Decentraland (MANA): overview of the token and blockchain platform, price, price chart, how to buy or sell, where to store, MANA prospects
Decentraland is an Ethereum-based blockchain platform where users can create unique game content in the form of NFT tokens and then monetize it. The built-in marketplace allows you to buy and sell content using MANA tokens. The gaming ecosystem is based on parcels of land, designated as LAND token, and giving users control over the objects created.
MANA is an ERC-20 token that is burned to receive LAND (1000 MANA = 1 LAND), and also serves to purchase various virtual goods on the marketplace. The token has grown by 40% over the past month and is traded on most popular platforms. On Binance, you can buy MANA with USDT, BUSD, ETH, BTC.
We offer an overview of the project and the Decentraland (MANA) token from the editorial board of Btcnewsweb.com.
MANA token price to USD
MANA to USD chart
|Current issue as of 02.05.21||1 327 372 145 MANA|
|Maximum emission||2 194 396 327 MANA|
|Course on 05/02/21||1,42 $|
|Capitalization as of 02.05.21||1 879 778 673 $|
|Social networks||https://twitter.com/decentraland, https://reddit.com/r/decentraland, https://bitcointalk.org/index.php?topic=1968414.0|
|Exchanges||Binance, Huobi, Crypto.com, OKEx, Kraken, Gate.io, Coinbase and others|
How the Decentraland platform works
Over 90,000 “parcels of land” represented as LAND tokens can be bought and sold by players using the MANA utility token. Site owners can fill them at their discretion:
- Place your own games on them.
- Run applications.
- Create information sites.
- Share artistic creations and more
Each site has a certain size: 33×33 squares (length and width), but there is no height limitation. Several sites together form a “neighborhood” – essentially a community of people related to the same theme, be it fantasy or gambling. District governance is decentralized; MANA holders have the right to vote for changes. Thus, MANA is a key component of the ecosystem on which everything works.
From a technical point of view, Decentraland is similar to other blockchain projects, it works using smart contracts and a consensus protocol. The land content level is responsible for the visual component, and the real-time level is responsible for the peer-to-peer interaction of users with each other.
NFT creation and sale
Decentraland is an effort to create a fully decentralized virtual market economy on the blockchain. Examples of tools provided to users:
- Avatar is a visual representation of the participant. There are many free skins available, but you can also buy unique items such as clothing with MANA. Each avatar (account) is connected to an Ethereum wallet (for example, Metamask).
- Constructor – from ready-made components you can create your own objects placed on the site – buildings, trees, decor, etc.; you don’t need to know programming at all.
- Marketplace – for those who have no desire to create items on their own, there is an opportunity to simply buy them. In addition to items, land and nicknames are on free sale.
Almost from the moment of launch, Decentraland is managed mainly by the DAO (Decentralized Autonomous Organization), which is responsible for the development of the project and can make changes to it. DAO Decentraland controls smart contracts and also owns 222,000,000 MANA (distributed over ten years).
The economic component. MANA, LAND, Estate tokens
The project has an ERC-20 token (MANA) and ERC-721 tokens (non-replaceable NFT – LAND and Estate tokens). The latter have individual characteristics, which is why each individual token is unique, it cannot be replaced by another. Such assets are used to create and evaluate game objects – avatars, clothing, buildings, as well as land.
All 90,000 of the original land plots were auctioned off at the launch of the platform and are now available for purchase on MANA in the Decentraland domestic market, just like other in-game properties. Smart contracts (MANAtoken, LANDregistry, EstateRegistry) are responsible for the characteristics of all types of assets used on the platform. It is noteworthy that the MANAtoken contract can never be changed – according to the developers, they destroyed the private key from it.
The ICO was held on August 8, 2017, at that time 1000 MANA cost $ 24. Since then, the token has risen in value by 5900%, of which 4000% in the last year alone, especially successful for the crypto market.
Where to buy, sell and store MANA?
The following crypto exchanges allow trading the Decentraland token:
Also, being an ERC-20 token, the asset can be bought and sold through decentralized exchanges such as Uniswap. For storage, you can use the Metamask crypto wallet, Trust Wallet, Ledger hardware wallets, cryptocurrency exchange accounts and other wallets that support ERC-20 tokens.
Decentraland is an interesting gaming project that also generates income by creating exclusive content that is in demand. Blockchain gaming is the next generation of online entertainment. However, such solutions have their drawbacks – these are high fees in the Ethereum network, which make small transactions unprofitable. The situation should be corrected with the launch of Ethereum 2.0. A big plus is interactivity, economic interaction with other users, which is carried out entirely on a decentralized basis.