Decentraland’s ICO took place on august 17th and was a big success, if we only look at the amount of money raised, 25M dollars.
But the thing is, the money got raised in less than 1 minute, and many investors didn’t have the chance to get tokens at that time.
Many of Decentraland supporters were disappointed to be left out and express concerns about the decentralized promise of the platform.
A lot of investors, sent Ethereum to get Decentraland Tokens in the first minute, but didn’t manage to buy. Some of them got their money back while others even today they are trying to get their funds back, but the questions remain. How was this possible, and why?
This happened because a handful of early investors, pools, and smart contracts got most of the tokens, shutting out most buyers who waited until the official public sale as described in their official guide.
Decentraland is building a virtual reality platform. The idea behind Decentraland is to build a virtual ecosystem that is community-owned. Various use cases for this decentralized VR world can be identified.
In DECENTRALAND, the bought tokens would be used to buy LAND (virtual real estate) which can be monetized in-world by building applications or businesses such as casinos.
To make this conceivable, Decentraland uses the Ethereum blockchain.
With this start Decentraland will become unused or usable by just a hand of a few until it becomes absolute and unused because of the low distribution among peers with real interest. Decentraland due to greed they probably have decided to sell everything they could with funds from Chinese VC’s and Group Buys in order to get their TOKEN “Mana” pumped and somehow attract people to buy over-expensive virtual-lands.