Part 1: Intro to Decentraland
Based in Ho Chi Minh City, Vietnam, RedFOX Labs is a venture builder using emerging technologies to replicate proven business models. While our primary focus is on the high-growth digital economies of Southeast Asia, the future of electronic commerce is decidedly borderless.
And soon, we’re going farther beyond the confines of physical borders and setting up a virtual headquarters — VHQ — in Decentraland, an Ethereum-based platform where users can purchase parcels of virtual land, appropriately dubbed ‘LAND.’
LANDowners within this 3D realm have full creative freedom inside their parcels. Better still, income generated by LANDowners doesn’t pass through expensive go-betweens.
For example, an artist may construct a virtual gallery in which to hang digital creations. Visitors can then come inside, look at the artwork, and make purchases if they’re so inclined. Decentraland’s products and services may be 100% digital, but virtual purchases can also represent real-world counterparts.
We have quite a few ideas in mind for our plot of virtual land. We’ll have further details in a future article. But while we lay plans, let’s get you familiar with Decentraland itself.
Powered by The Players
Decentraland is, in its own words, the first virtual world wholly owned by its users. Residents can monetize anything and have the power to vote on upgrades, including marketplace fees, land auction dates, protocol development, and more.
So what’s all the fuss about? We unearthed a video covering the excitement surrounding the digital landscape’s launch more than two years ago.
Ignore the price speculation in the following promo. Even more important than the investment chatter is the reason why Decentraland exists in the first place:
We highlight this video not only for instructional purposes. One quote is particularly noteworthy because of its perfect alignment with our methodology when we build blockchain-powered products:
“What really matters is that it will be a good game that people want to play. If people who do not give a hoot about blockchains want to play the game, that will be the measure of wether this has been a success.”
Here at RedFOX Labs, we strive to foster a seamless user experience so that everyone can use our products. In other words, although our distributed applications (dApps) use blockchain and other emerging technologies, our user base has no requirement to know anything about how blockchains function.
Exploring Virtual Territory
The above video came out before Decentraland’s launch. But the one below will catch you up on what’s available now. Like all other virtual spaces, it all begins with an avatar:
Ready to grab an avatar and put your digital doppelganger into Decentraland? You’ll first need the easy-to-use MetaMask wallet. Once your MetaMask wallet is set up and funded, head to https://play.decentraland.org to create an account and start exploring.
We’re now in the process of shaping our LAND parcel. And in this series’ next installment, we’ll divulge the precise coordinates and give you a sneak peek of our virtual space in Decentraland’s Crypto Valley.
Look for RedFOX Labs’ VHQ to come online in Decentraland soon. Because it’s still under construction, you have a great opportunity to familiarize yourself with the ins and outs of Decentraland. And once our VHQ is complete, everyone is invited. We hope to see you there!