The token’s market cap was US$4.6bn and it was ranked as #42 on Coinmarketcap.com
What’s Decentraland (MANA)?
Decentraland (MANA) is a digital actuality platform powered by the Ethereum (ETH) blockchain.
It permits customers to create, expertise, and monetise content material and purposes.
On this digital world, in any other case known as a ‘metaverse’, customers should purchase plots of land that they will navigate, construct upon and monetise.
MANA is an Ethereum primarily based token that’s burned to accumulate NFTs within the platform’s metaverse.
They may also be used to purchase avatars, wearables, names, and extra.
Who created Dectrantaland?
Decentraland was co-founded by Ariel Meilich and Esteban Ordano – each have since stepped down from main roles, however nonetheless act as advisors.
Meilich is an entrepreneur who has based a number of start-ups and was an analyst at a enterprise fund.
Ordano has a historical past within the cryptocurrency world working as a software program engineer, an advisor and he operated his personal sensible contract improvement agency, and, additionally established a blockchain know-how infrastructure firm.
Decentraland was launched in 2017 following a US$24mln preliminary coin providing (ICO), earlier than opening to public customers in 2020.
What makes Decentraland distinctive?
Decentraland is constructed for content material creators, companies, and people which are looking for a brand new inventive medium, enterprise alternatives, or a supply of leisure.
The Decentraland recreation world is split into 90,601 particular person parcels of LAND, every represented by an NFT.
Every LAND is 16 sq. metres (just about) and might be discovered at a selected coordinate within the Metaverse.
LAND holders can develop their plot into something, though a lot of the Metaverse is split into distinct districts with completely different sizes and themes.
These districts have been generated by means of particular person crowd gross sales for MANA tokens.
MANA holders suggest and vote on coverage updates, the specifics of LAND auctions, and the varieties of content material allowed within the Metaverse.
Many Decentraland customers monetise their LAND by means of leasing, and promoting, whereas others create and promote objects for MANA tokens.
What number of MANA cash are in circulation?
There are 1.8bn MANA cash in circulation out of the present complete provide of two.2bn.
There are burn mechanisms to cut back the circulating provide of MANA, together with a 2.5% MANA burn on Decentraland market transactions.
40% of the MANA provide was offered throughout the 2017 ICO, whereas the remaining 60% was cut up equally between the corporate, group, improvement staff, and early contributors.
On 4 November, the token’s market cap was US$4.6bn and it was ranked as #42 on Coinmarketcap.com.
How is the Decentraland community secured?
MANA relies on the Ethereum blockchain which is secured by a big decentralised community of miners which work along with 1000’s of nodes to make sure the blockchain, and therefore the MANA tokens is protected towards assaults.
Ethereum is the preferred community for crypto tokens that wouldn’t have their very own blockchain.
The place can you purchase Decentraland?
Main crypto exchanges facilitate buying and selling in Decentraland tokens – together with Coinbase Binance, Mandala Change, OKEx, CoinTiger, and FTX.
MANA might be traded towards Bitcoin, Tether, and ETH, in addition to being bought with many fiat-currencies together with USD.