Decentraland MANA

1. Summary

Ranks

Liquidity

99

Developer

34

Social

99

Momentum (beta)

24

Stack Rank™

36

Price

$0.45 -7.8%

Market Cap

$844.64M (#101)

Supply

1.85B / 2.19B

Tags

Entertainment NFT Metaverse Polygon Ecosystem Play To Earn Ethereum Ecosystem BNB Chain Ecosystem Alleged SEC Securities

More Metrics

Price
52W High price	$0.81
52W High date	8th Feb 2023 (1 year ago)
All Time High (ATH) Date	25th Nov 2021 (2 years ago)
ATH Price	$5.85
% From ATH	-92.63%
All Time Low (ATL) Date	31st Oct 2017 (6 years ago)
ATL Price	$0.009236810000
% From ATL	4565.52%

Supply & Trading Volume
Trading Volume (24h)	$70.40M
Total Supply	2.19B
Max Supply	2.19B
Circulating Supply	1.85B

Less Metrics

Description

Decentralized is this crypto-based virtual world that uses its own cryptocurrency known as MANA to allow you to purchase outfits, virtual scenes, or even land parcels in-game. The Decentraland world is huge, and it’s a showcase of how Non-Fungible Tokens can be implemented.

Read More

Decentralized is this crypto-based virtual world that uses its own cryptocurrency known as MANA to allow you to purchase outfits, virtual scenes, or even land parcels in-game. The Decentraland world is huge, and it’s a showcase of how Non-Fungible Tokens can be implemented.

This is essentially a 3D world built on blockchain which is governed by a decentralized autonomous organization (DAO) and lets you explore and build in an open world, while also having the ability to socialize. The unique aspect of this game is the fact that it is split up into units of LAND, which are its NFTs.

The MANA Token Explained

Through the usage of the MANA token, you can purchase in-game items, LAND, and other customizable items. It is built on Ethereum with the ERC20 standard for tokens, and can be bought or sold for FIAT currency alongside any other cryptocurrency, and can be stored in a cryptocurrency wallet.

Features of Decentraland

Discussing the LAND of Decentraland, each LAND parcel is 16x16 meters in size and is represented by an NFT (Non-Fungible Token). This can essentially be seen as a unit of data on the blockchain itself that is unique and not interchangeable. Keep in mind that the total number of parcels is capped at 90,000, and the developers of the project own the common spaces, which cannot be bought or sold by users. However, this scarcity is one of the main drivers of value in LAND.

When it comes to making changes to Decentraland, they are enacted through a collection of blockchain-based smart contracts. These allow participants that own MANA to vote on the policy updates, land auctions as well as new developments.

The consensus layer maintains a ledger that tracks the ownership of each land parcel, and each LAND has a unique coordinate on this virtual world, where an owner and a reference to a description file that represents the content is within the parcel.

This includes various files that are required to render each parcel, such as content files, with reference to all of the static audio as well as visuals, script files, that define the placement as well as the behavior of the referenced content, as well as the interaction definition which works through a peer-to-peer network to allow for interactions such as gesturing, voice chat and messaging.

Founders of Decentraland (MANA)

Discussing the founders of Decentraland, it actually has two of them.

First, we have Ariel Meilich, and then we have Esteban Ordano. Both of them have stepped down from major positions surrounding the project, however, they work alongside the project as advisors.

The unique aspect about Ariel Meilich is the fact that he worked as a project lead on Decentraland between 2017 to 2020, and he has also founded several other startups.

The unique aspect about Esteban Ordano is the fact that he worked as a former teacher lead at Decentraland, and has a long history in the cryptocurrency space. In fact, he worked as a software engineer at BitPay, Inc, and was actually an advisor to the Matic Network. He also co-founded Zeppelin solutions.

Show Less