Announcing Decentraland’s Genesis City

How to claim, develop, and monetize your LAND.

We’re getting close to our token sale on August 17th. The sale will finance the development of Decentraland’s Iron Age, an ambitious milestone that will include:

  1. A peer-to-peer network, allowing users to interact.
  2. A micropayment system, creating an in-world economy.
  3. A land management interface to develop, buy, rent, and sell LAND.
  4. A scripting language so landowners can program custom experiences.

By participating in our token sale, you’ll be able to buy ownership in the first decentralized VR platform. IDC projects the AR and VR markets to grow from from $5.2 billion in 2016 to $162 billion by 2020. Decentraland aims to be a major player in that growth.

When Can You Claim Your LAND?

Our ERC20 token, MANA, will be directly exchangeable for LAND. In Q3 2017, we will announce the Terraform Event, after which you can exchange your MANA for LAND.

Details of Your LAND

Decentraland is a connected world formed by parcels of LAND. When claiming LAND, there are a few things to note:

  1. Each parcel has an area of 100 square meters (roughly 1,080 square feet).
  2. You can only claim LAND that is adjacent to previously claimed parcels. This improves the value of your LAND as it will be connected with the rest of the world.
  3. You have complete control: only the LAND owner can define the content of their parcel.
  4. LAND ownership is transferable. You can buy, sell, rent, or lease LAND at your will.

Blockchain Partnerships Give You Flexibility

We’ve already announced several partnerships with other blockchain platforms, including Aragon, disctrict0x, Coral, and more. These partnerships will help maximize the long-term value of your LAND.

For example, you will be able to monetize your property through rentals, leases, and sales. To facilitate a secondary market, we’ve partnered with disctrict0x. Their decentralized marketplaces will allow you to manage your LAND.

Genesis City

To encourage development, the Decentraland team is designing a layout for the first metropolis: Genesis City.

A fraction of the raised funds will be used to allocate plots as public spaces, streets, parks, landmarks, and other value-add spaces. We are incorporating ideas and feedback from the community to help determine the final layout of the city. Afterward, artists and creatives will be invited to populate these spaces.

The community is already hard at work. Check out our Github repository to pitch your own ideas and see what’s already been suggested.

A proposal from the community for a city-wide transportation system.

Building Communities

Districts and neighborhoods will naturally form around shared interests. For example, an ‘Entertainment District’ might include VR theaters, live musical performances, arcades, racetracks, and casinos. Organizations like the Voltaire House are looking to create shared workspaces, potentially leading to a ‘Business District’.

We have already received interest from multiple communities and organizations that want to develop LAND within Decentraland. To accelerate adoption prospective communities looking to transition to Decentraland will be aided in this process.

Next Steps

We’re building Decentraland to give users and developers what they really want: full control. Our token sale is an exciting opportunity to buy into the exponential growth of VR. We’ll see you in the metaverse!

Explore Your New World

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Note: This article has been amended. We’ve transitioned the token sale start date to August 17th to ensure complete compliance with recent regulatory announcements. Learn more in our announcement.