In this post I will explain about one project that uses NFT, namely Decentraland. This is a homework topic given by professor @levycore on the second week of the Steemit Crypto Academy Season 2 community.
Decentraland (MANA) is a virtual land buying and selling game that runs on the Ethereum blockchain. This game allows users to create, experience and monetize content and applications. Users buy a plot of land which they can later manage and cash in.
Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to get a non-exchangeable ERC-721 LAND token. The MANA token can also be used to pay for various avatars, wearables, names and more on the Decentraland marketplace.
Decentraland was launched following an initial $ 24 million coin offering (ICO) made in 2017. Since then, users have created a variety of experiences in the LAND field, including interactive games, expansive 3D views, and a variety of other interactive experiences.
Thank you for reading my post and see you on next post….
Hi @torressteem, thank for submitting your homework.
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