The cryptosphere is gearing up for the launch of Decentraland, the first-ever blockchain-based virtual world promising a massive crypto treasure hunt. Gamers who create an avatar will be able to enter the metaverse on Thursday, February 20, and join a four-day event where participants can explore Genesis City, a virtual world, and collect unique non-fungible tokens from a host of crypto partners.
According to the team’s announcement,
“For four days the public will scour Genesis City for NFTs, tokens, and loot redeemable for real-world products.”
The team at Decentraland says the launch represents the culmination of over two years of development. The fully tokenized economy, which runs on the MANA cryptocurrency, allows people to build 3D content and virtual scenes – from hyno wheels to hummingbirds – bridging the world of crypto, gaming and virtual assets.
Decentraland says its mission is to create a virtual world that is fully decentralized and owned by the community. It leverages cryptocurrency to power its Ethereum-based platform, creating a new economy for players, brands and studios that can build and interact with 3D content. A finite supply of virtual parcels of land, represented by a non-fungible LAND token, allows users to create and manage assets and engage in experiences in their own digital space.
Users are also expected to reap the benefits of a world beyond centralized control. Genesis City prevents a sole authority from modifying the rules, changing the virtual world’s economics or blocking someone from gaining entry.
In the run-up to the big treasure hunt, the platform already boasts over 91,000 plots of LAND traded among 24,000 users and has solicited an estimated 20,000 creative submissions. The public launch will reportedly put $100,000 in prizes up for grabs.