The traversable virtual space within Decentraland is called LAND, a non-fungible digital asset (ERC-721) that is divided into 16m x 16m parcels. These parcels are permanently owned by members of the community and are purchased using MANA – Decentraland’s native cryptocurrency token. Some parcels are organized further into themed communities, called Districts, allowing users to create shared spaces with common interests.What is the Decentraland DAO?

DAO stands for "Decentralized Autonomous Organization". The Decentraland DAO owns the most important smart contracts and assets that make up Decentraland – the LAND Contract, the Estates Contract, Wearables, Content Servers and the Marketplace. It also owns a substantial purse of MANA which allows it to be truly autonomous as well as subsidize various operations and initiatives throughout Decentraland.