Whether you’re an online gamer or content creator, Decentraland is the one-stop destination for you. Decentraland is the virtual reality platform that allows people to build applications and monetize content. Everything is virtual, people can buy land on the Decentraland and they can use that land according to their choice. They can give the land to lease or place an advertisement.
Want to know more information about Decentraland? Yes! Without further delay, let’s dive into the topic. In this article let’s discuss what is Decentraland, its uniqueness, how it works and a lot more.
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What is Decentraland (MANA)?
If you’re planning to invest in Ethereum, then you need to know about Decentraland. It is the software that runs on Ethereum (ETH) that aims to incentivize the worldwide network of investors to use the shared virtual globe.
Here is the good news for all the investors out there! Investing in Decentraland is the best option, you can buy or sell real estate digitally. On the other hand, you can explore, interact and play virtual games at your convenience. Over the time period, Decentraland has developed to implement highly engaging interactive applications, peer-to-peer communication, global payments and more.
Sounds interesting right? Yes! There are two types of coins that govern operations in the Decentraland i.e LAND and MANA.
LAND – It is a non-fungible token that is mostly used to specify the ownership of the land which is represented as virtual real estate.
MANA – It is the powerful cryptocurrency or digital token that enables purchases of virtual goods, services and lands that are used in the Decentraland.
Another attractive thing about Decentraland is the changes or new developments to the software are passed through the set of smart contracts. This allows users who invest in MANA will have an opportunity to vote on the new policy updates and land auctions.
Who created Decentraland (MANA)?
There are two people involved in the creation of the Decentraland – Esteban Ordano and Ariel Meilich. Both the founders have been footed back from their position at the Decentraland project, but these two founders are working as advisors for the better development of Decentraland.
Esteban Ordana worked as the tech lead at Decentraland. He has good experience in the cryptocurrency space, he worked at BitPay as a software engineer. He also operated a smart contract development organization called “Smart Contract Solution”.
Ariel Meilich worked as the project lead from 2017 to 2020 at the Decentraland project. He is a popular serial businessman who has founded many startup companies, including CRM platforms, online translation companies and more. Ariel also worked at Charles River Ventures as an analyst.
Currently, these two co-founders are not leading the Dentraland project, but the development and improvement of the project.
What makes Decentraland (MANA) unique?
Decentraland (MANA) is introduced for businesses, individuals, gamers, content creators and people who are looking for business opportunities. MANA is built as the key source of fun and entertainment for global users.
Explore lands, experience scenes, structures and more. Start exploring space adventure and other incredible games. The gaming station at Decentraland is divided into around 90,601 LAND parcels, every parcel is represented by an individual NFT. In virtual terms, every LAND parcel is around 16 square meters. This LAND can be located in the Metaverse. According to the LAND holder choice, they can design their plot. Keep a note, the plots of Metaverse are split into unique districts with multiple sizes and also themes. Here these distinct districts are developed through crowd sale for the MANA token.
As mentioned above, MANA holders will get an opportunity to vote or share their views on the latest policy updates, LAND auctions, content type that is permitted in Metaverse and more. It seems like Decentraland values its holders a lot. Most of the Decentraland (MANA) users are monetizing their plots – leasing, advertising, selling items, creating items and more.
Decentraland is an amazing place to test your imagination. Yes, you’ve heard it right. Within a few simple steps, you can create excellent scenes, amazing artworks and more. All you need to use is the Decentraland builder tool for creating. You can also participate in Decentraland events and win prizes. Whether you’re planning to build a new game or develop an existing one, Decentraland is a good option for you.
How many Decentraland (MANA) coins are there?
The current price of the MANA token is $2.97 USD. There are 1 billion MANA tokens with a trading volume of around $541,283,648 USD. The maximum supply is fixed to 2 billion MANA tokens.
How does Decentraland (MANA) work?
As per Decentraland white paper, its protocol includes 3 individual layers i.e
Consensus layer – It is designed for tracking the individual ownership of the land parcel and also virtual items that are associated with the game.
Land content layer – This layer is specially introduced for content creators, Decentraland acts as the decentralized storage platform for uploading content such as audio, video and other files.
Real-time layer – For all the gamers out there, this is just for you. Decentraland allows multiple avatars to communicate with each other in real-time. Both male and female avatars are available. You can also play as a guest.
As mentioned above, MANA is the native token for Decentraland. It plays a significant role in the Decentraland system. MANA tokens are available on several exchange platforms such as Binance, Kraken and more. If you’re planning to play a real-time game, you need to buy items with MANA tokens. In fact, avatar costumes need to be purchased using MANA itself. Another attractive feature of Decentraland is, users can convert MANA tokens into wMANA (wrapped MANA). This helps them to vote whenever a new update is introduced. 1 MANA coin = 1 Vote.
LAND owners also play an important role in Decentraland. These are the people who own the MANA tokens which represent an individual plot in the Decentraland. Holders will have the right to vote. On the Decentraland, the price of the land may vary depending on the location. On average, the plot value ranges from $3000 to $60000.
In a nutshell
Decentraland is the powerful decentralized virtual reality (VR) platform that is empowered by Ethereum (ETH) blockchain technology. Decentraland users can build their own art galleries, theme parks and more. These users will charge certain amounts of money for other users to visit. Decentraland is a non-fungible asset that is divided into 16 square feet. These plots will be owned by community members. They use MANA tokens to purchase the LANDS. MANA is the native coin for the Decentraland. There are few parcels called distinct districts, allowing the user to build a shared location that has common interests. For example, users who are interested in gaming can share one common district.
