PRIVATELAND is a virtual reality platform powered by the binance smartchain BEP20 blockchain. Users can create, experience and monetize content and applications. Land and Property in Privateland is permanently owned by the community, giving them complete control over their creation. Users claim ownership of virtual land and property on a blockchain-based package ledger. Land and property owners control what content is published to their piece of land, which is identified by a set of Cartesian coordinates (x,y). Content can range from static 3D scenes to interactive systems such as games. Land is a rare digital asset that can be exchanged, transferred and stored in the Binance smartchain smart contract. It can be obtained by exchanging a BEP20 token called $PLand. $PLand can also be used to purchase property, digital goods and services in the PRIVATELAND world. People spend more time in cyberspace, both to build property, relax or work and other activities like the real world. This happens mainly in 3D interfaces like web and mobile. But the traversable 3D world adds an immersive component as well as proximity to other content, allowing for a physical grouping of communities. Unlike cyberspace and other social networks, PRIVATELAND is not controlled by a centralized organization. There is no single agent with the power to change software rules, land content, currency economies, or prevent others from accessing the world. This document describes the philosophical underpinnings, technical foundations, and economic mechanisms of PRIVATELAND.