Decentraland, a distributed platform for a shared virtual reality world in which participants navigate, discover, and interact with others, has announced three strategic partnerships ahead of the token launch for ERC-20 token MANA, commencing today on August 17, 2017, and capped at $25 million USD.
- Leading Chinese wallet imToken by ConsenLabs will offer Decentraland tokens for direct purchase via its app while also allowing users to join the virtual world on mobile devices.
- Connext will enable supporters to purchase Decentraland tokens by credit card.
- Regulated financial service provider Bitcoin Suisse AG will offer KYC/AML services and a discount to purchasers.
In a related announcement, Decentraland has added Xiaolai Li, Founder of blockchain-focussed venture capital company INBlockchain Inc, to its Board of Advisors.
Decentraland’s partnership with Bitcoin Suisse AG, a regulated financial service provider specializing in the decentralized financial markets and in crypto-assets, involves the company being entrusted with and ensuring allocation of MANA tokens equivalent to $3,000,000 USD. Tokens allocated through Bitcoin Suisse will have a 40% discount included in the allocation rate of 24 USD/1000 MANA. These tokens will be offered and distributed to the public through Bitcoin Suisse AG on a first-come-first-serve basis.
Decentraland Project Lead Ari Meilich said:
“Decentraland is proud to partner with industry leaders imToken, Bitcoin Suisse, and Connext ahead of our highly-anticipated token launch. With strong global demand for our MANA tokens, Decentraland is confident that these partnerships will give our supporters easier access to participate in the token launch and more convenient trading along with enhanced services.”
“Decentraland has seen great interest from Chinese supporters and we are delighted that our partnership with imToken, the first Chinese Ethereum-based wallet, will enable them to safely participate via their PC, Mac, Android, and iOS devices. The partnership will also support Decentraland’s expansion into more markets due to the global popularity of the imToken wallet.”
“We are focused on increasing accessibility to Decentraland’s virtual world and providing users with the best experiences possible. By avoiding the high friction associated with buying cryptocurrencies, Connext will help Decentraland better reach a wider audience that is unfamiliar with the cryptocurrency industry.”
Decentraland’s new partnership with leading Chinese mobile Ethereum wallet imToken will let imToken users safely participate in the Decentraland token launch directly through the ICO Pro DApp in the digital wallet. As one of the few mobile wallets compatible with Ethereum-based ICO tokens, imToken users can view the progress of the Decentraland ICO, including funds raised, amount of MANA tokens issued, and the number of contributors.
Following the token launch, Decentraland will be fully integrated as a DApp within imToken, letting supporters purchase MANA tokens via the wallet’s easy-to-use interface as well as store and trade their newly-purchased MANA tokens in the assets tab of their wallet.
In addition, imToken users will be able to access and engage in the Decentraland virtual world on their mobile devices, utilizing the DApp to create, experience, and monetize content and applications on the Decentraland platform.
Through Decentraland’s partnership with Connext, MANA tokens will be available to purchase with credit cards. Connext will process credit card transactions and issue MANA tokens directly to users via a smart contract, helping to protect against fraud and charge reversal.
Developers can build and monetize applications on the Decentraland platform and use MANA to buy LAND and other in-world goods and services. The value of LAND is based on its proximity to high-traffic hubs, and its ability to host in-demand applications. Decentraland has partnered with district0x, a collective of decentralized marketplaces and communities, to give users the ability to trade land in the secondary market. Although unclaimed LAND can be purchased at the same exchange rate (1,000 MANA = 1 LAND), differences in positions and traffic could potentially see LAND parcels trade at different prices on a secondary market.
Funds raised in the token launch will be distributed as follows: 50% will be reserved for development, 20% for research, 15% for marketing and community development, 10% for operations and business development, and the remaining 5% for legal costs. A Continuous Issuance stage will follow the conclusion of the token launch event, allowing a decreasing percentage of the initial supply of MANA to be bought from the smart contract each year, with limited supply over time. Decentraland intends to protect the token from inflation by making users burn MANA to claim LAND.
Further, Decentraland as noted above, has added INBlockchain Inc Founder and industry leader Xiaolai Li to its Board of Advisors. INBlockchain Inc is China’s premiere blockchain venture firm offering consultation on blockchain adoption, integration, technology, law, and software development. Xiaolai is also the Co-founder of Yunbi, one of the top five largest cryptocurrency exchanges, and Press.One, a decentralized publishing platform. Prior to INBlockchain Inc, Xiaolai was also an early investor in EOS, Sia, and ZCash.
Decentraland’s Board of Advisors also includes some of the industries’ most respected figures including Project Lead of Aragon Luis Cuende, Founder of CoinFund Jake Brukhman, and The Web Electric Corp Founder Diego Doval.
Ari Meilich further said:
“Decentraland has seen a strong demand from the global community for participation in its token launch and virtual world. Our partnerships with industry leaders like imToken, Connext, Bitcoin Suisse, Aragon, and Zeppelin Solutions have positioned us firmly in the lead to becoming the first fully decentralized virtual economy that revolutionizes the gaming industry.”
Supporters can participate in the token launch which begins on block 4170700 roughly August 17, 5:00 PM PST / 8:00 PM EST in the US, August 18, 1:00 AM in the UK, and August 18, 8:00 AM in China.
Ari has recently published a short essay regarding the SEC’s announcement on ICOs as potential regulated financial securities.