## What Is Bone ShibaSwap (BONE)?

Bone ShibaSwap (BONE) is the ShibaSwap decentralized exchange ([DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex)) governance token with voting functionality. BONE allows the Shiba Inu community, also known as Shib Army, to vote on upcoming proposals, submit proposals and access future [NFTs](https://coinmarketcap.com/alexandria/glossary/non-fungible-token). The more BONE tokens users have, the more significant their votes are.

BONE is the [Ethereum](https://coinmarketcap.com/currencies/ethereum/)-based token in the Shiba ecosystem, including [Shiba Inu (SHIB)](https://coinmarketcap.com/currencies/shiba-inu/) and [Doge Killer (LEASH)](https://coinmarketcap.com/currencies/doge-killer/) tokens. According to the Shiba Inu website, SHIB is the "[Dogecoin](https://coinmarketcap.com/currencies/dogecoin/) (DOGE) killer." Due to its popularity, the project is the second-largest dog-inspired [memecoin](https://coinmarketcap.com/alexandria/glossary/memecoin) in the crypto space.

The ShibaSwap exchange was launched on July 7, 2021 to allow platform users to trade their SHIB tokens for other cryptos. BONE is a middle link in the ecosystem. On ShibaSwap, SHIB holders provide liquidity for BONE reward tokens. Users can stake tokens to earn rewards. Rewards depend on the amount and duration of the staked tokens.


## Who Are the Founders of Bone ShibaSwap?

The Bone ShibaSwap project was established by the team behind Shiba Inu (SHIB), which was founded in 2020 by an anonymous person/group of people known as Ryoshi.

BONE was introduced to the community in parallel with the launch of the decentralized exchange ([DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex)) — ShibaSwap, in July 2021.


## What Makes Bone ShibaSwap (BONE) Unique?

The ShibaSwap team is building a metaverse platform — combining three tokens, SHIB, LEASH and BONE — towards the development of what the project calls "the best Decentralized Ecosystem (DECO) on the planet."

BONE is a governance token for ShibaSwap, which allows owners to participate in governing activities, make proposals for future development, and vote on the decentralized autonomous organization ([DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao)) — Doggy.

On the platform, users can DIG (provide liquidity as SSLP), BURY (stake SHIB, LEASH, BONE), SWAP [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) tokens and receive WOOF returns (rewards), FETCH (migrate Uniswap V2 liquidity to ShibaSwap and earn additional BONE), and utilize BONEFOLIO (analytics for ShibaSwap).

Shiba Inu is the second most valuable memecoin by market capitalization, currently standing at $5.2B, and once hit a high of $40B.


### Related Pages:

Read about [Shiba Inu (SHIB)](https://coinmarketcap.com/currencies/shiba-inu/) and [Doge Killer (LEASH)](https://coinmarketcap.com/currencies/doge-killer/).

Check out [Dogecoin (DOGE)](https://coinmarketcap.com/currencies/dogecoin/) — the most well-known meme coin.

Learn more about the dog-related memecoin mania with our [educational portal](https://coinmarketcap.com/alexandria/article/doge-mania-continues-a-data-perspective-by-intotheblock).

What is a memecoin? Find out with the [CMC glossary](https://coinmarketcap.com/alexandria/glossary/memecoin).


## How Many Bone ShibaSwap (BONE) Coins Are There in Circulation?

Bone ShibaSwap (BONE) was created as the governance token for the Shiba universe based on the [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) standard. It can be traded on its own [DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) ShibaSwap, where Shib Army can exchange tokens for listed digital assets.

Bone ShibaSwap has a maximum supply of 230,000,000 coins with 229,923,351 BONE in circulation as of May 2023.

According to the [document](https://shibaswap.gitbook.io/shibaswap/) posted on GitBook, 10% of all emissions are allocated to the Multisig-controlled treasury/Development Fund, and 0.05% of the exchange trade fees are awarded to holders of the tBONE token. As for monthly BONE emissions, ~13,824,000 $BON tokens are released monthly, primarily for stakers and liquidity providers (LPs).


## How Is the Bone ShibaSwap Network Secured?

Bone ShibaSwap (BONE) is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token based on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain, which is secured by the Proof-of-Stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) consensus algorithm while a set of decentralized nodes validates transactions. Furthermore, all tokens of the Shiba ecosystem (SHIB, LEASH, BONE), including the Bone ShibaSwap [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract), have been audited by CertiK.


## Where Can You Buy Bone ShibaSwap (BONE)?

As of May 2023, Bone ShibaSwap (BONE) is available on [ShibaSwap](https://coinmarketcap.com/exchanges/shibaswap/), [Uniswap (V3)](https://coinmarketcap.com/exchanges/uniswap-v3/), [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [Poloniex](https://coinmarketcap.com/exchanges/poloniex/), [Bitget](https://coinmarketcap.com/exchanges/bitget/) and more.

Want to keep track of BONE prices live? Download the [CMC mobile app](https://coinmarketcap.com/mobile/) to follow the real-time prices of BONE, BTC and other cryptocurrencies.

Bone ShibaSwap

Trust Wallet

MetaMask

$BONE is the governance token for the ShibaSwap decentralized exchange and the gas token for the upcoming Shibarium Layer-2 Blockchain.

Shibarium

BabyDoge is the leading community meme coin on the BNB chain. Baby Doge was created initially as a joke with a mission to help spread awareness of animal adoption. Tweeted by Elon Musk BabyDoge was propelled into pop culture as an adorable icon

The primary utility for Baby Doge is building a fun meme community to spread awareness of animal welfare and pet adoption. The BabyDoge ai image generator empowers the BabyDoge community to create ai babydoge characters ai memes, and ai images on demand without any design experience. Additionally users can pay in babydoge to mint their images into NFTs.

BabyDoge is the only meme with an official world record for helping save dogs donating over 81,000 pounds of dog food.

BabyDoge has its own Swap BabyDogeSwap.com where it has its own AMM, core farms, farming as a service, free token locker, burn portal, card, Ai image generator, NFTs and more!

Baby Doge Coin

Floki (FLOKI) is the people's cryptocurrency and the utility token of the Floki Ecosystem. It is a cryptocurrency birthed by fans and members of the Shiba Inu (SHIB) community and is inspired by (and named after) Elon Musk’s Shiba Inu.

Musk is a prominent fan of Dogecoin, although he publicly denied owning any SHIB. Floki Inu is working on “four flagship utility projects:”

An NFT gaming metaverse called Valhalla

A suite of decentralized finance products launched under the "FlokiFi" umbrella.

An NFT and merchandise marketplace called FlokiPlaces

A content and education platform called University of Floki

The community calls itself the “Floki Vikings” in honor of Floki (Musk’s dog) that was named after a Viking character. Floki vows to take its community efforts seriously and has been listed several times in the Top 10 of LunarCrush’s social engagement leaderboards. Floki has also partnered with leading crypto projects that include Chainlink, Trader Joe, ApeSwap for its FlokiFi Locker digital asset locker protocol.

Floki is also sometimes referred to by some as "Floki Inu".

FLOKI

SHIB is a decentralized, community-led currency held by millions across the globe. Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries.

Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.

This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin.

Since release SHIB now trades on the ecosystem's proprietary DEX, ShibaSwap.

Shiba Inu

Bitgert (BRISE) is a crypto engineering project launched in July 2021 that specializes in blockchain products and centralized exchange. Initially, Bitgert was built on BNB Chain and used BNB, its native token, to pay rewards. However one of the most significant Bitgert developments was presented in 2022: the BRC20 blockchain. It offers near-zero gas fees and high speed cross-chain transactions. More specifically, the gas fee is $0.0000000000001 per transaction, while the supported throughput is up to 100,000 TPS.

The list of Bitgert products also includes Bitgert Blockchain, Bitgert Exchange, Paybrise, Realestate Marketplace,  Decentralized marketplace, BRISE staking, BRISE Swap.

Bitgert offers an alternative to the popular DEX platform PancakeSwap.

BRISE is Bitgert's native token, allowing investors to benefit from staking and earning rewards in BUSD on BSC network only.

Smart contract on BSC Chain feature a buyback mechanism. To be more precise, Bitgert directs 5% of every transaction fee for buyback, 3% for marketing and 4% for staking rewards. According to the team, buyback is meant to support the price of BRISE token making it a deflationary asset.

Smart contract on ETH Network has zero tax fee

BRISE claims to have a real use case with becoming the global payment system and is applied as a peer-to-peer (P2P) service in the BRISE dApp Wallet. Thus, buyers and sellers interact directly, without the participation of a third party, through the P2P service, and transactions are carried out quickly, securely and with zero fees.

Bitgert

PEPE is a deflationary memecoin launched on Ethereum. The cryptocurrency was created as a tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s.

The project aims to capitalize on the popularity of meme coins, like Shiba Inu and Dogecoin, and strives to establish itself as one of the top meme-based cryptocurrencies. PEPE appeals to the cryptocurrency community by instituting a no-tax policy and being up-front about its lack of utility, keeping things pure and simple as a memecoin.

In late April to May 2023, the explosive surge of PEPE caused its market cap to reach a high of $1.6 billion at one point, minting millionaires out of early holders and attracting a strong community of like-minded followers. It has induced what some may dub a "memecoin season," causing other memecoins — some launched within hours — to go on spectacular pumps and just as astounding dumps. It remains to be seen if PEPE and other memecoins will go on to new highs, although that is certainly the hope of many believers waiting for the coming BTC halving cycle praying for a Bull Run.

The PEPE roadmap features three phases, where phase one includes listing on CoinMarketCap, and getting $PEPE trending on Twitter, while phase two includes listing on centralized exchanges (CEXs) and phase three includes “tier 1” exchange listings and what the team terms a “meme takeover.”

Pepe

Dogelon Mars is a dog-themed meme coin on Ethereum and Polygon. It follows the example of other successful dog coins like Dogecoin, Shiba Inu and Floki Inu.

Dogelon Mars plays on several popular themes in the meme coin space. Its name is a mixture of Dogecoin and Elon Musk, the billionaire entrepreneur who is an outspoken supporter of Doge. It alludes to Mars, a spin on the famous moon meme, implying that Dogelon will experience a massive upward movement. Beyond its tongue-in-cheek name, Dogelon Mars has managed to build a significant community, with more than 300,000 Twitter followers and more than 84,000 followers on Telegram.

Dogelon Mars

According to the one-pager, BONK is the first dog-themed coin on Solana "for the people, by the people" with 50% of the total supply of the cryptocurrency airdropped to the Solana community. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) memecoins, it was launched on December 25, 2022, and led to an increase in the price of the SOL token (a rise of 34% in 48 hours). Trading began on December 30, 2022, arousing genuine interest from the crypto community.

The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges (DEXs). The idea of the developers was to create a full-fledged community coin that will be used across all the dApps built on Solana, and each user will have the opportunity to become part of the ecosystem, "where everyone gets a fair shot".

BONK was airdropped randomly to Solana NFT collectors, developers, and artists, other airdrop details remain unknown. Currently, the project has a small digital footprint on the Internet, except for an active twitter account.

Bonk

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

Development on Terra began in January 2018, and its mainnet officially launched in April 2019. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund's Special Drawing Rights basket of currencies — and it intends to roll out additional options.

On May 28, 2022, the genesis block of the new chain was launched to conduct future transactions under the name Terra (LUNA), and the original Terra Chain was rebranded as Terra Classic. The original native token — LUNA has also been renamed as LUNA Classic (LUNC). Moreover, all network stablecoins (UST, KRT, EUT) have been renamed to Terra Classic stablecoins (USTC, KRTC, EUTC). There will be no Terra stablecoins on the new chain.

There is a theory that the additional term “classic” is a reference to the Ethereum / Ethereum Classic split in 2017. According to CEO, Do Kwon, the collapse of UST in the spring of 2022 is the equivalent moment of the Ethereum’s DAO hack that took place in 2017.

Terra Classic

JasmyCoin (JASMY) is a cryptocurrency project of a Tokyo-based Internet of Things (IoT) provider Jasmy Corporation. As a system, the Internet of Things includes mechanical and digital elements endowed with an identifier and the ability to transmit data. The IoT company Jasmy specializes in buying/selling data, and the Jasmy platform connects two categories: service providers and data users.

The Jasmy platform was built to restore and protect the sovereignty of individual data by combining IoT technology with blockchain technology and giving users full control over their personal information. The main goal of the project is to establish a secure environment on the platform where users can exchange data in a trustless manner between IoT devices (computers, cars, phones) and decentralized protocols.

The mission of Jasmy developers is to create an environment by shaping an infrastructure where users can easily, safely and smoothly use data. As a result, Jasmy aims to provide its users with a powerful infrastructure, an intuitive interface and a secure environment for storing and sharing data. In the Jasmy space, information can be transformed into personal assets.

Jasmy decentralizes the workflow with edge computing and storing data on IPFS (InterPlanetary File System). The philosophy of the project is based on the democratization of data using a decentralized model, where data is securely protected and owned by an owner, and service providers get the opportunity to promote their services/business using data (owned by users).

JasmyCoin

Gala is a web3 ecosystem powered by a layer-1 blockchain (GalaChain) built to power the Gala entertainment ecosystem that originally included Gala Games, Gala Music and Gala Film. More recently however, GalaChain has opened its doors to external developers and projects from any applicable industry, providing open source developer resources to simplify the process.

On a mission to empower users and creators across multiple industries throughout the world, Gala’s goal is to become the first billion user blockchain in the world. Innovators can extend the benefits of web3 to their users and communities more easily than ever before by leveraging open source tools like the GalaChain SDK and Creator Portal.

By elevating their ideas to web3 through GalaChain, developers can create custom tokens, smart contracts, reward opportunities and node networks for their communities and projects. Assets built on GalaChain can also be bridged to other blockchains, such as Ethereum, Binance Smart Chain and more. Developers who wish to learn more about getting involved with GalaChain are welcome to reach out via GalaChain.com.

The core of GalaChain is powered by its DePIN (Decentralized Physical Infrastructure Network) of Founder’s Nodes, whose operators earn daily $GALA rewards for actively providing resources to the ecosystem and enjoy governance voting rights on certain core Gala decisions. In addition to the Founder’s Node network’s foundational workload, individual projects can also create Node networks on GalaChain with more specific workloads.

Gala.com
News.Gala.com
Games.Gala.com
Music.Gala.com
Film.Gala.com

Gala

ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.

ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.

ApeCoin

Dogecoin (DOGE) is based on the popular "doge" Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.

Dogecoin

eCash (XEC) is the rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It calls itself a “cryptocurrency that’s designed to be used as electronic cash.” eCash strictly aims to be a means of transaction used to pay for goods and services. The coin was rebranded on July 1, 2021, and has since tried to distinguish itself from its predecessor. The base units of eCash are called “bits” and replace the unwieldy decimal places of Bitcoin Cash ABC. Instead of sending 0.00001000 BTC, you would send 10 bits with eCash. ECash integrates a proof-of-stake (PoS) consensus layer called “Avalanche,” which is not to be mistaken for the blockchain Avalanche (AVAX). Upon rebranding, eCash announced that it would convert all BCHA coins to XEC at a ratio of one to one million.

The cryptocurrency’s developers have set their sights on three main improvements:

Scaling transaction throughput from 100 transactions per second to more than five million transactions per second

Improving the payment experience by reducing transaction finality time

Extending the protocol and establishing fork-free upgrades

eCash

SingularityNET is a blockchain-powered platform that allows anybody to easily "create, share, and monetize" AI services, thanks to its globally-accessible AI marketplace.

Through the SingularityNET marketplace, users can browse, test and purchase a huge variety of AI services using the platform’s native utility token — AGIX. Moreover, the marketplace represents an outlet AI developers can use to publish and sell their AI tools, and easily track their performance.

With the benefits of LLMs and generative AI are increasingly exciting, their limitations are also becoming increasingly apparent. The convergence of structured knowledge with neural networks is emerging as the key to overcoming their shortcomings.

Uniquely positioned at the heart of this convergence, SingularityNET will prioritize the integration of Knowledge Graphs (KGs) and comprehensive Neural Symbolic tools for LLMs, with the goal of empowering developers to create the next generation of AI systems on the SingularityNET Platform.

SingularityNET is strategically positioned to become the Knowledge Layer of the Internet, leading the evolution of the emerging AI landscape while also laying the foundations for the Artificial General Intelligence (AGI) of tomorrow.

The team behind SingularityNET pioneered the development of an AI known as Sophia, which is described as the "world's most expressive robot". SingularityNET’s goal is to enable Sophia to be able to fully understand human language, and continue developing “OpenCog” — an AI framework that is hoped to eventually achieve a state known as “advanced general intelligence,” i.e. human-level artificial intelligence (or beyond).

The platform was first announced in 2017 and completed an initial coin offering (ICO) in December the same year, raising $36 million in just one minute.

SingularityNET

Launched in 2021, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed  (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

BitTorrent is a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralized in recent years.

Originally released in July 2001, BitTorrent was purchased by blockchain platform TRON in July 2018.

Since its acquisition, BitTorrent has added various new tools, with a dedicated native cryptocurrency token, BTT, released in February 2019. BTT was launched on TRON’s own blockchain, using its TRC-10 standard.

According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world.

BitTorrent (New)

Terra (LUNA) is a public blockchain protocol that emerged from Terra Classic. Terra Classic is home to the algorithmic stablecoin TerraClassicUSD (UST). It's now-renamed LUNC token collateralized UST, which crashed in a bank run in May 2022. That devalued LUNA to virtually zero and caused a launch of a new chain — resulting in Terra Classic and Terra. Read a full breakdown of the Terra crash here.

The development of Terra Classic launched in January 2018 and the blockchain launched in April 2019. It attempted to combine the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offer fast and affordable settlements through its UST stablecoin. Terra Classic offered stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik, and the International Monetary Fund's Special Drawing Rights basket of currencies.

The new Terra blockchain continues the legacy of Terra Classic without the UST stablecoin. It will keep building with the help of the LUNA community dubbed “LUNAtics” and evolve the world-class UX and UI that brought Terra Classic up to second place in total value locked (TVL) at its peak. Many DApps have agreed to migrate to Terra to continue their functionality.

Terra

Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.

According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.

The Sandbox

Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications.

In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.

Decentraland was launched following a $24 million initial coin offering (ICO) that was conducted in 2017. The virtual world launched its closed beta in 2019 and opened to the public in February 2020. Since then, users have created a wide range of experiences on their parcels of LAND, including interactive games, sprawling 3D scenes and a variety of other interactive experiences.

Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names, and more on the Decentraland marketplace.

Decentraland (MANA) is a decentralized virtual world platform with software based on the Ethereum blockchain, where users create, test and monetize content. In short: users buy virtual plots of land as NFTs with MANA tokens on the Decentraland platform. Progress in the game depends only on players themselves, their efforts and their imagination.

The digital platform is completely owned by its users. Within the Decentraland metaverse, participants can explore the virtual world, purchase plots of land that can be monetized, create works of art, own non-fungible tokens (NFTs), and take part in a decentralized autonomous organization of the platform Decentraland DAO. Due to the DAO, the community influences the development vector of the project.

In addition, users have access to interactive applications, in-world payments and peer-to-peer communication. The 3D world resonates with many participants as Decentraland has many applications, both entertainment for gamers and business for investors.

Two types of tokens called MANA and LAND govern operations in Decentraland. They also allow users to interact with the platform.

MANA is the official currency of Decentraland. It’s an ERC-20 standard token that powers the Decentraland platform. With MANA, users can purchase plots of LAND, as well as pay for in-game items and services.

MANA gives its holders the right to vote in Decentraland DAO. MANA can be purchased on a cryptocurrency exchange or by selling collectibles on Decentraland Marketplace. The owner of tokens converts them to wrapped MANA, or wMANA, and then commits them to the DAO. One wMANA equals one vote. MANA can be exchanged for fiat currency and other digital assets.

As for LAND, it’s a non-fungible token (NFT) based on Ethereum (ETH). It is used to track ownership of land parcels aka digital real estate. Like MANA, LAND is part of the protocol and confers voting rights, but LAND does not need to be fixed in the DAO. One LAND is equal to two thousand votes.

Players choose what to do with their land. Owners store tokens in crypto wallets and buy necessities with MANA tokens on the Decentraland Marketplace. Moreover, on the marketplace, participants can manage or exchange LAND tokens (priced in MANA). Holders use the marketplace to transact or transfer in-game items. All transactions are conducted, regulated and registered via the Ethereum blockchain.

Decentraland combines an online gaming space and blockchain technology. All control over the rules is given to the players, and token holders vote on in-game and organizational policies. The original goal was to form a decentralized virtual reality, but in practice, Decentraland has turned into a massive NFT market.

A special role in Decentraland is assigned to NFTs, such as collectibles, virtual equipment and real estate (LAND). However, for new players who want to join the universe and seize NFTs, the entry barrier will be high.

The Decentraland protocol is built on three levels using Ethereum smart contracts. On the consensus layer, the ownership of LAND is tracked and managed. The land content layer displays the content of the Decentraland virtual world. Finally, on the real-time layer, participants interact with each other.

The platform was co-founded by two blockchain experts, Ari Meilich and Esteban Ordano, in 2015. Officially it was launched a year later and became available only in February 2020, gradually turning from a 2D experiment into a full-fledged 3D world.

To sum up, Decentraland is a decentralized game and a 3D virtual reality platform where players own lands and create limitlessly. Decentralized Autonomous Organization (DAO) software is at the core, and governance is in the hands of the community. Through the native token MANA, players participate in any proposals for managing and improving the ecosystem, the auction system, and the in-game policy.