Decentraland is one of the first decentralized 3D virtual reality (metaverse) platforms operating on the Ethereum blockchain, where users can acquire digital land, create content, interact with it, and generate revenue. The platform's currency is the ERC-20 token MANA, and users use MANA to conduct all transactions within the platform, such as buying and selling land and purchasing clothing and accessories for avatars. Land in Decentraland is represented by NFTs called LAND and is entirely user-owned; meaning everything you own in the game is registered on the blockchain and can be bought and sold without needing anyone's permission.
Decentraland is a virtual world focused on both entertainment and creativity. Launched to the public in 2020, this platform allows users to connect through their browsers, create their own avatars, participate in events, and socialize with the community. By giving users full control over their digital assets, the platform promises a metaverse experience fit for the Web3 era. Let's take a comprehensive look at what Decentraland is, how it came to be, why it's important, and what you can do in it.
Decentraland's Definition and Origins
Decentraland is defined as a decentralized virtual world. It runs on the Ethereum blockchain and is a platform where users from around the world can come together to create content, play games, and trade digital assets. The platform's native currency, the MANA token, is the backbone of the Decentraland economy, used to buy and sell digital assets such as land parcels (LAND), wearables, nicknames, and to pay for services. MANA also serves as a governance token, allowing the community to vote on platform-related decisions.
The Decentraland project entered development in 2015, and its first whitepaper was written by Yemel Jardi and Manuel Araoz, along with Esteban Ordano and Ariel Meilich. The project's primary motivation was to create a digital world fully owned and controlled by users, an alternative to the restrictions found on traditional centralized gaming platforms. Ordano and Meilich aimed to resolve the concept of ownership in virtual worlds with blockchain, giving users real rights over their content and assets. Thus, a platform was born that combines the allure of virtual universes like Second Life with decentralization. Decentraland was initially prototyped as a 2D pixel world, but its vision was always to establish a metaverse where users could shape their land as they wish, operating without a central authority.
In 2017, Decentraland held an initial coin offering (ICO) to accelerate project development and reach a wider audience, raising approximately $26 million in this sale. Later that year, the platform's early beta was announced, and the first digital land sales were conducted. The primary motivation for this development was to enable users to experience a sense of ownership in the digital world and to benefit economically from their content.
Decentraland's History: Major Milestones
Decentraland has achieved many significant milestones from its conception to the present day. Here are some key milestones in the platform's history:
- 2015 - Project launch: Development of Decentraland began under the leadership of Ariel Meilich and Esteban Ordano. This year, the idea of a blockchain-based virtual world blossomed, and the project was conceptually realized by the team. In the first prototype, users held rights to simple pixel plots of land recorded on the blockchain, laying the foundation for the concept of decentralized ownership.
- 2017 - ICO and early release: In August 2017, the Decentraland team held an ICO for the MANA token, raising $26 million. During the same period, the first land auction, known as the "Terraform Event," was held, and 90,601 parcels of land were offered for sale on the first map, called Genesis City. During this auction, users acquired digital land by spending approximately 161 million MANA, and all spent MANA was burned due to the platform's deflationary nature. Towards the end of 2017, the beta version of Decentraland was launched, and the first users began testing the virtual world.
- February 2020 - Public Launch: After several years of development and community engagement, Decentraland was made available to all users in February 2020. Anyone could log in to the platform with an Ethereum-compatible wallet, create their own avatar, and explore the world. With this public launch, platform governance, previously managed by the Decentraland Foundation, began to be gradually transferred to the community. In 2020, the Decentraland DAO (Decentralized Autonomous Organization) was established, establishing a governance system where MANA and LAND holders could vote on critical platform decisions through smart contracts. During the DAO's establishment, 333 million MANA was burned (removed from circulation), creating the DAO treasury. 2
- 021 - Metaverse Explosion and Major Partnerships: 2021 was a turning point for Decentraland, driven by both the popularity of NFTs and the mainstreaming of the metaverse. With Facebook changing its name to Meta, interest in virtual worlds increased, and Decentraland saw significant jumps in user numbers and market capitalization. In April 2021, land prices on the platform reached levels ranging from $6,000 to $100,000; the value of the MANA token also rose to $5.79 during this period following developments like Facebook's move. In November 2021, a virtual real estate company called Metaverse Group demonstrated the potential of the virtual real estate market by purchasing a single parcel of land in Decentraland for a record $2.43 million. That same year, Sotheby's, the world's oldest auction house, established the first metaverse auction house by opening a digital gallery in Decentraland's Voltaire Art District. During this period, major brands such as Samsung, Adidas, Atari, PricewaterhouseCoopers, and Miller Lite began appearing on Decentraland, organizing events and purchasing virtual properties. Also at the end of 2021, the first large-scale music concerts and festivals were held on Decentraland; names like the famous DJ Deadmau5 and singer Grimes brought together thousands of avatars by giving virtual concerts on the platform.
- March 2022 - Metaverse Fashion Week: In the first months of 2022, Decentraland continued to host major events. In March 2022, the world's first "Metaverse Fashion Week" was held on Decentraland. Fashion giants such as Dolce & Gabbana, Tommy Hilfiger, and Estée Lauder appeared on the platform with virtual fashion shows and events. This event demonstrated that the virtual world could be used not only in gaming and art, but also in commerce and marketing. 2022 also brought with it technical discussions; While reports emerged in October 2022 that Decentraland's daily active user count was very low (some even claimed that only 38 wallets were conducting transactions in a single day), the team clarified that the definition of "active user" only included engaged wallet addresses, indicating that the actual daily visitor count was actually around 8,000.
- October 2024 - Platform updates: As a constantly evolving platform, Decentraland released a significant update in 2024. The beta version of the desktop client application, called Decentraland 2.0, was launched in October 2024. This client aimed to improve the user experience by introducing new features such as higher performance, additional game missions, and mini-games, as an alternative to the browser-based experience. Simultaneously, protocol updates were made throughout 2023 and 2024 to enhance the platform's technical infrastructure. For example, the Archipelago communication protocol was updated to optimize network interactions by dividing users into "islands" based on their location. As of 2025, Decentraland maintained its leading position in the metaverse and continued its community-driven development through the DAO.
- November 2025: Although there are no major developments in Decentraland as of 2025, the MANA coin price is around $0.2.
Why Decentraland is Important?
There are many areas where Decentraland is important in the cryptocurrency world. Below are some examples:
Ownership and User Control
The most important feature that distinguishes Decentraland from similar virtual world platforms is that users have full ownership of their digital assets. In traditional online games, items controlled by the game developer become owned by users as NFTs in Decentraland. If you own land, ownership of that land is registered as yours through Ethereum smart contracts. Similarly, the clothes and accessories your avatar wears, and even the nickname you use, reside as NFTs in your blockchain wallet. This means that no one (not even the platform's founders) can take away or change your digital assets without your permission. User control isn't limited to asset ownership; you also have a say in the platform's future. Decentraland empowers users to shape their own worlds by delegating decision-making to the community through the DAO. This is a practical example of the Web3 philosophy, which prioritizes user rights in the internet age.
Web3 and its Role in the Metaverse Vision
Decentraland combines the principle of decentralization, a cornerstone of Web3, with the concept of the metaverse, a popular use case. At a time when Facebook (Meta) and other tech giants are investing in the metaverse, community-driven platforms like Decentraland offer a free and democratic virtual universe in contrast to centralized alternatives. This platform is a testbed demonstrating that in the future of the internet, users can not only be content consumers but also content owners and producers. The Web3 vision emphasizes that data and assets should belong to individuals; as a concrete implementation of this vision, Decentraland has created an environment online where you can truly own your digital identity, belongings, and even your land. Furthermore, in a world where online interaction has become increasingly important during and after the pandemic, Decentraland has proven the potential of the metaverse by providing an innovative environment for virtual concerts, exhibitions, and meetings.
Open source, DAO structure, and the effect of decentralization
Decentraland's software is open source and open to contributions from community developers. The platform is released under the Apache-2.0 license, meaning the code is transparent and anyone can review and contribute. This open development model increases the platform's reliability and encourages innovation. Furthermore, Decentraland's governance is distributed between the Decentraland Foundation and the DAO: The Foundation plays a role in technical development and infrastructure, while MANA and LAND holders determine platform policies through the DAO. For example, in 2018, a community vote canceled the plan to increase the MANA token with an 8% annual inflation rate, switching to a fixed supply. Furthermore, governance decisions in 2021 ended the practice of burning 2.5% fees on marketplace transactions, and decided to transfer these revenues to the DAO treasury. Such developments demonstrate the reality of Decentraland's decentralized structure and that community decisions can directly shape the platform's economics and rules. In short, Decentraland is a living ecosystem that demonstrates the practical application of the concept of "decentralization" and holds a special place among blockchain-based projects.
Decentraland's Uses and Token Economy
Decentraland boasts a rich range of use cases and a unique economic model, adding value to the coin. Below, you can find the platform's primary use cases and the role of the MANA token:
What is virtual land?
- Decentraland's main map, Genesis City, consists of 90,601 LAND parcels.
- Each parcel is an ERC-721 NFT, approximately 16m x 16m in size, and is located on the map with (x, y) coordinates.
- The user who acquires LAND has full ownership and control rights over that parcel.
How to buy land?
- An Ethereum wallet (e.g., MetaMask) and sufficient MANA are required.
- Land is purchased with MANA on the Decentraland Marketplace; a smart contract transfers MANA to the seller and the LAND NFT to the buyer.
- A small gas fee is also paid on the Ethereum network.
- LAND can also be traded on secondary NFT markets like OpenSea.
What does ownership offer?
- Using the Builder or SDK, you can build content such as houses, galleries, playgrounds, and stores on your land.
- You can combine plots to create larger Estates and manage them as a single property.
Value, trading, and rental income
- Land value varies depending on location and demand, with central areas generally being more expensive.
- Plots sold for very low prices in the early years reached tens of thousands of dollars in 2021, as seen in Metaverse Group's $2.43 million purchase.
- Landowners can sell their parcels at any price they choose or earn passive MANA-based income through a rental system; a portion of transaction fees goes to the DAO.
Game and interactive exchanges
Decentraland isn't just static structures; it's an interactive world filled with user-developed minigames, puzzles, tracks, and quests. Developers can build adventure games, races, quest systems, and reward-based events on the parcels using the Decentraland SDK. Social gaming spaces like Tominoya Casino, arcade games, and VR escape rooms are popular on the platform. Smart contracts and scripting allow for leaderboards, prize distributions, and competitions for MANA/NFT winnings. Competitions like Game Jam also encourage the community to create new games.
Interactive spaces
Beyond games, many parcels include interactive exhibitions or experimental spaces. Scenes like giant mazes, color-changing objects, and animated installations can be programmed with the scripting API. This allows users to spend time playing and experiencing, rather than simply browsing.
NFT Exhibitions
Decentraland is a global stage for digital art and NFT exhibitions. Users can display their works, such as CryptoPunk or SuperRare, in their own galleries, and virtual museums can be created with presentation tools like 3D sculptures and high-resolution frames. The Museum District is a hub for community galleries. The opening of a gallery in Decentraland by Sotheby's in 2021 generated significant buzz in the art world. The annual Metaverse Art Week keeps the platform's art scene alive with exhibitions, panels, and workshops. NFT collection launches, concert launches, and community events are also common. Artists can mint their works and sell them on the Marketplace, generating revenue.
Social spaces and events
Decentraland is a social universe; concerts, festivals, themed parties, and community gatherings are held regularly. The 2021 Metaverse Music Festival and famous DJ performances brought together thousands of users. The platform features university campuses, developer workshops, crypto community clubs, and conference spaces. Brands also participate in events, such as Samsung's virtual store and the runways of Metaverse Fashion Week. Daily socializing is also common: Genesis Plaza is the first stop for new users, while bars and clubs offer spaces for chatting and socializing. Text and voice chat allow people from all over the world to connect easily.
MANA Burn
MANA was initially produced with a supply of ~2.8 billion; this supply has diminished significantly over the years thanks to burn mechanisms. Burning is the permanent removal of tokens from circulation by sending them to an inaccessible address. Major burn examples:
- 2017 Land Auctions: 161 million MANA spent in initial sales, followed by 109.5 million MANA burned (totaling ~270 million).
- 2019 DAO launch: 333 million MANA burned for the DAO treasury.
- Marketplace fees: For a period, 2.5% of all marketplace sales were burned. In 2021, this fee was redirected to the DAO as revenue instead of being burned.
- Name registration fee: 100 MANA for name registrations was initially burned in full; in 2023, this began to be transferred to the DAO treasury.
- Wearable sales: Smaller burns were implemented in exceptional periods; these were later converted to DAO revenue.
Decentraland's Founders and Developer Team
The people behind Decentraland are comprised of experienced individuals in the crypto and software worlds. The project's founders are Argentinian entrepreneurs Esteban Ordano and Ariel Meilich. Founded in 2015, Ordano and Meilich combined their blockchain expertise with the idea of virtual reality to create this innovative platform.
- Ariel Meilich: Served as Decentraland's first project leader (CEO). Meilich has an entrepreneurial background and, after the project matured, left his position to hand over day-to-day management to the community and became an advisor. After Decentraland, Meilich continued his ventures in the gaming and NFT space, launching projects such as Big Time Studios. Meilich, who organized the first blockchain gaming conference "Nifty" in 2018, is also known for his work in building communities in the crypto industry.
- Esteban Ordano: As Decentraland's technical leader (CTO), he established the platform's technology infrastructure. Even before Decentraland, Ordano was active in the cryptocurrency sector; he worked as a software engineer at BitPay and specialized in decentralized technologies. He also served as an advisor on the Matic Network (Polygon) project, an Ethereum scaling solution. Ordano played a critical role in the development of Decentraland's smart contract infrastructure and led the implementation of an NFT-based land system on Ethereum. As of 2020, Ordano stepped down from his day-to-day duties, remaining as an advisor, leaving project management to the Decentraland Foundation and the DAO.
- Other team members: Yemel Jardi and Manuel Araoz, who co-wrote Decentraland's whitepaper with Ordano and Meilich, made significant contributions to the project's early development. Manuel Araoz is a well-known figure in the cryptography and blockchain community and was among the developers of early blockchain applications such as "Proof of Existence." These experienced team members were instrumental in shaping Decentraland's vision.
Although initially developed by the founding team, Decentraland has now become an open-source project. Development of the platform is carried out by the nonprofit organization Decentraland Foundation and volunteer developers worldwide. The code repository is available on GitHub, and contributions come from the global community. Additionally, community developers are funded through grant programs allocated through the Decentraland DAO to develop new features, games, and tools for the platform. This allows the platform to evolve through the collective efforts of the user community rather than a specific company.
Frequently Asked Questions (FAQ)
Below are some frequently asked questions and answers about Decentraland:
- How to join Decentraland: Joining Decentraland is quite easy; simply go to decentraland.org in your browser and click the "Play" or "Get Started" button. The best way is to connect an Ethereum-compatible wallet like MetaMask. After connecting the wallet, you create your avatar and enter an experience where all your earned assets are permanently owned. You can also explore the world without a wallet in guest mode; however, your purchased assets are not protected in this mode, and you won't have access to features like governance. A mid-range PC is recommended because the platform uses 3D graphics; if you want to improve performance, you can also opt for the official desktop client.
- What is required to buy land in Decentraland?: To own land in Decentraland, you need an Ethereum wallet and a small amount of ETH along with MANA. Land is purchased through the official Marketplace; After connecting your wallet, you can select a land plot you're interested in by viewing the available plots on the map. Upon purchase, the smart contract transfers MANA to the seller, and the LAND NFT is transferred to your wallet. This gives you full ownership of that plot. Buying land isn't mandatory, but it's a necessary step if you want to build your own content or acquire digital real estate for investment purposes.
- Where to buy MANA: The most practical way to acquire MANA tokens is to buy from popular exchanges like Binance, Coinbase, Kraken, BtcTurk, or Paribu. After depositing funds into your account, you can buy the desired amount by trading the MANA/TRY or MANA/USDT pairs. If you prefer a decentralized method, you can also exchange MANA for ETH on Uniswap. However, gas fees may be higher. Remember that MANA is an ERC-20 token, and you should store the purchased tokens in an Ethereum-compatible wallet such as MetaMask, Trust Wallet, or a hardware wallet.
- How do developers create content?: Decentraland allows both non-technical users and developers looking to develop advanced projects to create content. Non-coding users can use the Builder tool to design scenes using drag-and-drop, creating small galleries, cafes, or event spaces. For more advanced content, the TypeScript-based Decentraland SDK is used. The SDK gives developers the freedom to add gameplay mechanics, create interactive objects, write custom logic, and develop mini-games. Creators who want to create their own 3D models can import objects they designed in tools like Blender or Maya into the platform. This creation process often creates economic opportunities; minting wearable designs as NFTs and selling them on the Marketplace can be a significant source of income.
- Which wallets are supported?: Decentraland works with many Ethereum-compatible wallets. The most common method is to install MetaMask as a browser add-on, and users confirm transactions directly through this wallet. Mobile users can connect apps like Trust Wallet, MetaMask Mobile, or Rainbow via WalletConnect. Those seeking greater security can manage their assets by integrating hardware wallets like Ledger or Trezor through MetaMask. It's crucial that the wallet used supports ERC-20 and ERC-721 standards. While guest access is possible, connecting a wallet is essential for a permanent Decentraland experience.
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