In conjunction with Decentraland, an Ethereum-based virtual reality platform, Samsung Electronics America has entered the metaverse realm.
Samsung has created a virtual replica of its flagship 837 physical stores in Decentraland. The real-world location is 837 Washington Street in New York City’s Meatpacking District, Manhattan. Samsung 837X will be accessible on the Ethereum blockchain for exploration and development for a brief period.
The metaverse is a virtual environment that allows users to interact with each other seamlessly across the internet. Virtual reality devices are needed in order to participate in it. Samsung’s Metaverse is built on top of Decentraland, which hosts decentralized virtual worlds on the blockchain via smart contracts. The contest’s goal is for both companies to get people excited about virtual reality and for developers to spread their wings in a sandboxed environment.
Samsung Electronics America has entered the metaverse realm with the company’s Metaverse contest that it is holding alongside Decentraland, an Ethereum-based virtual reality platform. This furthers its recent efforts to get consumers interested in virtual reality technology via its partnership with Oculus and Gear VR headsets.
The Metaverse contest runs from August 15 through September 9 and allows participants to design a virtual replica of the 837 flagship store in New York City’s Meatpacking District, Manhattan. The Samsung 837X will be accessible on the Ethereum blockchain for exploration and development by contestants for a brief period.
Metaverses are virtual environments that allow users to interact with each other seamlessly across the internet. Virtual reality devices are needed in order to participate in this metaverse realm.
Samsung’s Metaverse is built on top of Decentraland, which hosts decentralized virtual worlds on the blockchain via smart contracts. The goal of this contest is for both companies to get people excited about virtual reality and for developers to spread their wings in a sandboxed environment.
What is Decentraland?
Decentraland is a virtual world built on open standards, where users can buy and develop LAND (3D space).
Users will be able to buy plots of LAND and build whatever they want on it, like 3D structures or applications.
If you own a piece of land, you can generate revenue by displaying ads or charging people who wish to visit the structures on your land.
Owners also have full control over their land, meaning they can choose what content to display on it. Owners are free to either develop or resell their LAND.
Decentraland’s aim is to create a virtual world owned by its users, which is completely different from most virtual worlds today, where large companies are the main landlords.
Creating a virtual world that’s owned by its inhabitants will lead to new types of social interactions, as people will be able to interact with each other under more equitable conditions than in traditional virtual worlds.
Currently, the Metaverse is dominated by centralized, authoritarian hubs like Second Life and Active Worlds, but Decentraland could be the beginning of a new era based on decentralization.
