Digital currency has become available for virtual land mortgages

Digital currency has become available for virtual land mortgages
Nov 7, 2018 by Rico Wise

The implementation was successfully managed thanks to a collaboration, entered into by Decentraland, a VR platform based on Ethereum blockchain, and the Ripio Credit Network, an all-round p2p digital currency lending platform.

Decentraland was designed as a dApp, which intends to establish the infrastructure for a three-dimensional virtual world, which has limited space and was divided into 10 sq.m. parcels, representing every such parcel with a dedicated LAND token, which can be purchased or traded at the network’s marketplace.

Game devs are enabled to create games and various different apps using their parcels, utilizing the Decentralized SDK for that, and, as soon as the network gets a proper release, customers will be enabled to utilize virtual reality for exploration of the VR and engage in an interaction with such apps.

Decentraland is still lagging behind a number of significant releases that would help achieve the project’s aims, although both developers and speculators have been busy financing the LAND currency big time. Only this week, a single customer has contributed as much as 215,000 US dollars in exchange for a 126-parcel estate.

Currently, because of the Decentraland’s collaboration with Ripio, customers will not have to pay such large sums in one go, especially MANA, which is a native Ethereum altcoin of the network.

According to the statement of the project itself, Decentraland was designed to facilitate the decentralization process for the breathtaking VR world. The aforementioned collaboration will assist the company in the exercise of full commitment to the set goal, while the virtual land trading activities, serving as the foundation for all the experience customers are about to have in the virtual reality of the platform, will not simply undergo the process of decentralization. Instead, the trading activities will be performed utilizing the worldwide-reaching credit platform based on blockchain innovations.