What is Decentraland... and what does it have to do with NFTs?

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English.

Ever wondered what people actually refer to, when they talk about interacting with each other in virtual reality?

It takes many forms, and one of them is Decentraland. It's a virtual world that you can log in from your browser. Your can create your own avatar, and walk around, check out the entire world, and interact with other people's avatars.

It's a surprisingly rich experience actually. There are virtual concerts, art shows, and homes you can live in and decorate.

What makes Decentraland special is that it operates on the blockchain. Ownership of items and your avatar is recorded onit. The users own all the things and the world they live in.

And that's where NFTs come in. People want to make their avatars special, and for many that means showing off what items they can afford. An interesting way that Decentraland catered to that was a virtual fashion show, where brands like Dolce Gabbana or Tommy Hilfiger were selling their clothes as NFTs.

Playing it is free though - but you do have to connect through a crypto wallet. Check out course 6 on cryptohunt.it for a detailed tutorial.

We hope you enjoy the experience - VR might be here to stay!

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.