How Blockchain Is Breathing New Life Into Virtual Real Estate
Virtual reality platform Decentraland, for example, uses blockchain to identify and designate ownership of land in its virtual world.
Because of the various possible applications of VR, virtual real estate can now function similarly to real-world properties that they can be sold, leased, and used for virtual activities. Blockchain could help formalize the market for these virtual properties.
The improvements in the VR hardware are allowing for richer experiences. “Environments in VR are completely malleable, down to the setting, physics, and social parameters. This allows blockchain developers to experiment in ways that would be impossible in the physical world,” writes Franco Zeoli from Zeppelin. New decentralized VR platforms also liberate users from the usual constraints imposed by virtual world developers. Blockchain ensures that the trade of virtual properties becomes fair and secure.
See the full story here: https://www.forbes.com/sites/omribarzilay/2017/11/30/how-blockchain-is-breathing-new-life-into-virtual-real-estate/#2dec7302511e