Decentraland PriceMANA

Decentraland relies on two tokens: LAND and MANA. Burning MANA, an ERC-20 token, generates non-fungible ERC-721 LAND tokens. Various avatars, wearables, names, and other items may also be purchased on the Decentraland marketplace using MANA tokens.

Users of the decentralized virtual world platform Decentraland (MANA) may produce, test, and monetize content using software built on the Ethereum blockchain. Basically, users purchase virtual land plots on the Decentraland platform using MANA tokens as NFTs. Each player must rely solely on their own initiative, creativity, and will to advance in the game.

Users have full ownership of the digital platform. In the Decentraland metaverse, users may go on virtual world adventures, buy monetizable plots of land, make art, own NFTs, and even join the platform's decentralized autonomous organization, the Decentraland DAO. The DAO allows the community to have a say in the project's trajectory of development.

Tokens known as MANA and LAND control the flow of information in Decentraland. Users are also able to communicate with the platform using these.

Decentraland's authorized currency is MANA. It's an ERC-20 standard coin that drives the Decentraland platform. Users of MANA can buy LAND plots and pay for services and goods found in-game.

Who Are the Founders of Decentraland?

Decentraland was co-founded by Ariel Meilich and Esteban Ordano — both of whom have stepped down from major positions at the project, but still work alongside Decentraland as advisors. Ariel Meilich previously held the role of project lead at Decentraland between 2017 and 2020 and is an entrepreneur who has founded several other startups, including an online translation agency and a CRM platform. He also worked as an analyst at Charles River Ventures, a prominent Silicon Valley venture fund. On the other hand, Esteban Ordano is Decentraland's former tech lead and has a long and varied history in the cryptocurrency space working as a software engineer at BitPay, Inc., an advisor to Matic Network and briefly operating his smart contract development firm known as Smart Contract Solutions. Although Ariel and Estaban are no longer leading the project, the development of Decentraland is still ongoing, with efforts being directed by the recently established Decentraland Foundation.

What Makes Decentraland Unique?

Decentraland caters to content creators, enterprises, and individuals seeking a fresh artistic medium, commercial prospects, or a form of entertainment.

The Decentraland gameworld, known as the "Metaverse," is made up of 90,601 distinct parcels of LAND. Each parcel is represented by a non-fungible token called an ERC-721. Each parcel of land measures precisely 16 meters by 16 meters, resulting in a total area of 256 square meters. These pieces of land are located at certain coordinates throughout the Metaverse.

While LAND holders have the freedom to develop their plots in whatever way they like, the majority of the Metaverse is often categorized into several districts, each with varying sizes and themes. These districts were created by separate crowd sales for MANA tokens, and parcels of LAND inside these districts are non-transferable.

Decentraland belongs to a growing number of initiatives that employ a decentralized autonomous organization (DAO) framework for making governance choices. Consequently, MANA token holders have the authority to determine the behavior of the Decentraland universe. They may propose and vote on policy changes, the details of future LAND auctions, and the permissible forms of content inside the Metaverse.

In addition to serving as a means of creative expression, several Decentraland users already generate income from their LAND by engaging in activities like renting, publicity, and offering paid experiences. Similarly, other users earn revenue by producing and vending goods on the Decentraland marketplace in exchange for MANA tokens.

How is the Decentraland Network Secured?

MANA is classified as an ERC-20 token. This indicates that it is built upon the Ethereum blockchain.

Ethereum is protected by an extensive decentralized network of miners, who collaborate with many nodes to guarantee the security of the Ethereum blockchain and, consequently, the protection of MANA tokens against potential assaults.

Ethereum, being extensively tested in battles, is now the foremost blockchain in use. It is the preferred network for crypto coins that lack their native blockchain.

Where Can You Buy Decentraland (MANA)?

The MANA token now has high liquidity and can be acquired, traded, or sold on about 100 diverse exchange platforms. Binance, OKEx, and Coinbase Pro are currently the most liquid exchanges for MANA tokens as of January 2021. The whole inventory of accessible marketplaces may be seen in the "Markets" section.

Currently, MANA can be exchanged for Bitcoin (BTC), Tether (USDT), and Ethereum (ETH). Additionally, it can be bought using several fiat currencies such as KRW and USD.

Conclusion

In summary, Decentraland is a decentralized gaming platform and 3D virtual reality environment where players have ownership of virtual land and may construct without restrictions. The fundamental component of the Decentralized Autonomous Organization (DAO) is the software, which operates independently. The community holds the authority to manage the coin's affairs. Players engage in ecosystem management, auction system participation, and in-game policy through their use of the native token MANA.