The protocol aims to create a free haven where players can trade tokenized items that can be redeemed for real products.
Boson Protocol announced yesterday that it had purchased a virtual property in Decentraland in a six-figure deal. The protocol works by automating digital to physical redemptions using non-fungible tokens (NFTs) encoded with game theory.
Decentraland is a virtual reality platform where players can build, explore, and monetize their creations. The virtual map is divided into LAND parcels represented by NFTs that allow users to create experiences and games on their LAND and even calculate other players’ access to them.
Boson Protocol’s new virtual lot, located in the Vegas City gaming district, represents the largest LAND deal in US dollars ever made in Decentraland.
Boson’s efforts to bridge the digital and physical divide contribute to his goal of creating an open tokenized economy for trade, and the newly acquired LAND will be an important part of that mission.
The virtual space will fuel trade and innovation by creating a free haven where creators, artists and sellers can use tokenized real-world products to reward players. These tokens could be redeemed in-store for physical products in the real world.
Augustin Ferreira, Head of the Decentraland Foundation, commented:The Decentraland Foundation welcomes the Boson Protocol. We believe that with their proposal to contribute to the development of decentralized virtual trade, they will contribute to the development of the platform. This purchase is a big step forward, paving the way for other users in the Metaverse, and proving that the gap between the virtual and real world is rapidly closing. “
Boson Protocol has seen many developments lately, including new partnerships with Orion Protocol, Bridge Mutual, Ocean Protocol, and Royale Finance. The protocol also raised $ 10 million in private funding, followed by $ 25.8 million in a public sale earlier this year.
The co-founder of the Boson Protocol, Justin Banon, said of the purchase: “We have incredibly ambitious plans for the country. By providing the ability to buy something in the Metaverse and then own it in the real world, we enable new and exciting experiences that embody the possibilities of dCommerce and allow brands to have direct contact with their customers without intermediaries . There is immense potential for trade in virtual worlds and we look forward to bringing the decentralized autonomous trade revolution to the top of the metaverse. Watch this room. “