What is Decentraland?
Decentraland is a decentralized and Ethereum-based virtual reality platform where users can buy virtual land in an online server that they can customize, develop, and monetize with various applications. It is completely owned and managed by users, making it the first digital platform of its kind. Depending on the transaction, Decentraland uses two forms of currency: MANA and LAND.
History and Vision
Initially introduced in August 2017, Decentraland aims to provide a safe, decentralized market of digital assets by having users interact in an open traversable 3D world where they can purchase and develop their virtual land. Two significant developments occurred in December 2017 and 2018, where users initially purchased LAND at public auctions.
MANA is the ERC-20 token used in transactions not related to land, including in-world purchases for items or services. To acquire non-fungible LAND, users will need to burn their MANA tokens that they wish to convert, which is an ERC-721 token.
LAND, the spaces that users can claim in the world, are divided into “parcels” that are 33x33 feet and have no height limit. Plots of LAND are further grouped into “districts” or little communities that share similar interests and services with neighboring LAND. All user transactions and LAND ownership is validated and stored on the Ethereum blockchain. Decentraland on the Market
The price of Decentraland today is $0.078656 with a ranking of #103 on Crypto.co. It has a 24-hour trading volume of $13,392,680 and a market cap of $116,708,374. While the max supply of MANA tokens is not available, it currently has 1,483,785,948 tokens in circulation.
How to Purchase and Store MANA
MANA can be purchased on a wide selection of digital exchanges such as Coinbase, Crypto.com, and ZenGo, to name a few. While you can directly exchange USD for MANA, you can also convert from other cryptocurrencies such as bitcoin (BTC) or Ether (ETH). In order to protect your digital assets from theft or hacking, it would be wise to move your funds into a private wallet where you possess the private keys to access it.
What are Decentraland Frequenty Asked Questions?
Where does Decentraland (MANA) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Decentraland currently ranks in position 36 out of the thousands of cryptocurrencies. It is also important to consider Decentraland‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Decentraland has a market cap of $ 6,136,166,930, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 1,029,627,115,624, Litecoin at $ 13,139,592,926, Ethereum at $ 482,963,911,625, Tether at $ 74,084,667,513, and XRP at $ 43,843,188,056.
What is the price of Decentraland (MANA) today (updated in realtime)?
The current price of Decentraland is $ 4.62 in USD. (The price in Euros is 4,08 €; and the price in Bitcoin is Ƀ 0.00008500 BTC.)
What is Decentraland‘s (MANA) market supply?
The total available supply of Decentraland is 1,327,372,146 MANA. The total supply of Decentraland is 2,193,980,227 MANA.
What is the 24 hour volume for Decentraland (MANA)?
The 24 hour volume for Decentraland is $ 1,729,277,202.
How has Decentraland (MANA) performed recently?
Decentraland‘s price has increased in the last 24 hours by 2.51%. This compares with a seven day change of 14.56%. The trading volume over the last 24 hours was $ 1,729,277,202. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Decentraland (MANA) official website?
Links to Decentraland‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Decentraland (MANA) performed well historically?
Here is a chart showing how Decentraland has performed historically.
Where Can I Buy Decentraland (MANA)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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- Online content streaming is dead. Long live the music NFTsCointelegraph.com News - 14 hours agoGoodbye Spotify, music nonfungible tokens have arrived: Reimagining the music streaming model in the Web 3.0 era. The music industry has undergone a massive transformation…
- The Holy Grail for crypto traders: Consistent average returns over 5%Cointelegraph.com News - 15 hours agoOver 2,000 data points consistently demonstrate a singular truth: Crypto asset prices tend to increase when this quant algorithm identifies bullish conditions. If you look…
- Facebook’s centralized metaverse a threat to the decentralized ecosystem?Cointelegraph.com News - 18 hours agoFacebook’s metaverse plans have caused discomfort in the crypto community, but there’s every reason to believe in a decentralized future for metaverses. Facebook has been…
- NFTs as micro-social networks: The path to crypto adoptionCointelegraph.com News - 19 hours agoNonfungible tokens could be a step toward new social interactions, a notion that might not be as far-fetched as it sounds. Nonfungible tokens (NFTs) are…