The protocol aims to create a free port where players can exchange tokenized items that can be redeemed for real-world products.
Boson Protocol announced yesterday that it had purchased a virtual property in Decentraland for a six-figure amount. The protocol works by automating digital to physical withdrawals using non-fungible tokens (NFTs) encrypted with game theory.
Decentraland is a virtual reality platform where players can build, explore and monetize their creations. The virtual map is divided into plots from LAND, which are represented by NFTs. With these, users can build experiences and games on their LAND and even ask other players for their access to the cashier.
Boson Protocol’s new virtual property is located in the Vegas City Gaming District and represents the largest LAND deal ever completed in decentraland in US dollars.
Boson’s efforts to bridge the gap between digital and physical contribute to his goal of creating an open tokenized economy for trade, and his newly acquired LAND will be an important part of that mission.
The virtual space will drive commerce and innovation by creating a free port where creators, artists and sellers can use tokenized real-world products to reward players. These tokens can be exchanged for physical products in the real world through redemption in stores.
The head of the Decentraland Foundation, Augustin Ferreira, commented: „The Decentraland Foundation welcomes Boson Protocol. We believe that with your proposal you will contribute to the development of the platform to contribute to the evolution of decentralized virtual trading. This purchase is a big step forward that points the way to other users in the Metaverse and proves that the gap between the virtual and real world is closing rapidly.“
Boson Protocol has seen many developments recently, including new partnerships with Orion Protocol, Bridge Mutual, Ocean Protocol and Royale Finance, to name a few. The protocol also raised $ 10 million in private funding, followed by $ 25.8 million through a public sale earlier this year.
The co-founder of Boson Protocol, Justin Banon, said about the purchase: „We have extremely ambitious plans for the country. By offering the opportunity to buy something in the metaversum and then take possession of 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 the need for intermediaries. There is immense potential for trading in virtual worlds, and we look forward to bringing the decentralized, autonomous commerce revolution to the forefront of the metaverse. Keep an eye on this area.“