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Finance

Samsung Adds Support for Blockchain VR Platform Decentraland

Samsung’s Blockchain Wallet App now supports the native tokens of Decentraland, LAND and MANA.

By Sebastian Sinclair
AccessTimeIconJul 21, 2020 at 9:33 a.m. UTC
Updated May 9, 2023 at 3:10 a.m. UTC
(Decentraland)
(Decentraland)

Global tech giant Samsung is adding support for blockchain-based virtual world Decentraland to its wallet app.

  • The Ethereum-powered platform allows users to monetize and build a virtual world using non-fungible tokens (NFTs), or crypto collectibles.
  • According to a Decentraland announcement on Monday, the platform’s native tokens, LAND and MANA, are now supported by the Samsung Blockchain Wallet App. 
  • Non-fungible LAND tokens represent parcels of virtual real estate, according to the marketplace’s website, making it easy to trade land parcels with other Decentraland inhabitants.
  • Fungible MANA tokens, based on the ERC-20 standard, are used to make in-game purchases and are burned (destroyed) in order to buy LAND.
  • A 3D virtual world in the vein of Second Life, Decentraland differs in that it is owned by its users, co-founder Esteban Ordano previously told CoinDesk.
  • Samsung unveiled a cryptocurrency wallet in early March 2019 for its flagship phone at the time, the Galaxy S10.
  • The tech giant has expanded support for cryptocurrencies and blockchain projects across its more budget-friendly-phones, where it has also continued adding dapps in its Blockchain Keystore.
  • CoinDesk reached out to Samsung for more information but did not receive a reply by press time.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.