Decentraland - Intro to the metaverse.

Decentraland (MANA)

What is Decentraland? 

Decentraland is a metaverse world built on the Ethereum blockchain. It allows people from all over the globe to participate in an online world where they can build unique properties, meet other people, and interact with the digital properties/games/events that users create. Players can use the MANA token to buy plots of land (LAND token) or they can use MANA to pay for goods and services within the ecosystem. Landowners can build different environments where other users can participate or play. For example, landowners are building sports arenas, casinos, NFT shops and more… it’s all in the metaverse!

Why does Decentraland have value? 

Decentraland is one of the first metaverse environments that is gaining traction. The plots of land can host minigames, casinos, and other unique creations. Owners of the LAND can charge entry fees or use other ways to monetize their creations in the Decentraland ecosystem. Companies like Adidas, Samsung, Atari and more have purchased LAND and used the platform to host events.

What are the benefits of Decentraland?

●       The ecosystem has a first-mover advantage.

●       Landowners can host different types of events and activities which can be monetized.

●       Plots can be resold on different NFT marketplaces.

●       Decentraland is one of the first metaverse ecosystems to gain global attention.

What are the disadvantages of Decentraland?

●       Ethereum fees make it expensive to participate.

●       Gameplay can be slow and somewhat clunky.

●       Currently, Decentraland doesn’t have many monthly active users.

Decentraland’s consensus: 

Ethereum’s Proof of Work.

What are MANA’s tokenomics? 

The total supply of MANA is currently over 2.1 billion. Auctions of LAND require MANA to be burned, so the supply is reduced constantly. 40% of the initial supply was sold in the Initial Coin Offering.

Who founded Decentraland? 

Ariel Meilich and Esteban Ordano.

Who are Decentraland’s investors? 

Decentraland has conducted three funding rounds, including an Initial Coin Offering, raising over $25.5 million. The main investors are Digital Currency Group, Genesis One Capital, Animoca Brands, Boost VC, Fabric Ventures, Fundamental Labs, and George Burke.

Concise Crypto Grade:

C+

Where can I buy MANA? 

Binance, Coinbase Exchange, Huobi Global, KuCoin, Bithumb.

What ecosystem does Decentraland run on? 

Ethereum