proven to be secure and widely trusted by the community. The marketplace has transacted roughly $16.6mn worth of MANA in secondary sales, becoming one of the most successful smart contracts of Decentraland’s virtual economy. The marketplace is not limited to LAND and Estates either – any ERC-721-compatible non-fungible token will eventually be supported by the platform.
Right now, MANA is being used as a medium of exchange. However, it’s fundamentally different from standard cryptocurrencies. MANA is a utility token redeemed for LAND during Decentraland’s auctions. Starting in April 2019, the LAND Marketplace will begin burning 1% of the MANA in every transaction. LAND is also intended to serve as an in-world currency that players can exchange for items and experiences within the platform.
Any user who purchases MANA can bid on LAND auctions, or purchase LAND directly from other users. The goal of LAND is to be used in purchasing virtual slots of land, where users can build their own dream worlds.
The Creator Contest
In order to foster massive adoption, Decentraland is running a Creator Contest. So, if you ever wanted to truly feel like a god, look no further.
The goal of the competition is to build the most awesome scenery on Decentraland. The competition started on March 18th in conjunction with the release of Decentraland’s Builder software. You’ll have two weeks to submit your scenes and the winners will be announced one week after the end of the contest.
Builder is Decentraland’s first drag-and-drop editor based on a powerful SDK. It is a simple yet flexible interface that allows anyone to compose immersive, static scenes to host on LAND, and you can also browse through a wide range of ready-to-use 3D models. Whatever you’re crafting, you’ll find what you need in the selection of buildings, cars, items, trees, rocks, water features, and more.
The prize pool is quite generous, if you ask me. Every participant with at least one submitted scene that passes the initial quality screening will be rewarded with 100 MANA, even if he or she isn’t selected as one of the finalists.
The judges panel, composed of some of the brightest minds in AR, VR, and blockchain, will hand-pick a total of 50 scenes to be featured in Decentraland. Of these 50 scenes, five finalists will be awarded with LAND parcels situated in premium locations along with a share of the winnings:
- First place: 200,000 MANA
- Second place: 150,000 MANA
- Third place: 100,000 MANA
- Fourth place: 50,000 MANA
- Fifth place: 25,000 MANA
- The remaining 45 creators will receive LAND and 7,500 MANA each
How to participate
It’s quite simple. Just sign up with your email address and submit a scene within the next two weeks!
Let your imagination run wild, and build something for the entire community to enjoy.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.