Decentraland is a cutting-edge, 3D virtual world built on the Ethereum blockchain, where users can create, explore, and trade virtual assets. It allows users to experience and shape a digital world with the power of the blockchain.
In this guide, we'll cover all the key aspects of Decentraland and its native token, $MANA, to help you understand why it’s a unique and valuable addition to the world of cryptocurrency.
What is Decentraland?
Decentraland is a browser-based platform that offers a fully immersive, open-world environment where users can create, interact with, and trade in virtual land parcels. Unlike traditional online games or virtual spaces, Decentraland is completely decentralized, giving its community the power to control and govern its future.
The virtual world is made up of LAND (virtual real estate), which users can buy, sell, and develop. Whether you want to build art galleries, host events, or develop mini-games, Decentraland provides the tools to bring your imagination to life.
Key Features of Decentraland
- Game Style: Open-world, virtual reality, simulation, metaverse, and mini-games.
- Platform for Creators: Use the Builder Tool for beginners or the advanced SDK for developers to create and share digital content.
- Marketplace: Trade LAND, estates, avatar wearables, and more. These assets are all backed by the Ethereum blockchain, ensuring ownership and security.
- DAO Governance: Decentraland is governed by a Decentralized Autonomous Organization (DAO), allowing users to vote on key decisions affecting the platform’s development.
MANA Token: The Heart of Decentraland
The native token of Decentraland, $MANA, serves as the primary currency for transactions within the platform. You can use $MANA to purchase LAND, avatar wearables, and other virtual assets. Additionally, $MANA is used for staking and voting within the DAO to help shape the future of the Decentraland world.
$MANA Use Cases:
- In-Game Transactions: Buy and sell virtual land and assets within the Decentraland Marketplace.
- Governance: Participate in Decentraland’s DAO by staking $MANA tokens to vote on proposals for game updates and improvements.
- Staking: Users can stake $MANA to earn rewards, and when wrapped, it can be used for governance purposes.
MANA Tokenomics
- Circulating Supply: 1,815,795,180 $MANA tokens
- Max Supply: 2,193,441,827 $MANA tokens
- Blockchain: Ethereum (ERC-20)
- Consensus Mechanism: Decentralized Storage System
- DAO Governance Token: $MANA
- Token Burning: Each time $MANA is used to claim LAND, a portion of the tokens are burned, reducing supply over time.
Who is Behind Decentraland?
Decentraland was developed by a talented team of visionaries and supported by major investors, including Animoca Brands, Boost VC, and Fundamental Labs. Notable advisors and partners include figures like Jake Brukhman from CoinFund and Luis Cuende from Aragon.
The platform has raised a total of $25 million in funding through four rounds, helping to secure its position as a leading virtual world project.
Fun Facts About Decentraland
- Major global brands like Adidas, PricewaterhouseCoopers (PwC), and even rapper Snoop Dogg own LAND in Decentraland.
- The most expensive virtual LAND ever sold was for $450,000, purchased to be neighbors with Snoop Dogg!
How to Buy and Sell MANA
You can easily buy and sell MANA tokens on popular platforms like Coins.ph or CoinsPro. These platforms provide a secure, licensed environment for trading cryptocurrencies, regulated by the Bangko Sentral ng Pilipinas (BSP) in the Philippines.
Start your trading journey today with Coins.ph and take advantage of their low transaction fees and convenient features.
Where to Buy MANA?
- Coins.ph – Buy MANA on these licensed exchanges, secure and regulated in the Philippines.
- Supported by Ethereum: As an ERC-20 token, $MANA can be easily stored in Ethereum-compatible wallets like MetaMask.
How to Stake MANA and Earn Rewards
Staking $MANA tokens is an excellent way to earn passive income while participating in Decentraland’s governance. When you wrap your MANA, you lock it into the DAO, which gives you voting rights on key decisions. The longer you stake, the more influence you have on the platform’s future.
Start Your Decentraland Journey Today
If you’re ready to dive into the metaverse and explore everything Decentraland has to offer, sign up for a Coins.ph account and start trading $MANA today!
With your first purchase, you can unlock exciting rewards like a P50 BTC bonus when you complete Level 2 verification.
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