philip lelyveld The world of entertainment technology


First Ever Blockchain Protected Virtual Land Auction

725_aHR0cHM6Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9lMDgwZjE1MDNhNzhhMzdkMTNiNDIyMzg0M2ZlZjY0ZC5qcGc=However, a new Blockchain based platform has made its way onto the market, and is using Blockchain technology to secure virtual land ownership, so that users can actually own the platform itself. The company is also using a proprietary cryptocurrency as a means of internal monetization. The first ever land auction for the company will go live in December, as the company sells the ‘Genesis City’ with coordinates (0,0).

By utilizing the protective aspects of Blockchain technology, the platform is able to both protect the ownership aspect, as well as secure the rights to each parcel. Within each parcel, users are able to create and monetize any type of content they choose. Many have long believed it only a matter of time before the Blockchain was used to record real property, though others have warned against the practice. It should be no surprise the virtual world is taking the same concept and running with it.

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