What is Decentraland? What MANA is used for?
Entertainment, Social Networking, and monetizing are the three main reasons people use the internet daily. One of the attractive environments including all those three mentioned above in one is Decentraland; A virtual world where allows the users to meet people, earn money and be entertained. Want to know more? Stay tuned.
What is MANA?
Decentraland is a 3D digital environment having parcels where players can buy, build in their favorite property and have real-world activities. Despite the countries we live in that are governed by a central force (mostly called governments), Decentraland is controlled and run by the members.
MANA is the native ERC-20 token of the platform. Decentraland members can buy LANDs or any other digital assets by using $MANA.
The intriguing feature Decentraland offers is the token burning process it has per every purchase of a parcel in Decentraland. Meaning that every single $MANA spent buying parcels will be taken out of the circulation.
MANA has an approximate limited supply of 2,193,543,527 tokens of which reportedly 1.8 million tokens are in circulation.
What is LAND?
LAND is a type of NFT representing a parcel in metaverse purchasable by MANA in your wallet based on Ethereum smart contracts. As long as your LAND is an NFT, it can not be substituted or subdivided and you can claim the ownership.
MANA is metaverse
Each parcel represents a 16×16 LAND which will be identified by its unique coordinates on the map. In Decentraland You can sell and buy parcels using MANA or build DApps, games, animations or entertainment parties.
There are 90,000 lands in metaverse where by buying the adjacent lands you can build a state and form your community. You can even use Agora, Decentraland’s specific DApp for the elections.
MANA future
At first MANA was 0.024 dollars. But after a couple of months, unexpectedly it reached 10 times more than the first price to 0.24 dollars. But the main point is the price growth in December 2020; where all of a sudden MANA reached 0.80 dollars and after a couple of weeks it went to 1.63 dollars which was shocking! But the all time high that MANA has faced is 5.80 dollars on 25th of November, 2021.
Decentraland advantages
Complete ownership over assets
As long as Decentraland is on Ethereum blockchain, It has provided the users to experience creating digital assets and trade them through a game-like universe and have a complete control over their assets with no third parties involved. For more stability, Decentraland uses smart contracts with DAO managing them.
Powerful Price Growth of MANA
As mentioned above, MANA showed up at first in 0.024 dollars which is a low price for a giant project like Decentraland. But a 618% growth over the last year, a great infrastructure has made MANA so trustable to invest in.
Biggest LAND sell in metaverse
Republic Realm, one of the subset companies of Republic investing platform, Purchased 259 lands at once with a price of 913,228,28 dollars in which 1,295,000 tokens burnt which still is the biggest transaction of Decentraland History!
Last Word
Buying LANDs in metaverse can happen through various platforms with different features where you can buy, sell and trade digital assets and live like a real world in a virtual game-based universe.