Decentraland’s Second LAND Auction
Announcing the date and format for Decentraland’s upcoming LAND auction
Decentraland’s first public LAND auction was held almost an entire year ago, between December of 2017 and January of 2018.
This original auction, or “Terraform Event” distributed the virtual real estate of Decentraland to individuals and groups within our community. It was through this first auction that the Districts obtained their portions LAND and the initial geography of Genesis City was established.
Over 161 million MANA was spent on 34,356 parcels of LAND during the first auction, amounting to roughly $30 million USD at the time! However, after the conclusion of the auction there were still 9,331 LAND parcels left unowned…
Introducing the next LAND auction
A second LAND auction is the best avenue for existing and new users to obtain unowned LAND. Another LAND auction would provide everyone with a fair and equal chance to get new LAND at a reasonable price.
Two weeks ago a public poll held on Decentraland Agora, the community’s voting platform, asked when this second LAND auction should be held: either in the fourth quarter of 2018, or the first quarter of 2019. The community voted overwhelmingly in favor of Q4 2018.
So, we are eager to announce that Decentraland’s second LAND auction will begin in the second week of December, 2018!
How will the second LAND auction work?
The LAND auction will last for up to two weeks, taking the format of a Dutch auction, in which all available parcels will be set at the same starting price. Over the course of the auction, this price will gradually decrease.
There is no bidding. All you have to do is place an order for the parcel or estate you want once it reaches your desired price.
What do I need to participate?
All you need to purchase LAND in the auction is a MetaMask, Mist, Ledger, or Trezor wallet containing enough MANA to buy the parcel or parcels you are interested in.
MANA spent on LAND during the auction will be burned, or removed from circulation.
How can I learn more?
Lots of additional information about the auction explaining how it will work, and how you can make the most of this opportunity, will be available over the coming several weeks. Please follow us on Twitter for the most recent updates.