No, you’re not dreaming, with Decentraland, you can create a new life in a completely virtual world! Cryptocurrencies are definitely surprising and the possibilities they offer are endless. If some of them invest in the field of ecology, others are based on more surprising projects, but just as technologically advanced. Decentraland has created its virtual world on the basis of an online game. And as in every world, there is a currency. For Decentraland, it is the MANA token, based on Ethereum. This token allows you to invest in your new life on the Internet, and to buy virtual land for example.
It may sound crazy, even strange, but this type of initiative is not new. However, Decentraland remains one of the most recognized projects to date. It is even supported by big names in the cryptosphere like Binance. Don’t be fooled, if this world is virtual, its success is real!
Discover in a few minutes the main aspects of this astonishing and attractive project.
[bctt tweet=”Dreaming of a virtual life? That’s the promise of #Decentraland with its #crypto #MANA!” username=”coinaute”]
Presentation of Decentraland (MANA) in some key figures
Graph of MANA’s price in dollars
Source : CoinMarketCap
The current price of MANA
At the end of May 2021, the price of Mana is about 0.8 dollar. It is really since the beginning of this year that the token has started an upward trend. At the beginning of January, its price was just over $0.08. Its highest peak was in early May, with a price of about $1.57. See the price of other cryptocurrencies.
History of the MANA course
Since the token’s creation in 2017, the MANA course has evolved well. Here is a year-by-year analysis of the token’s price.
2017: In September, when CoinMarketCap began estimating its price, the token was worth just over $0.02. The value of the token increases by the end of the year, reaching the $0.1.
2018: The highest value of the year is reached as early as January, with a price around $0.20. The price of the token will continue to fluctuate throughout the year and finally stabilize at the end of the year at around $0.05.
2019: The price of MANA will change very little that year. Its value will remain in a price range between $0.02 and $0.05.
2020: After starting the year at a price of $0.03, the token ended the year at a value of nearly $0.08.
MANA has thus seen a nice evolution, especially from the end of 2020, a period that seems to profile a nice progress for the value of the token.
The listing of MANA on the stock exchange
Currently, the price of Mana is around 0.8 dollar, with an upward price trend over the last 24 hours (+ 0.04 dollar approx.). Decentraland is 69th in CoinMarketCap’s ranking of the most valuable cryptos, with a 24-hour trading volume of 130,472,421 dollars. The same website estimates a market capitalization of 1,165,026,622 dollars for Decentraland. Learn more about CoinMarketCap.
What factors cause the value of MANA to fluctuate?
Several factors can explain the changes in the value of cryptos. Indeed, they do not depend on central banks and governments. Other aspects therefore influence their price. Some affect all virtual currencies, while others are much more specific.
Media influence and reputation
The media has a real power in terms of reputation, whether it is a crypto-currency or many other subjects. Thus a good or bad news about a token will inevitably have an influence on its price and its evolution. It is therefore advisable to pay attention to its reputation in order not to discourage potential investors.
Regulations and laws in place
Laws depend on each country and government. However, these can have a real impact on cryptocurrency initiatives, as they are not directly controlled by a government or a central bank. Thus, new policies could affect cryptocurrencies, directly or indirectly. Decentraland must therefore pay particular attention to these laws and adapt to them if necessary.
The global economic situation
A stable economic and financial situation seems essential to attract new investors. This is true for both “real” assets and virtual currencies. A healthy and stable environment is therefore essential.
The law of supply and demand
This dynamic of scarcity influences all crypto-currencies whatever they are. In concrete terms, the more the MANA is in demand, the more the value of the token will increase, and vice versa.
Other factors may also come into play, but do not directly concern Decentraland. This is for example the case of the reward when mining, since, as we will see, MANA cannot be mined.
MANA forecasts and future
Several platforms offer estimates for the future price of the MANA token. We have selected those which we believe are the most relevant and reliable. Keep in mind that these are only estimates, which certainly help guide you in your investment, but are in no way to be taken seriously. Only the future will be able to confirm or deny these perspectives.
MANA’s share price forecast for 2021
The well-known site Wallet Investor believes that over a year, investing in MANA is a good thing. For 2021, the platform predicts an increase in the price of the token, exceeding the value of 1 dollar. Similarly, the potential gain on a one-year investment would exceed 70%. MANA is therefore a token to be favored to diversify your portfolio.
Not to be outdone, TradingBeasts is also offering its expertise to study the future of Decentraland. For the current year, the analysis of TradingBeasts joins the one of Wallet Investor. Indeed, for this site too, the value of the token will increase and reach the 1 dollar mark.
MANA’s long-term price forecast
In the longer term, the forecast remains very positive according to Wallet Investor. Betting on this token could guarantee you a good return on investment. For example, by the end of 2022, the price of the token will reach 2 dollars, if we believe these calculations and forecasts. A rather regular evolution is foreseen for the token, since it would seem that its price would increase by 1 dollar per year until 2025, an interesting performance.
However, TradingBeasts’ analysis is less cheerful than that of Wallet Investor. Thus, TradingBeasts instead promises a drop in the price of the token for 2022, a trend that should however be reversed in the following years, without exceeding 2 dollars. For example, by the end of 2023, the value of a MANA could reach 1.3 dollars.
MANA’s plans for the future
Regardless of these forecasts outside the team, Decentraland has several projects to continue its momentum and success. With more and more developments in its world and new partners, Decentraland may continue to surprise us in the future!
All about MANA
Project Origins
The project was launched in 2017 after a successful fundraising campaign of over $20 million. This was raised via an ICO (Initial Coin Offering), a system that collects Bitcoin and Ethereum tokens for an initiative. It should be noted that ICO is a commonly used method in the crypto world to launch a project.
The team is composed of several well-known people in the field:
- Esteban Ordano an engineer who has really contributed to the development of blockchains, especially at Bitcoin with the development of BitPay software or Bitcore, a major infrastructure library at Bitcoin.
- Ariel Meilich is another person at the head of the project and has great expertise in the field of technology and venture capital funds.
- Manuel Araoz, another well-known person among virtual currency enthusiasts. Among other things, he created Proof Of Existence, a non-financial application based on blockchain technology.
- Yemel Jardi, former engineer at Bitcoin and experienced developer in the blockchain sector.
Main features of the network
A decentralized platform
This is the heart of the project: to propose a decentralized and open-source technology that would be accessible to the greatest number of people. It is thus one of the first platforms to be totally owned by its users.
A blockchain based on Ethereum
Decentraland has based its token on Ethereum, ranked 2nd cryptocurrency in the world. It is indeed an ERC-20 token, using the famous Smart Contracts of Ethereum. The latter offer the possibility of carrying out transactions independent of third parties, i.e. not controlled by third parties.
Register on Decentraland
Registration and access to the virtual world is quite easy. We explain the procedure step by step:
- Go to the site de Decentraland. First of all, you have to go to the offical website of Decentraland.
- Home page. On the Decentraland homepage, click on “GET STARTED”
- Log in. You then have the choice of playing as a guest, or clicking on “Play” to log in. If you choose the latter option, you will need to log in or create an account with Metamask or Fortmatic to continue.
- Play. Then you can start playing. As a bonus, you’ll get a short tutorial to teach you how to get around the virtual world.
The Decentraland community
Like any self-respecting gamer community, Decentraland offers its users a Discord server. It is through this same application that you can ask for help if you encounter any problem. In addition to that, the team is also present on Twitter, among others, to share the latest news on the platform.
MANA, the token of Decentraland
Source : CoinMarketCap
MANA is the native token of Decentraland. It is what we call an ERC-20 token. Very concretely, this means that it is based on Ethereum. In reality, ERC stands for Ethereum Request for Comments. As for the 20, it corresponds to the number associated with the proposal when the concept was born. Thus, any type of actor can create its own token on Ethereum.
What are LANDs?
LANDs are a specific feature of Decentraland. In the game, they are actually spaces you can interact with. They are non-fungible tokens (NFT). Once you have exchanged your MANAs for LANDs, you can do whatever you want with them: create applications, games… However, you should know that the number of LANDs available is limited. Finally, Decentraland recently launched LAND Estate, a service that simplifies the management of these virtual plots of land.
How to store your MANA token?
We advise you to store your tokens in an appropriate wallet. The most suitable type for MANA would be a hardware wallet, because it is the most secure tool. This is a wallet type that we can only recommend for any type of crypto. You can therefore keep your tokens in wallets such as Trezo or Ledger Nano S, which are particularly well armed against malware.
Pros and cons of investing in the project
Before getting involved, take the time to evaluate the different aspects of Decentraland and MANA, its default asset
The pros of investing in Decentraland
- An original platform, which is more successful than its predecessors
- An initiative with quality partners, who inspire professionalism and expertise
- Growing sectors: the world of gaming (video games) and virtual reality are constantly growing
- A diversity of means of action on the platform
- An active community with many projects
- A token that has great prospects of evolution
The cons of investing in Decentraland
- This field is popular with many players. Decentraland must succeed in truly differentiating itself from its competitors.
- While the team at the head of the project has great expertise in blockchains and the world of cryptocurrency, this is not the case for the world of video games. This lack of experience could backfire.
- If the gaming and virtual reality sectors are not ones that speak to you, you should look to other initiatives that are more like you
- Depending too much on another crypto, in this case Ethereum, is not always an advantage
How does MANA work?
MANA is similar to a virtual game such as Minecraft or Fallout. It is an immersive three-dimensional universe. By purchasing LANDs, you can contribute to the evolution of the world, named Genesis City. MANA works mainly on a decentralized system based on Ethereum as explained above. Furthermore, MANA token holders are granted voting rights, in order to moderate the content or take part in decisions related to the token itself.
What is MANA used for?
Decentraland can be used in many different ways, from the most classic to the most original. Different possibilities are offered here. Here are the main uses that can be made of this virtual world:
- Use the network for advertising. Companies can indeed pay users to broadcast virtual ads in this fictional world. These ads can be done through a particular experience on the game, or more traditionally on buildings, as it is also the case in real life (IRL for the gamers among you).
- Create applications. Attention all developers who read me! On Decentraland, you can create your own applications.
- Join a community. Through events and meetings, you can meet new people, as passionate about cryptocurrencies as you are.
- Almost infinite possibilities! Everything is to be built on this virtual world, and it is the case to say it. Many projects can be developed and little censorship is applied. So, here’s to your creativity!
MANA’s partnerships
Decentraland has had the opportunity to collaborate with several big names in the cryptosphere. We introduce you to five major ones.
Partnership with CoinGecko
In 2018, Decentraland signed a collaboration with one of CoinMarketCap’s biggest competitors. Just like its opponent, CoinGecko provides information on crypto prices, rankings, trading volume and much more. Decentraland even organized a contest for the occasion. The prize is 10,000 MANAs. Plenty to enjoy in the virtual world. As part of the partnership, CoinGecko has added MANA to its list of cryptos. In exchange, Decentraland is offering to help CoinGecko set up its own virtual space on the platform.
Partnership with Binance
It was a choice collaboration that was made possible in 2018. Binance, the global platform that offers the ability to buy over 100 cryptocurrencies has partnered with Decentralan in this way. The goal was simple: to integrate BNB, Binance’s token on the virtual world and facilitate access to TrustWallet from Decentraland. This collaboration is a real boon for the virtual world.
Partnership with HTC
In 2019, the collaboration was publicly announced. With the aim of making it possible to buy LANDs on the Exodus 1, a cell phone from HTC, Decentraland paves the way for such breakthroughs on smartphones. Indeed, Exodus 1 introduces the blockchain on phones and contributes to the development of the use of cryptos on mobile.
Partnership with Samsung
In 2020, Samsung and Decentraland announced their partnership. With the desire to always improve in blockchain technology, Samsung now offers smartphones equipped with wallets for cryptos (Samsung Blockchain Wallet) for example. This is another successful collaboration and has been able to attract new MANA investors due to Samsung’s popularity.
Partnership with Matic
Decentraland has also signed a contract with Matic in order to develop mini-games within the virtual ecosystem itself. Matic is also a company that works alongside Ethereum, one of the highest ranked cryptocurrencies in the world.
How to get MANA in 2021?
The MANA token is available on several cryptoasset sales platforms, such as Binance OKEx or even Kraken. We offer you an explanation on one of its partners, the site Binance for example. The approach will be much the same on other crypto exchange platforms.
Step 1: Login to your Binance account, or register if you are new to the platform. In the latter case, you will need to verify your account via a link in an email you will receive
Step 2: Deposit money on the platform
Step 3: Go to the “Market” section and search for BTC/MANA (or even MANA/USDT). This choice will depend on how much money you have in your account.
Step 4: You can buy as many MANA tokens as you want/can.
Can we mine MANA?
What is mining?
Mining allows you to validate transactions that have taken place on a platform. It is a system that is widely used by most blockchains, including Bitcoin and Ethereum. For the activity of mining, complex equations must be solved. Mining therefore requires very powerful computers, capable of solving them. In general, to improve the performance of a platform and make the validation of operations more fluid, miners are offered a reward for their work. This approach attracts more and more people, which certainly accelerates the processes, but also pollutes more, as powerful computers consume a lot of energy during production and use.
What about MANA?
Unlike many cryptocurrencies, the MANA asset cannot be mined. In this way, it may seem more environmentally friendly than another crypto that uses mining activity.
Why and how to use Mana tokens?
Why use MANA tokens?
With your MANAs, you can buy LANDs. The latter corresponds to the title of property on Decentraland. It is also a non-fungible asset (NFT). In fact, by destroying (or burning) 1,000 MANA tokens, 1 LAND is created (whose coordinates you can specify on this virtual world). However, over time, the concept has evolved and it will now cost between 10,000 and 100,000 MANAs to buy 1 LAND. Learn more about non-fungible tokens (NFT).
How do I use MANA tokens?
As mentioned above, you can spend your MANAs to build LANDs in the virtual world. This is one of the main uses you can make of them. To do so, you just have to launch the game on the official Decentraland website. More traditionally, you can also exchange MANAs for other crypto-currencies.
Our opinion on MANA: is it too late to invest?
Be glad you didn’t miss the boat! MANA is likely to increase in value now and in the years to come, according to most estimates.
Other projects of this type had already been created before Decentraland. It is the case of Second Life for example. These two platforms are still quite different:
- Second Life is not based on a blockchain, nor on a cryptocurrency
- MANA is decentralized, which is not the case with Second Life
- Second Life can not be programmed directly by users unlike Decentraland
However, this initiative had not met with the great success that Decentraland has. Indeed, this is an initiative carried by crypto experts. References like Binance, Samsung or CoinGecko have confidence in this project and have even collaborated with Decentraland. We can therefore think that we are talking about a successful project.
Nevertheless, all aspects of this virtual world and its token must be taken into consideration. Some less reassuring points can indeed be noted. For example, the price of MANA can vary considerably from month to month. But this is the case for all other crypto-currencies, you may say, and this is not wrong. Also, the team is not an expert in the video game and virtual reality fields.
The overall services of Decentraland and MANA are still up to the requirements of most investors in our opinion. But you have the final word!
