Decentraland, an Ethereum- based virtual reality platform, is taking gaming to a new level with a $5 million investment in crypto gaming startups.
The platform is already gaining a lot of interest due to its open-source nature that gives users full control.
On Decentraland, users have the freedom to create and experience a wide variety of gaming concepts. They can also be able to easily monetize their content.
To achieve this very ambitious project, the team created the Genesis Content Program. It’s an initiative that aims at allowing various gaming developers to submit unique proposals for blockchain-based games to be built on the Decentraland platform.
In a recent Medium publication, the team stated that the main objective of the Genesis Funding was to “encourage innovation and growth in decentralized online gaming.”
The post goes on to state that the platform will be investing the $5 million in form of project financing, which will be distributed among top applicants.
The Decentraland team has extended an invite to all studios, saying that anyone was welcome to submit proposals. It could be a “small group of indie game developers” or a major professional studio in the gaming industry.
Decentraland accords game developers new and unexplored opportunities that make it easy for them to design and enjoy “virtual experiences”. These virtual experiences come in the shape of blockchain-based games.
Games on the platform utilize Ethereum’s decentralized protocol to allow developers the chance to monetize their games on a global scale.
Decentraland has a number of key characteristics that could see the use of LAND create a very big impact in the gaming ecosystem.
A LAND on the platform is simply a parcel of plot/property that developers can purchase on the platform’s Marketplace.
One of the key characteristics is the scarcity of LAND, which means developers have to design their games in a way that they fit within the boundaries of their parcel.
The project does, however, allow users to develop games that can be accessed remotely anywhere within the Genesis City.
The only requirement is that the developer must own at least one parcel of LAND necessary for hosting and running the game.
Another huge factor could be Decentraland’s distributed ownership. As opposed to the central ownership used in traditional MMO games or even VR platforms, this platform is an “open source hub” that can allow for the development of distributed games.
These games can be “hosted across multiple parcels.” Possible games for developers to ponder include scavenger hunts, crafting, loot crate games, and skill competitions.
The virtual reality platform has also allowed limited graphics. It wants to take what it calls a “web-first” approach similar to that taken by Google. It means it wants to incentivize a low-poly aesthetic. In the end, the platform will be optimized for use on any device.
It has been indicated that the Genesis Content Program has no time limitation, but will rather be an ongoing initiative.