On July 20, Decentraland, an Ethereum-powered VR platform, announced its partnership with Samsung, allowing users to store NFTs (non-fungible tokens) on the Samsung Blockchain Keystore.
Decentraland is a public virtual world platform controlled by its community. With the help of SDKs, users can build their own interactive 3D scenes and trade virtual LAND, Avatar accessories, wearables, and names. The game launched earlier this year on February 2 and is seeing wider public adoption with each passing day.
The blockchain-based VR game introduces Decentraland NFTs, non-fungible tokens used by players to interact with each other and trade virtual commodities. According to the marketplace’s website, there are two types of NFTs, LAND tokens and MANA tokens. LAND tokens represent parcels of virtual real estate, while MANA tokens are used for in-game purchases or for buying LAND, after which they are destroyed.
In the statement, the company said that Decentraland will be the largest game and NFT project on Samsung’s blockchain. The integration also allows players to trade virtual LAND and Decentraland NFTs as well as securely store their tokens on the Keystore.
Decentraland’s virtual world Metaverse is open to absolutely everyone and allows players to earn digital assets as a reward for their creativity in designing 3D scenes. Although, after its launch, there was some negative feedback from the community due to certain bugs and delays in processing, the platform managed to grab the interest of the public and became a widely-discussed topic in the media.
Decentraland also introduced a completely new blockchain feature, making it possible to search and find in-game rewards in the form of LAND or MANA tokens, and then store or trade them to other players. On its launch, digital assets worth over $100,000 were “hidden” around the map for users to find.
Lastly, according to the announcement, the Decentraland Marketplace app is now available on the Samsung Blockchain Wallet. Samsung abstained from commenting on the new partnership, but judging from their various new collaborations in the last month, the tech giant is looking to expand the Samsung Blockchain Keystore, introducing more new crypto dapps and platforms to its wallet.