ælf, the decentralized cloud computing network today announced that through its recent collaboration with Decentraland, a virtual reality platform built on top of the Ethereum network, users can now use ELF tokens to participate in Decentraland’s upcoming auction for virtual real estate, called LAND. The auction began Monday, December 10th, and will last until December 23rd.
Decentraland held their first LAND auction at the beginning of 2018. During that auction, users spent over 161 million MANA (Decentraland’s ERC20 token) on LAND, amounting to about $30 million USD at the time. With over 9,300 LAND parcels remaining unowned, the Decentraland community has opted to run a second auction to help distribute this virtual real estate.
“We are eager to announce that our collaboration with Decentraland will make it easier for ELF token owners to buy their own virtual real estate, in turn, opening up a number of new possibilities for our community. Being one of a select number of tokens chosen to take part in this auction, we are very much looking forward to opening up new ways in which ELF token holders can spend their ELF, this being the first of many.”
Decentraland makes it possible for individuals, brands, and studios to build and share interactive 3D content hosted on a decentralized platform. The platform uses blockchain technology and smart contracts to allow users to gain full ownership of their own digital space and assets, represented through a finite supply of virtual land parcels, called LAND.
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