This addition is different from other ERC-721 tokens that we’ve added in recent months because Decentraland is a decentralized virtual reality platform which allows users to create, experience and monetize their content, games, and applications. Decentraland’s mission is to create a virtual world that is owned by its inhabitants.
Decentraland is made up of thousands of 10 square meter parcels of virtual space. These parcels are represented by LAND, a non-fungible token, and are identified using cartesian coordinates. LAND owners can build and publish 3D content and applications, such as Ethereum games, on their LAND. Each parcel of LAND is unique since its geographic location and distance from the center of the virtual world play a large role in determining how much foot traffic (and visual traffic) it gets.
The LAND is tracked on the Ethereum network using non-fungible ERC721 tokens, which can be bought and traded on OPSkins.com with WAX, bitcoin, Ethereum, and fiat currency.
“Blockchain-based non-fungible virtual items add an exciting and lucrative new concept to the cryptosphere,” said Malcolm CasSelle, CIO of OPSkins and President of WAX. “Decentraland is helping further establish the Crypto Collectible marketplace, which OPSkins and WAX are excited to be key players in developing. The integration of Decentraland onto the OPSkins platform creates additional utility for WAX Tokens and incentivizes more players to join the ecosystem.”
Decentraland’s non-fungible ERC721 tokens will be the latest to be added to OPSkins and tradable with WAX Tokens — the first was CryptoKitties in December 2017, and there are more to come. OPSkins is becoming the go-to marketplace to trade Crypto Collectibles. OPSkins boasts over two million weekly transactions on its platform, has millions of active customers and adds 200,000 new users each month. WAX allows anyone to create a virtual goods marketplace, onboarding millions of gamers to the growing cryptocurrency space.
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