(Pre ANN) Decentraland A blockchain-based virtual reality world
A virtual world that runs on open standards
Decentraland is an open source protocol to create and explore shared experiences in virtual reality
A public virtual world should be ruled by open standards, shielded from the agenda of any central organization.
In Decentraland, users have full control over the content of the land they own and keep all the proceeds from the value they generate for other users.
To make this possible, Decentraland uses blockchain technology as an unforgeable record of ownership.
Land is modeled as a simple grid, and a Bitcoin-like proof-of-work algorithm is used to allocate pixels to users.
Land is modeled in a 3D space. Blockchain and torrent full node. World Editor. Unity Browser.
August 8 through 15, 2017
Mana Token Sale
An ERC20 token, MANA, will allow users to claim parcels of LAND and interact with each other within Decentraland.
The first opportunity to claim land will take place, along with the Beta launch of the Iron Age.
Add multiplayer support with avatars and live chat. Allow custom items and scripting on the land you own.
A full-fledged 3D world, with full VR support and customization of the laws of physics. Live in the blockchain.
Announcing Decentraland’s Genesis City
How to claim, develop, and monetize your LAND.
- A peer-to-peer network, allowing users to interact.
- A micropayment system, creating an in-world economy.
- A land management interface to develop, buy, rent, and sell LAND.
- A scripting language so landowners can program custom experiences.
By participating in our token sale, you’ll be able to buy ownership in the first decentralized VR platform. IDC projects the AR and VR markets to grow from from $5.2 billion in 2016 to $162 billionby 2020. Decentraland aims to be a major player in that growth.
When Can You Claim Your LAND?
Our ERC20 token, MANA, will be directly exchangeable for LAND. In Q3 2017, we will announce the Terraform Event, after which you can exchange your MANA for LAND.
Details of Your LAND
Decentraland is a connected world formed by parcels of LAND. When claiming LAND, there are a few things to note:
- Each parcel has an area of 100 square meters (roughly 1,080 square feet).
- You can only claim LAND that is adjacent to previously claimed parcels. This improves the value of your LAND as it will be connected with the rest of the world.
- You have complete control: only the LAND owner can define the content of their parcel.
- LAND ownership is transferable. You can buy, sell, rent, or lease LAND at your will.
Blockchain Partnerships Give You Flexibility
For example, you will be able tomonetize your property through rentals, leases, and sales. To facilitate a secondary market, we’ve partnered with disctrict0x. Their decentralized marketplaces will allow you to manage your LAND as an investment.
To encourage development, the Decentraland team is designing a layout for the first metropolis: Genesis City.
A fraction of the raised funds will be used to allocate plots as public spaces, streets, parks, landmarks, and other value-add spaces. We are incorporatingideas and feedback from the community to help determine the final layout of the city. Afterward, artists and creatives will be invited to populate these spaces.
The community is already hard at work. Check out our Github repository to pitch your own ideas and see what’s already been suggested.
A proposal from the community for a city-wide transportation system.
Districts and neighborhoods will naturally form around shared interests. For example, an ‘Entertainment District’ might include VR theaters, live musical performances, arcades, racetracks, and casinos. Organizations like the Voltaire House are looking to create shared workspaces, potentially leading to a ‘Business District’.
We have already received interest from multiple communities and organizations that want to develop LAND within Decentraland. To accelerate adoption prospective communities looking to transition to Decentraland will be aided in this process.
We’re building Decentraland to give users and developers what they really want: full control. Our token sale is an exciting opportunity to buy into the exponential growth of VR. We’ll see you in the metaverse!
Explore Your New World
Decentraland New Token Sale Date: August 17th
The Decentraland token sale has been rescheduled to ensure complete regulatory compliance
A few major blockchain events have taken place over recent weeks. On August 1st, Bitcoin experienced a hard-fork, giving birth to Bitcoin Cash. Separately, the SEC provided much-needed guidance on token sale regulation.
After thoroughly reviewing the latest regulatory announcements, we’re reassured that our MANA token is not a security. We take regulatory compliance seriously, and are allocating some extra time to consult with our legal teams. We’ve revised our token sale dates to reflect these extra measures.
Our amended crowdsale schedule now begins on August 17, 5:00 PM PST / 8:00 PM EST in the US, August 18, 1:00 AM in the UK, and August 18, 8:00 AM in China. All other details of the crowdsale will remain the same.
During the extension period, Decentraland will continue to actively work with advisors and legal entities to ensure we maintain complete regulatory compliance.
We appreciate the community’s patience, understanding, and overwhelming support as we continue to build Decentraland into a truly shared, decentralized virtual reality world.
Decentraland Reaching a wider audience
Doing our best to let as many people participate as possible.
The past two months have been pretty hectic for the Decentraland community. We’ve had the pleasure of meeting and working with amazing people along the way, and a very strong community has come together to give birth to the open metaverse. We’re left speechless by the public reception of our project, and we couldn’t feel more grateful.
Last week we decided to give our community the ability to guarantee their spot in our token sale by creating a Community Whitelist. Once again, the support reflected in this initiative blew us away. Over a thousand community members signed up.
An aggressive phishing attack started making the rounds throughout our community, which led us to cancel the whitelist as a preventive security measure. It was a tough decision, but our community’s safety remains our top priority.
What became clear is that the community’s intention to contribute is stronger than expected. A significant amount of people from our community reached out to communicate their worry about not being able to make it on time for the sale.
We are humbled by the global demand for MANA and, in the spirit of launching our virtual world with the widest audience possible, we intend to let as many people participate as possible. This is why we have decided to increase the hard cap by $5M. While not a guaranteed solution, this significantly increases the community’s chances of securing some tokens.
Those who signed up to the Community Whitelist will be guaranteed the 40% discount corresponding to the first block of the sale, regardless of when they contribute.
We hope to see you when the token sale starts on August 17th at 8pm EST.
Once again, we appreciate the community’s overwhelming support as we continue building Decentraland.
Introducing Decentraland’s Advisory Board: Experts in Blockchain, Social Platforms & P2P Networks
As we approach our token sale, we wanted to give the community more background on our Advisory Board. These are the people who have dedicated their time and expertise into helping us build the first decentralized VR platform.
Decentraland is poised to disrupt numerous markets. Some, like social networking, are already massive. Others, like VR, are just getting started. We’re very pleased to have four veterans from a wide range of industries supporting Decentraland’s development.Xiaolai Li — Founder at INBlockchain
Founder at INBlockchain
One of the largest holders of BTC, Li Xiaolai is the founder of INBlockchain, China’s premiere blockchain venture firm. Xiaolai is also the cofounder of Yunbi, one of the world’s largest cryptocurrency exchanges, and Press.One, a decentralized publishing platform. Prior to INBlockchain Inc, Xiaolai was also an early investor in EOS, Sia, and ZCash.
Xiaolai provides the Decentraland team with the expertised required to enter the crypto markets in Asia.Jake Brukhman — Co-founder at CoinFund
Co-founder at CoinFund
Before co-founding Coinfund — a blockchain research company and private investment vehicle — Jake was a Partner and CTO at Triton Research, an intelligence platform for research on private companies.
Jake provides the Decentraland team with expertise in token sales, token mechanics, economics, investor relationships, and more.Luis Cuende — Project Lead at Aragon
Project Lead at Aragon
Despite his young age, Aragon’s Luis Cuende is one of the most respected leaders in the blockchain industry. Luis was named the best underage European programmer in 2011, is a Forbes 30 Under 30, an MIT TR35, and was an Advisor to the VP of the European Commission. Luis was the co-founder of Tim Draper-backed blockchain startup Stampery. His project Aragon recently raised $25 million in ETH in a mission to disintermediate business by providing a platform for decentralized organizations.
Luis provides the Decentraland team with expertise in smart contracts, decentralized governance, network effects, and product vision.Diego Duval — Former CTO at Ning
Former CTO at Ning
Diego Doval is the creator of n3xt, an upcoming productivity platform. Prior to n3xt, Doval was CTO of Ning, Inc, the company founded by Marc Andreessen, helping it grow from launch to 100 million users. He recently co-authored the Andreessen-Horowitz AI Playbook.
A computer science PhD specialized in self-organizing networks, Diego provides the Decentraland team with expertise in consumer-facing social platforms, large-scale software systems, self-organizing networks, peer to peer technologies, and dynamic systems.
We’re currently busy getting ready for our upcoming token sale. We hope you’ll join us.
Explore Your New World
Decentraland Dev Update - Terraform Auction Updates,Product Plan & More Updates
Terraform Auction, Decentraland Editor and an alpha Web Client.
October was a great month at Decentraland. It started off with the addition of Ben Nolan to our Dev team after the launch of the Terraform Registration app. Last week, we published the alpha version of our A-Frame-based parcel editor and on-boarded another great engineer: Michal Takac. Finally, we presented our project progress at the San Fransico WebVR/AR Meetup and got our MANA token listed on various exchanges.
November is looking to be even more exciting!
Terraform Auction Updates
One of the most important projects we’ve been working on is the Terraform Auction. We are looking forward to seeing how the initial land plots will be distributed and are excited about what kinds of experiences people are getting ready to build in Genesis City. The expectations are high, which is why we’ve been working to build a strong foundation to power the auction.
The auction will be conducted through an off-blockchain process with the goal of saving on gas costs and avoiding potential confirmation issues. For each bid received, we’ll issue a receipt that will be cryptographically signed and have a sequence number. This will allow everyone to check that their submission was correctly included in the final result. The application will be open source, and the process independently verifiable: we will publish the database contents so that anyone can replay each step of the auction and verify the process.
We are in the process of finishing up the design of its user interface, and are planning to have it ready by mid-November. If everything goes as expected, we intend to conduct a dry-run of the auction by November 20th. Stay tuned for more details!
Governance and Districts
We are also discussing and working on the design of decentralized governance methods for the districts. We are currently gathering feedback on what district participants need: some issues include governance models and dApps for ruling over content or land ownership, among others. Given the early stages of decentralized governance tech, a more centralized approach is our inevitable fallback: for the time being, districts will centralize decisions on an individual or group of district leaders. We will publish a guide on how district leaders can use a multisignature wallet to own and control their parcels.
Another exciting project in the works is the review of the first smart contract that interacts with our LAND smart contract. This will facilitate a way for people to lease land and was contributed by Alonzo Coeus. Districts may also use this work as the base layer to enable their members to modify only the content on parcels assigned to or owned by them, yet allowing the district to take back control of the parcel, in case it is not aligned with the district’s purpose.
Product Plan and Updates
Launching the alpha version of the editor is the first of four steps towards having an alpha version of the Decentraland Iron Age.We are already uploading content to IPFS. The next step is to publish the information on the LAND contract, following the DSP20 parcel spec.
Our next step is to work on making the Decentraland Editor publish content to the Ethereum network, by registering it on the LAND smart contract we’ve been working on.
The third and fourth steps concern updating the client to load data from IPFS/IPNS, and have it work in sync with the LAND Smart Contract. We will be starting to use the Decentraland Specification Proposal #20, regarding the format required to fully describe a land parcel’s content.
If all of this goes smoothly, then an alpha version of the Iron Age will be up and running by December. At that point, the pioneers of Decentraland will be able to start working on their parcels. All in all, we’re pretty close to having a fully functional prototype with which we can already start building!
As a final note, we want to thank all of you who helped us through this process, especially to those involved in building the districts! We are very glad this is all coming together and we hope to see you soon in the metaverse.
Remember that you can stay in touch with us through:
Decentraland Dev Update- Terraform Registration, Web Client and Editor, EthAlarm , Genesis City Auction & More
Users can now use their Ledger hardware wallets to participate in the Terraform Registration and stake MANA to either the Genesis City auction or one of the many community districts. We also fixed a recurring problem that led to transactions not being accounted for. Finally, we are about to finish a feature that will enable advisors, early contributors, and the team to use their vested tokens in the Terraform.
Genesis City Auction
Our team began the testing process for the land auction web app (which is being deployed to the Ropsten testnet network soon!). We will be releasing the source code and starting with the security audits next week.
Web Client and Editor
We’re at the final stage of integrating the web client with the scene editor. This is our top priority, as it will allow early users to start experimenting with creating and uploading content to [testnet] land. Our goal is to release early and nourish ourselves from everyone's feedback to iterate fast.
The response to EthAlarm was outstanding, and we are looking into ways to make this dApp more scalable. Thus, we’re temporarily taking down the public instance of EthAlarm to improve its performance and reliability.
District Governance Framework
We are working with District leaders to help organize, develop and deploy district projects. Currently, we are building out a District Governance Framework that will act as a preliminary guide in which the roles and responsibilities of district leadership and participants are outlined. This is a collaborative effort between the core Decentraland team and various District leaders.
We started testing a small application that will allow users to choose land parcels and open them in the editor to work on them and also upload their content to the web client. Codenamed “loader”, this dApp allows you to claim test land in Ropsten and launch the Editor to work on your land.
Keeping up to date with the latest developments
Stay in touch with us through:
Decentraland Project Updates — Bounties, Introducing Crypto-Collectibles, Partnering With Bancor & Many More
News and updates from the Decentraland project
The past few weeks have been filled with several exciting milestones. We completed our highly-anticipated Terraform Event, announced multiple partnerships, and outlined how crypto-collectibles can be integrated into Decentraland. Here are the highlights:
Genesis City Auction Successfully Completed
Decentraland’s Genesis City consists of 90,000 land parcels, with approximately 36,041 parcels staked to community districts. On December 15th, we launched the Terraform event, or land auction, to distribute the remaining parcels to our community. We quickly saw impressive levels of participation, with bids on some parcels reaching 600,000 MANA. Winning bids totaled 161,483,050 MANA, all of which has just been burned (as shown here). At the time of writing, this represents about 16% of the circulating MANA supply, and a total spend of over $28M USD, making this the largest ever virtual land sale.
The creation of the first blockchain-based metaverse is now underway. Users are already building experiences like Decentraland University , crypto-exchanges, Vegas City, Crypto Valley, the Fashion District, and much more.
Just as importantly, we're currently working on returning all unspent MANA to users wallets. This will be taking place throughout the rest of the day. Also, all lands will be distributed to their corresponding owners over the weekend. Finally, if you are a district leader, we will get in touch with you next week to help you arrange the multisig wallet that controls your district's land.
Over the next couple of weeks, we will be releasing the first version of the LAND wallet, which will enable you to visualize your holdings. By the end of Q1, this wallet will be a fully-fledged decentralized exchange for the LAND.
Learn More: Decentraland’s Terraform Summary.
MANA Token Information
To help our community better understand the MANA token, we are launching a transparency dashboard. This includes a summary of the most important stats, such as total supply, circulating supply, and how these may be affected by the aforementioned (and all future) MANA burn, as well as by vesting contracts.
Major Crypto-Exchanges Join the Terraform Event
Existing businesses have flocked to Decentraland with the goal of developing realistic, immersive experiences for their growing communities.
The value that Decentraland can bring to these platforms was readily apparent to their management teams. By participating, these exchanges are securing a place within Decentraland to build a virtual environment for their millions of users.
MANA Bounties for 3D Designers on Ethlance
To promote development within Decentraland, we partnered with Ethlance to connect landowners with a community of freelance 3D modelers and designers.
All you need to do is head over to the Find Candidates page on Ethlance and select “Decentraland Scene Developer” in the skills bar. From there, you will be able to access a list of 3D experts to help you create your virtual dream project.
To promote participation, we offered a 1,000 MANA reward to the first 20 qualified designers who signed up. We were pleased to see 3D experts sign-up from all over the world, including the United Kingdom, the United States, and Singapore.
Crypto-collectibles are cryptographically unique, non-fungible digital assets. Unlike cryptocurrencies, which require all tokens to be identical, each crypto-collectible token is unique or limited in quantity.
The most famous example is the CryptoKitty. Within a few weeks, CryptoKitties hit over $12 million in sales, accounting for 14% of Ethereum’s transaction volumes.
Decentraland is positioned to benefit from the explosion of crypto-collectibles as it offers an immersive space to explore, purchase, and showcase unique digital assets. To this end, we partnered up with DDEX to foster the development of a decentralized exchange of collectible items.
Partnering With Bancor to Increase MANA Liquidity
On December 14th, we announced a partnership with Bancor to create a joint MANA/BNT Token Relay — a decentralized liquidity pool of MANA and BNT, enclosed in a Bancor-compliant “Smart Token”.
This Token Relay (which is already active) has two connector balances, one in MANA and one in BNT, each at a 50% weight, enabling users to quickly transform ETH or BNT (or any other token on the Bancor Network) into MANA through a widget that will reside on our core products.
This partnership marks a huge step forward in opening Decentraland to the world. The implementation of Bancor’s Token Relay will dramatically lower barriers to entry as you no longer need an external exchange to acquire MANA.
Building Crypto Valley — A virtual hub for the blockchain industry
On December 18th, we closed a deal with Aelf and FBG Capital to build a digital space within Decentraland called Crypto Valley. By building Crypto Valley (a virtual Silicon Valley), Decentraland is positioned to attract the interest of additional blockchain projects and investors.
In this digital city, projects can form collaborative workspaces, hold meetings, announce breakthroughs directly to their communities, connect with a global investor base, and interact with potential partners. This could change the way blockchain projects are created, funded, and managed.
Partnering With RCN to Bring Credit Loans to Virtual Businesses
We’re preparing for an economic boom within Decentraland. To meet the needs of our growing virtual economy, we partnered with RCN to provide capital to Decentraland endeavors.
RCN is a global peer-to-peer credit network based on cosigned smart contracts which are backed by Ripio. This strategic partnership establishes a disruptive channel between virtual reality and global credit services.
Partnering With Render Token to Provide Real-Time 3D Graphics
Our partnership with OTOY’s Render Token (RNDR) will power the ever-evolving landscape of Decentraland.
Decentraland’s virtual ecosystem is a perfect match for the distributed network of GPUs provided by RNDR, and will further our mission of decentralizing the infrastructure that powers our virtual world. We’ll be releasing more updates as this project develops and takes shape.
Keep up to date with the latest developments
Stay in touch with us through: