Blockchain News – The Virtual Land Auction is Protected by the First Ever Blockchain

Nishanth Shetty

Nishanth Shetty

November 13, 2017 9:46 am

Blockchain News - The Virtual Land Auction is Protected by the First Ever Blockchain | Coindelite News
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The Virtual Reality revolution is beating up with more and more users through online since the headsets and the platform continued to get acceptance. This marketplace has also given an increment for a latest and interest trend which is called as Virtual Real Estate.

 

In 2003 few companies such as Linden Labs (developers of Second Life) were being already innovating Virtual Land Purchases and Content for VR users. The platform became a way for the users to make money from the Virtual Content. Since users are able to create content within the platform and then can have copyright ownership as well, they can virtually own and innovate whatever they create.

 

Blockchain for Virtual Reality ownership

Anyhow, a new blockchain based platform has created its own way into the market, and it is using the blockchain technology to secure the virtual land ownership because the users can actually own the platform themselves. The company is already started using proper cryptocurrency for internal monetization. The first land auction of the company will be going live in December since the company will be selling the ‘Genesis City’ with coordinates.

By using the securing aspects of the blockchain technology, the platform will be able to protect the ownership aspect and as well as to secure the rights for each parcel. Within each parcel, users will be able to create and innovate any kind of content that they choose. Most have been believing it as only a matter of the time before the blockchain was utilized to record the real property, though others had warned against the practice.  It is not such a great surprise that the virtual world is taking the same concept and running with it.

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