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User-Owned Virtual Real Estate

On Decentraland, One Can Create, Explore, & Trade Items & Property

— April 11, 2021 — Business
The concept of virtual real estate is getting traction with the public as the popularity of NFTs has increased and created a sense of curiosity in both consumers and entrepreneurs. As many are exploring the possibilities that the digital environment has to offer, platforms like Decentraland are in an excellent position to expand, educate, and provide a glimpse into the manifold opportunities.

While you can certainly trade objects in Decentraland—and various high-profile furniture and fashion designers are surely taking advantage of this in recent weeks—you can also purchase virtual land. On Decentraland's website, virtual real estate listings are separated into parcels and estates. Users can bid and buy properties.

Decentraland is marketed as the "first fully decentralized world." It is controlled via the DAO which enables users to decide and vote on how the world works.

Image Credit: Decentraland
Trend Themes
1. Virtual Real Estate Trading - As the concept of virtual real estate gains popularity, platforms that enable users to trade digital properties like Decentraland present disruptive innovation opportunities in the virtual world.
2. Nft-based Virtual Object Trading - The rise of NFTs has created a sense of curiosity in both consumers and entrepreneurs about trading virtual objects; platforms like Decentraland can capitalize on this trend to enable users to buy, trade, and create unique virtual items.
3. Decentralized Virtual Worlds - Platforms like Decentraland that are marketed as the 'first fully decentralized world' present disruptive innovation opportunities in creating and exploring virtual reality environments controlled by DAOs.
Industry Implications
1. Virtual Reality - The concept of user-owned virtual real estate and the rise of decentralized virtual worlds provide opportunities for disruptive innovation in the virtual reality industry.
2. Blockchain - NFT-based virtual object trading and the DAO-controlled Decentraland platform provide opportunities for disruptive innovation in the blockchain industry.
3. E-commerce - Virtual real estate and object trading on platforms like Decentraland provide opportunities for disruptive innovation in the e-commerce and digital marketplaces industry.
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