Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Decentraland is a decentralized, virtual reality (VR) platform where users can both create and monetize their content and applications. The digital land on their platform is simply called “LAND.” Specifically, it is a non-fungible digital asset maintained by Ethereum smart contracts. Decentraland split up their digital land into parcels so that users can purchase it using the MANA token.
We’ll describe all this in-depth, but for now, just understand that there is a finite amount of LAND available. So, the number one asset on Decentraland is scarce which is similar to Bitcoin.
The cool thing is users who buy LAND own it outright and permanently. They can control how their LAND looks by choosing the scenes they want, what content they’ll display, and which interactive apps they’ll use. In short, the owners are in charge. Let’s therefore dive deeper and find out all about Decentraland!
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The video game industry is a multi-billion dollar sector, with an estimated 65% of American adults playing games. Moreover, by 2025, the video game market is estimated to become a $300 billion industry by 2025. Out of all of these prospective gamers, the blockchain firm Enjin hopes to lasso some of these gamers from traditional gaming and bring them over to the blockchain.
So, what is Enjin? Well, in short it is a blockchain-based video game community and development platform based out of Singapore. With Enjin, users can build such things as websites, gamer dApps, and chat forums. The Enjin platform is designed specifically for the video game industry and offers its legion of gamers the chance to create communities around their favorite games.
More importantly, Enjin is taking traditional blockchain concepts to the video game space. This means that its users can tokenize virtual assets like weapons or suits of armor. Enjin accomplishes this with its ecosystem of tools that...
With some of the Yield Farming profits dropping and the most intense DeFi hysteria waning, another digital asset has been gaining traction that may be able to kickstart the blockchain space: namely, non-fungible tokens (NFTs). Non-fungible tokens could be the future of music and art, gaming, and even real estate. But, since the terms “fungible” and “non-fungible” can be somewhat confusing, let’s dig into what it all means.
Fungibility is a concept that applies to real-world assets and digital ones as well. Specifically, fungibility is an asset’s ability to hold a standardized value. So, a currency is a fungible asset because its value is equal and standardized. That means, a $10 bill, and a Bitcoin are both fungible assets. That’s because a $10 bill is worth the same as any other $10 bill. And it’s the same with one Bitcoin. There is no specific history in the life of either asset that will change its value with regards...
Blockchain is arguably starting to make it into the mainstream. The banking sector has embraced blockchain technology with open arms, and the logistics sector and even the administrative industry are beginning to follow suit. As such, people are now looking elsewhere for the next big thing. Some of the most interesting up and coming industries for blockchain use cases are the music and art sectors.
NFTs, or non-fungible tokens, have been rising to prominence in recent weeks, with many influencers and experts in the industry believing that the combination of blockchain with the art industry, and thanks to recent innovations, blockchain in the music industry could be a game-changer and a welcomer for mass adoption of crypto.
In this article, we will cover why blockchain technology has the capabilities of radically changing the global cultural and arts sector for the better while saving billions in fraudulent and counterfeit claims. The stereotypical anecdote of the starving artist may...
Gaming could be one of the biggest industries cryptocurrencies and blockchain technology looks to disrupt. The blockchain gaming industry has been quietly simmering for the past couple of years, following a huge influx of users that congested the Ethereum network in 2017. However, with recent developments, projects, and partnerships, blockchain in gaming is beginning to show signs of making a comeback, appealing to a bigger audience than ever before.
Digital assets, collectibles, and non-fungible tokens have come a long way in recent years, with more complex use cases and higher utility on exciting new platforms.
In this article, we’ll take a look at some of the tools used to create these digital worlds and explore some of the ways that blockchain is revolutionizing the online experience by bringing decentralization to the gaming industry with the power of blockchain technology and cryptocurrency.
If you are looking for even more details relating to blockchain gaming, Ivan on...
There appears to be an ever-increasing amount of information to learn about the various blockchain ecosystems. One of the terms that has recently seen an upswing in interest surrounding NFTs. NFTs (Non-Fungible Tokens) are becoming more established as the crypto sector heats up in what many hope will constitute a 2020 - 2021 bull run. So, what are NFTs?
In properly answering that question, however, we need to take a closer look at what non-fungible tokens, or NFTs, offer. Specifically, NFTs are bringing valuable assets to the blockchain through a wide array of industries including gaming, art, fashion, and real estate.
In this article, we’ll explore some of the key use cases for non-fungible tokens. We’ll also look at some of the latest token standards, how they are implemented, and what gives them value. First and foremost, however, we need to take a look at what blockchain technology actually is.
You may be familiar with blockchain...