Decentraland looks to be the decentralized VR creators paradise built on the Blockchain we have all been dreaming of since last year.
Gamers spend upwards to 20 hours a week building, gathering, teaming up with other gamers, and fighting over digital good in virtual worlds owned by central organizations like Facebook and Blizzard. As VR grows we see value in Virtual worlds like AltspaceVR pop up but issues still exist like l the imitations of what 'rules' can be modified as well as issues of the ownership of content built by the users.
The lack of a true 'creators paradise' as well as the incentive to invest time and effort creating unique VR experiences has created some of the lack of content issues VR is currently facing.
Decentraland is looking to tackle the creators paradise head on with its distributed platform for a shared virtual world in which participants can navigate, discover, and interact with other people and entities. Ownership of virtual land is blockchain-based and the land itself is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract that can be acquired by spending an ERC20 token called MANA.
To fund the continued development of the platform a token sale has been announced for August. https://blog.decentraland.org/the-decentraland-token-sale-terms-81861704c086
The platform could very well help to create those Ready Player One ecosystems that VCs are expecting today without understanding the massive leaps VR needs to make. It can also help make the Blockchain more appealing to content creators looking for a new avenues of monetization and discoverability.
Also I am pretty sure there will be porn on there...and the Decentraland team is aware of how complicated this may be in a decentralized virtual platform as noted in their white paper. This is a discussion I see debated very much in the early stages of the platform.
For many Blockchain and VR are sexy silicon valley buzzwords, for many more they are potentially the backbone of a new ecosystem of trade, information, financial and societal growth just like the Internet was promised to be. Also much like the internet it may still be a new platform for adult content and cat videos. I personally am trying to be the cat king of Decentraland.