#How to monetize open source software with tokenization and blockchain licensing

[bestsmmworld56]

Blockchain Licensing: Unlocking Value in Open Source Software"

The open source software community has long thrived on collaboration and sharing. However, sustaining this ecosystem requires innovative approaches to monetization. One promising solution is leveraging tokenization and blockchain licensing to create new revenue streams and foster sustainable development.

The Challenge of Monetizing Open Source Open source software is built on principles of freedom and collaboration, making traditional revenue models challenging. Tokenization and blockchain licensing offer a new paradigm for monetization, enabling developers to create direct value exchange mechanisms and build more sustainable ecosystems.

How to Monetize Open Source Software with Tokenization and Blockchain Licensing

Incentivize contributions: Reward developers for their work.

Prioritize features: Allow users to influence project direction.

Grant access: Provide premium services or features.

Blockchain Licensing: A Game-Changer Blockchain licensing utilizes smart contracts to automate and secure licensing processes. This enables:

Transparent transactions: Tamper-proof and transparent interactions.

Decentralized governance: Token holders participate in decision-making.

New revenue streams: Developers monetize contributions and create new revenue streams.

Benefits of Tokenization and Blockchain Licensing

Direct value exchange: Users contribute value directly to developers.

Increased transparency: Blockchain technology ensures transparency.

Decentralized governance: Token holders influence project direction.

New revenue streams: Developers create new revenue streams.

Examples of Tokenization Platforms

Gitcoin: Tokenized incentives for open source projects.

Oscoin: Cryptocurrency for open source projects.

Open Collective: Crowdfunding platform for open source projects.

Implementing Tokenization and Blockchain Licensing To implement these technologies, developers can:

Define the token model: Determine token type and use cases.

Choose a blockchain platform: Select a suitable platform.

Develop a smart contract: Automate token transactions and governance.

Integrate with existing infrastructure: Integrate token model with existing tools.

Challenges and Considerations

Complexity: Implementing blockchain technology requires expertise.

Regulatory uncertainty: Evolving regulatory environment.

Community adoption: Requires adoption and buy-in from the open source community.

Conclusion Tokenization and blockchain licensing offer a promising solution for monetizing open source software. By leveraging these technologies, developers can create more sustainable ecosystems and new revenue streams. As the open source community continues to evolve, it's essential to explore innovative approaches to monetization and sustainability.

By embracing tokenization and blockchain licensing, open source developers can build more equitable and sustainable ecosystems, where contributors are rewarded for their work and users can participate in decision-making processes.

[fmm85]

HONG KONG, Feb 25, 2021 – (ACN Newswire) – Blockpass is proud to reveal another new partnership this week which will see the integration of Blockpass’ KYC solution into a brand new platform. This new expansion of KYC coverage comes to the UREEQA platform, which protects, manages and monetizes creative work. Both companies will work together to ensure that creators of unique works can identify themselves and claim ownership of their compositions, opening up greater opportunities for people to conduct business and pursue their goals.

On UREEQA, users can pay a small fee to stake claim to their creative works, such as music, videos, eBooks, source code, art etc. In the future, UREEQA will expand to other forms of work including patents, trademarks and industrial design. Validators work to ensure that creative content on UREEQA is original, earning URQA tokens and a UREEQA Validator Rating (UV Rating) based on their performance. Once a creator’s work has been successfully validated, a non-fungible token is generated; this token is the creator’s immutable claim to the creation. The NFT then enters the UREEQA Premium Protected Collection – a dynamic online platform where the creation will be showcased, enabling users to buy, sell, distribute, license or complete a legally compliant STO. The UREEQA Premium Protected Collection also includes a social element where users can rate, comment on and like creative work, or contact each other to discuss collaboration opportunities.

Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users.

“UREEQA is an excellent example of how blockchain technology can enhance a specific industry and improve people’s choices and opportunities,” said Adam Vaziri, Blockpass CEO. “Creative works represent peoples’ unique talents and often their most prized work; helping UREEQA to prove that and to validate ownership, alongside creating new avenues for people to buy and sell and collaborate, are exactly the kind of benefits that blockchain and Blockpass exist to facilitate.”

“As we work on providing decentralized services to help protect creative works, identity verification is an important first step to ensuring that we are engaging in consulting arrangements with known entities. We evaluated multiple KYC service providers and Blockpass was the clear winner. The platform is easy to use and the support has been stellar,” said Harsch Khandelwal, CEO of UREEQA.

Robert Eccles, UREEQA COO, noted: “UREEQA is deeply committed to providing our customers with high quality services and products. Invariably, in doing so we have to rely on partners in some areas. Therefore, we are extremely careful and discerning in who we partner with. We evaluated multiple KYC service providers and we concluded that partnering with Blockpass was the clear choice. Their platform is easy to use and the support has been stellar.”

Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with, and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations have led to a surge in interest for Blockpass’ On-chain KYC(TM) solution which promises to change the way blockchains enable compliance.

With a current 90%+ discount on its services, a fact made possible due to the unique reusable nature of its verification method, and put in place to help as many people as possible access KYC in the current pandemic, there has never been a better time to explore the potential of Blockpass. The Blockpass App is available from the App Store and Google Play.

About Blockpass

Blockpass, the pioneer of On-chain KYC(TM), is a fast, fully comprehensive KYC & AML screening software-as-a-service for blockchains, Crypto, Defi and other regulated industries. With Blockpass, you get an unmatched set of benefits for any compliance service that includes pay-as-you-go, no setup cost, no integration necessary, free testing, immediate launch and at the lowest cost. Blockpass’ KYC Connect(TM) platform enables businesses to select requirements for customer onboarding that can include ID authentication, face-matching, address checking, AML ongoing monitoring and/or screening of sanctions lists, politically exposed persons (PEP), and adverse media. Through Blockpass, end-users easily create a verified portable identity that they can control and re-use to onboard with any service instantly. By integrating with Chainlink Network – a decentralized oracle solution – in early January, Blockpass introduced the first On-chain KYC(TM) solution that will service many blockchains in the years to come.

For more information and updates, please visit and sign up to the following: Promotional video: https://youtu.be/SvO2cw3e-SI Website: https://ift.tt/2xLkqTk Email: [email protected]

About UREEQA

The UREEQA platform harnesses the power of blockchain technology and the blockchain community to empower creators to protect, manage, and monetize their work. Established in Canada in 2020, UREEQA will modernize the inefficient and bureaucratic systems currently in place for copyright, patent, industrial design and trademark protection. UREEQA provides value and opportunities for its Creators, Validators and Tokenholders via URQA, the token at the heart of the UREEQA ecosystem. For more information on UREEQA and upcoming announcements please visit our website https://www.ureeqa.com/, join our Telegram channel https://t.me/UREEQA, and follow us on twitter https://twitter.com/UREEQA_Inc

Topic: Press release summary Sectors: FX & Digital Currencies, FinTech & Blockchain

https://ift.tt/1fx7Yvd From the Asia Corporate News Network

Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

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[icodogio]

Elastos (ELA): The decentralized World Wide Web

This article focuses on Elastos, a platform aiming at decentralizing the internet on a smart web and introduce the world to a new way of using the ‘internet’. We take a closer look at the history of Elastos, the development team, and community of the Elastos platform. The sections that follow will shortly explain how the decentralized internet will work and also the Elastos token, ticker symbol ELA and its ICO history and the current price of the ELA token and how it is performing across various exchanges.

The final section of this piece focuses on their roadmap and the future of Elastos as a decentralized smart web.

“We don’t consider Elastos as Bitcoin’s competitor because we are co-mining coins with Bitcoin. We don’t consider Elastos as Ethereum’s competitor either, because in the future, some Elastos’ websites will also be based on the consensus and the smart contracts, which will also support Neo smart contracts. We won’t have any restrictions on what they want to choose. We will support all of these.” – Elastos Founder, Rong Chen.

  The Elastos blockchain-powered World Wide Web

Elastos is creating a blockchain powered world wide web that will enable users to share and monetize their digital content whether its articles, movies, music or photos. Elastos will allow decentralized applications (DApps) to be built on a decentralized, peer to peer platform and access the DApps through any device such as your mobile phone. The Elastos blockchain based internet is built on four key pillars namely; the Elastos blockchain, Runtime, Carrier, and the Software Development Kit (SDK).

Elastos Blockchain: According to the whitepaper, the platform will leverage the blockchain to build its decentralized internet. The devices connected to the platform such as mobile phones, PC, Mac etc., the digital assets and users will have a unique and trustworthy ID recorded on the blockchain for every transaction. More is explained in the section below, “The Elastos main chain + Sidechain mechanism.”

Runtime: The Elastos Runtime is an operating system built to allow users to use the platform from any device as opposed to most projects today that can only run on a blockchain. The Runtime prevents DApps from directly accessing the internet while the blockchain still executes the smart contract on any device.

Carrier: The Carrier acts as the foundation block for DApps. It allows the peers in the network to collect data from the participants and share computational power across the platform.

Elastos SDK: The SDK is set to be used without the Elastos Virtual Machine while giving access to users IDs and carrier services on the decentralized web.

The overall development of the Elastos platform has been largely sponsored by Tsinghua Science Park, the TD-SCDMA Industrial Alliance and the Foxconn Group. The two industry giants have in total combined 200 Million RMB in support of Rong Cheng’s initiative. The blockchain development process has so far been successful with over ten million lines of code published, with four million lines coded by Elastos development team.

  The Elastos main chain + Sidechain mechanism

To reduce the pressure on the main chain and provide a better experience for DApps, Elastos adopts the main chain + Sidechain hierarchical structure. The main chain is only responsible for the circulation of ELA. DApps runs on Sidechains, and through the Elastos main chain + Sidechain transfer mechanism, the secure transfer of value between the main chain and the Sidechain is completed.

The Elastos Sidechain can use any consensus mechanism. At present, the Elastos team has already developed a POW consensus-based Sidechain that can connect with the main chain to complete SPV and DPOS based deposit and withdrawal operations. This POW-based Sidechain can use the computing power of the main chain to ensure its own security.

Merge mining

Illustration showing merge mining between Elastos and Bitcoin

The Elastos blockchain utilizes merged mining with Bitcoin, the process by which consensus is reached on both chains simultaneously. In this case, the Bitcoin blockchain works as the parent blockchain to Elastos, with the Elastos chain as its auxiliary blockchain. This mining strategy saves resources and avoids repeated consumption.

  The ELA token

The native token to the Elastos blockchain is the ELA token. The token allows users to pay transaction fees on the system, trade, buy digital assets on the platform among other functions outlined in the whitepaper. The ELA token was launched through an ICO in 2017.

The ELA token can be divided to the smallest unit 0.00000001 ELA, named Sela in respect to Satoshi Nakamoto. The total supply of ELA is capped at 33 million tokens and will be distributed among the developers’ ecosystem (50%), angel investors (15%), private and public funding (24%), and donation to the Elastos Foundation (11%).

Pie chart showing the distribution of the ELA token (Image: Elastos whitepaper)

  Price Outlook

The ELA token currently trades at $2.15 USD per token representing a slight rise of 1.55% in the past 24 hours. The coin is ranked 91st on Coinmarketcap with a total market capitalization of $31,150,010 USD.

ELA token all-time price chart (Coinmarketcap)

The Development Team

Rong Chen, Founder of Elastos (Image: Steemit)

The Elastos team is headed by Rong Chen, the founder of Elastos Foundation, the project runners of the Elastos project. The project, however, remains an open-source project that is run and developed by the Elastos community members. The developed software source code and documents are published with the free open-source software license.

  Roadmap of Elastos

The project is currently under development and the roadmap offers a clear path on how this development is going to take place and the period the projects should be completed. The official Elastos website offers their Q1 2019 milestones as follows:

January 2019:  

Elastos Carrier v5.2 release to support group message and file transfer / Carrier support for Windows platform.

Elastos Runtime (Browser) for iOS Alpha release / Elastos ToolChain Alpha release.

February 2019:

Elastos Storage Proof of Concept release.

March 2019:

Elastos DPoS Super Nodes election starts

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                        The post Elastos (ELA): The decentralized World Wide Web appeared first on ICODOG.

source https://icodog.io/analysis/elastos-ela-the-decentralized-world-wide-web/

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IBM and Intel: Tensions Emerge Between Hyperledger Blockchain’s Biggest Supporters

IBM and Intel: Tensions Emerge Between Hyperledger Blockchain’s Biggest Supporters

When the governing board of Hyperledger approved a new supply chain project earlier this month, it marked a significant departure for the open-source blockchain consortium.

Sawtooth Supply Chain, as the project is provisionally called, breaks new ground because it’s arguably the consortium’s first to really inhabit the application layer of the software stack. It’s built on top of the Sawtooth framework, which Intel contributed to Hyperledger.

Prior to this, Hyperledger confined its work to the lower layers and eschewed the custom-design of blockchain application code with industry players in mind. That job was left to vendors to carry out in a proprietary manner – as IBM has been doing in its now-live food-tracking supply chain platform with the likes of Walmart.   

Nevertheless, nine of the 11 Technical Steering Committee (TSC) members voted in favor of the new project on December 6. The approval of Sawtooth Supply Chain as a high-level project massively heightens its profile and means it enters Hyperledger’s formal project lifecycle and receives the support which goes along with that (community outreach, marketing, security review, etc.). 

This happened over the objections of the other two members of the TSC, who questioned whether the project belonged within the scope of Hyperledger, CoinDesk has learned. Notably, both of them work at IBM: Arnaud Le Hors, who was absent from the vote, and Chris Ferris, the former TSC chair, who was present but abstained. 

From the sidelines of the enterprise blockchain world, it looks like a tug-of-war has broken out, with IBM and its favored Hyperledger implementation, known as Fabric, on the one side, and the Intel-backed Sawtooth on the other. The latter team also has a budding champion in the form of newly appointed TSC chair, and Sawtooth lead maintainer, Dan Middleton of Intel.

As well as doing engineering further up the stack at the application layer, Sawtooth Supply Chain is the first project sponsored by a non-tech company, U.S. food giant Cargill. As such, the supply chain project, which has yet to be given a permanent name, will likely speed toward faster deployment than its Hyperledger peers. And given Cargill’s involvement, it is a prospective rival to IBM’s Food Trust. 

However, the stakes are higher than a potential competition between supply chain-focused platforms coming out of Hyperledger, as the tensions point to bigger questions around governance.

While IBM argues that putting Hyperledger’s imprimatur on an app-level project could undermine the consortium’s position as a neutral player, others characterized the tech giant’s resistance to the proposal as an attempt to stifle competition.

“This is fundamentally a discussion about what is open source software,” said James Mitchell, CEO of Bitwise, which wrote the bulk of Sawtooth 1.0 code and is contributing to the supply chain project. “And is the structure of an organization like Hyperledger ultimately to be protectionist around a set of commercial interests, or does it have a different set of goals?”

‘Paying rent’

One way to look at the tensions over the supply chain project is as a sign of Hyperledger growing past its origins as an IBM-dominated organization.

Choosing his words carefully, TSC chair Middleton told CoinDesk that part of his job is to ensure diversity within Hyperledger and to retain those strengths from which blockchain gains its preeminence.

He acknowledged that IBM has been a big contributor to Hyperledger and to the open source effort, as have Intel and a lot of other organizations.

“I think it’s important that no one of those organizations undermines the legitimacy of having an open source organization where we are all developing code transparently. We just want to make sure that we have a good balance among all the contributors,” said Middleton.

Mitchell of Bitwise was less diplomatic, claiming that IBM, with its early proliferation of Fabric, has used Hyperledger (and the consortium’s affiliation with the Linux Foundation) as a way to market its services to enterprises – what he called “open-source washing.”

“You want to be able to tell a story about how you are building open source solutions. But where it matters, which is the bulk of the application code, you want to be able to retain proprietary ownership of intellectual property and be able to monetize the solution at that level,” Mitchell said of IBM’s blockchain strategy to date.

“I think people are savvy to this; they realize they don’t want to be paying rent to a large technology provider for the next two decades on these solutions,” he added.

Michell warned that blockchain may represent an even more aggressive form of lock-in than previous enterprise software licensing, once an industry adopts a particular lingua franca of how business is transacted.

“Based on conversations we have had with industry partners we are working with, like Cargill and others, we strongly believe industry needs to own those solutions,” rather than the vendors, said Mitchell.

This could take the form of closed-source, shared ownership amongst those parties, he said, or, better yet, open source software that those industries are building, contributing to and sharing.  

Real or fabricated?

In expressing his concerns about widening the scope of Hyperledger to promote the Sawtooth supply chain project, IBM’s Ferris said this was his personal view and not an IBM-related matter.

He told CoinDesk:

“When we set up Hyperledger initially, we said we would not go into the application space. And we did that for a reason, because we want people to take the frameworks we are building and leverage them. We didn’t want to be perceived somehow as competition to someone who is legitimately trying to build a solution around supply chain.”

Ferris added that the components being built in the new supply chain project are “pretty specific” to Sawtooth right now. That concerned him because, according to Hyperledger Governing Board guidance, top-level tools projects also need to be seen to support multiple frameworks rather than being overly focused on one. 

Rather than be elevated to a top-level project, Sawtooth Supply Chain, in his opinion, should have been placed in Hyperledger Labs. This is where projects deemed too early for TSC approval for incubation, such as sample code from hackathons or research projects, are placed. If a Labs project wants to enter incubation and become a formal project, a project proposal must be submitted for TSC consideration.

Regarding Middleton’s point about the need for greater diversity within Hyperledger, Ferris said this has been addressed, particularly over the last year or so, as many developers from a range of organizations have joined the community. IBM now accounts for maybe 30 percent of the total contributions, he said.

“In Fabric, we are about 40 percent of that total. I mean, it used to be 100 percent. So the number is constantly coming down. Yes, IBM is very committed to the success of Hyperledger. But by the same token, we are also trying not to be overbearing in that investment, “ said Ferris.

Gari Singh, a distinguished engineer and blockchain CTO at IBM, added that while it can be flattering to hear how much IBM has done with Fabric, the lack of contributions from other big industry players is frustrating.

“So you look at Oracle running Fabric; Amazon and their new managed blockchain service actually takes the Fabric samples and uses it, but no contributions back. There are contributions coming but they are coming from the start-ups – we would actually like to see it from the big guys,” said Singh.

True Blue

Elsewhere at last week’s Hyperledger Forum in Basel, Switzerland, some important members of the community took the opportunity to show their respect to IBM.

Casey Kuhlman, CEO of Monax, said the fact that the Sawtooth Supply Chain project has been brought under the auspices of Hyperledger speaks for itself; despite misgivings, IBM ultimately did not stand in the project’s way, he said, adding that in his opinion Big Blue has behaved like a “very reasonable member of the community.”

“Their actions have been, in my opinion, very reasonably self-serving,” Kuhlman said. “Because at the end of the day we are all businesses and we are all trying to make money. We are all self-interested. We should be.”

Hyperledger director Brian Behlendorf said that while evolution is happening within the organization, the focus is still going to be on things that can be generally applicable.

“It’s not going to be just to solving Cargill’s needs for a reusable body of code or template or recipe or whatever for a large number of use cases,” said Behlendorf.

Speaking to the success of the first Hyperledger Global Forum, which saw hundreds of firms from across a wide range of industries descend on Basel for four days of talks and workshops, Behlendorf also wanted to pay due respect to IBM, concluding,   

“We would absolutely not be here if it were not for them.”

Intel’s Dan Middleton at the Hyperledger Global Forum image via Ian Allison for CoinDesk

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[icodogio]

Non-Fungible Tokens (NFT) Explained

Crypto assets are designed to have many different properties. One of these properties is fungibility and non-fungibility. Fungibility is defined in economics as the interchangeability of a unit of a particular commodity to other units of the same product.

For example one unit of currency, a kilogram of gold, a kilogram of sugar, etc. Imagine you had to lend someone $100 note, it wouldn’t matter if they returned the same bill or any other of equal value as long as they return it.

So simply put, a crypto token that is fungible is not unique in any way. It’s also interchangeable with other similar tokens, and it can be easily replaced. Many of these fungible tokens are based on the ERC-20 standard.

However, a non-fungible token is unique and can’t be interchanged with other similar tokens.

For fungible tokens, only quantity matters. Amounts can also be divided into larger or smaller quantities which makes them indistinguishable from the rest.

However, it’s important to note that fungible tokens only work well for tokens that aspire to have a currency like properties as opposed to being unique.

For non-fungible tokens, many are based on the ERC-721 standard. They can be compared to baseball cards where each card has unique information, and it’s rare on its own.

Also, unlike fungible tokens that are divisible to many different units, non-fungible tokens can’t be divided and should be bought or sold whole.

  Key Differences Between Fungible And Non-Fungible Tokens

Fungible tokens are uniform in that they are identical in specification to each other of the same type however non-fungible tokens contain unique attributes and information which makes them hard to replace or swap for example airplane tickets which may look the same but contain different information.

Fungible tokens are divisible to smaller units and it never really matters what unit you get as long as it’s of the same value, e.g. changing notes for coins. However, non-fungible tokens can’t be divided into different units, e.g. your bus ticket can’t be divided into other bus tickets.

Fungible tokens can easily be interchanged with other tokens that have the same value. However, non-fungible tokens cannot be interchanged with other units of the same type.

So, what makes non-fungible tokens unique is that it’s easy to tell how many they are. The blockchain allows for tokens to be added with different properties that make them digitally scarce. It also provides for a decentralized way to maintain, manage and confirm the authenticity of digitally rare items at a low operational cost. 

  Different Applications Of Non-fungible Tokens

Non-fungible tokens have many different applications especially in crypto gaming, crypto-collectibles and also in tokens that represent scarce unique property like houses and artwork. This has opened the doors for putting things like real estate data, certificates, IDs, and any other important information involving real-world assets on the blockchain.

A) Certificates – This includes government-issued IDs, software licenses, school transcripts, academic credentials, birth certificates, warranties and many more. NFTs allow people to reclaim the ownership of their data from birth certificates, school certificates and any other vital identity information without needing a centralized institution storing the data.

B) Crypto Collectibles And Games – In 2017, CryptoKitties was one of the first pioneers of NFTs crypto collectibles. The game involves collecting and breeding digital cats, and each of the cats digital genetic material is stored on the blockchain. Other such kinds of games include CryptoAlpacas and CryptoPunks.

C) Managing Wills – Tokenizing an item or property makes it easier to divide it among many different individuals in equal shares. This applies in a scenario where a person passes away and for example leaves an artwork to several siblings. Since art appreciates with time, they may want to hold onto it. By tokenizing the piece, they can get equal shares and benefit equally as it grows in value with time.

D) Security Tokens And Property Titles – These include art, memorabilia, collectibles and real estate. NFTs provide an excellent and effective way of tokenizing various types of assets. Once they are tokenized they create new investment opportunities.

  Popular Examples Of Non-Fungible Tokens

CryptoKitties

It’s a digital collectible game that was launched in 2017. It involves breeding digital cats that can be traded. The game gained a lot of attention within the crypto community, and it managed to raise $12.5 million from to VC ventures and angel investors. Genesis was the first cat on the platform. It also remains the most expensive cat on the platform after managing sell for almost $120,000.

The ownership of the cats is tracked using smart contracts which are based on the Ethereum blockchain, and they are distributed automatically at the rate of one every 15 minutes.

  CryptoFighters

Released in January 2018, CryptoFighters is an Ethereum crypto collectible game that allows players to collect uniquely generated fighters. Each fighter is different from the others and has their data stored on the blockchain. The stats of each fighter are also stored on the blockchain, and they determine how well they perform in battles.

  Blockchain Art Collective

Blockchain Art Collective is a platform that provides a holistic art identity. It combines different functions of the artist’s signature, a digital certificate of authenticity and a digital catalog raisonne to form a single secure identity which is financially and referentially accessible to anyone in the art world.

  Etherbots

Etherbots is a decentralized app which is based on the Ethereum blockchain. Like other collectible games, the robot wars inspired game allows users to collect weapons and parts and use them to build dynamic robots that they can use to battle other users on the platform.

  Decentraland

Decentraland is an open source virtual reality platform that is based on the Ethereum blockchain. On the platform users can purchase pieces of land which they can later build on, traverse and even monetize. The options are limitless on the platform.

To make purchases in the virtual world, you have to purchase MANA, the native currency of Decentraland. It’s an ERC20 token that can be used to buy land and pay for the in-world goods and services.

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source https://icodog.io/guide/non-fungible-tokens/