The virtual land selling for millions
September 7, 2018 -- Prospectors are moving into a city that doesn’t exist, spending millions of dollars buying up land parcels in the virtual city of Decentraland.
Decentraland is a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetise content and applications. Land in Decentraland is permanently owned by members of the community, giving them full control over their creations. Users claim ownership of virtual land on a blockchain-based ledger of parcels. They then control what content is published to their portion of land, which is identified by a set of X,Y co-ordinates. Contents can range from static 3D scenes to interactive systems such as games.