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Decentraland (MANA) — Cryptocurrency, Project Review

Decentrlaland has developed and launched a virtual reality gaming platform on the Ethereum blockchain. The application allows the creation of any program. They can be used in the game’s reality and monetized. The project has virtual land plots, called LAND, on which users build objects and live in an artificial world. 

MANA is developed to maintain the platform. This cryptocurrency is now available for exchange at a favorable rate: https://alligat0r.com/coin-pairs/mana/cake/info.

Decentrlaland’s History (MANA)

The platform was created in 2016. Before its launch, the development team held an ICO in 2017, which raised $24 million. In early 2020, the creators opened the game to users. In the 3 years since the ICO, there have been competitors (Fortnite, Axie Infinity, Cryptovoxels). However, the developers managed to bring the project to the forefront of the gaming segment. The description of the creation is made with the use of terminology.

Decentraland is the first virtual reality platform on the Ethereum blockchain. It is fully owned and operated by users because, according to the developers, they destroyed the key.

Cryptocurrency features

There are 2 digital assets created for the game:

  • LAND is a land plot with fixed dimensions (10X10 meters) that makes up the world of Decentrlaland. Technically, these are non-interchangeable tokens of the ERC-721 standard. There are 90,601 land plots in the virtual world. All LAND tokens have unique coordinates.
  • MANA — in-game money, which gives users the ability to monetize, purchase items, and land plots.

Platform users can perform any action:

  • Buy land plots;
  • To build them;
  • Develop software;
  • Go to stores, museums;
  • Having fun with friends.

Transactions are verified by the Ethereum network and registered on the blockchain. Tokens spent on land purchases are burned after the sale. Removing game currency from circulation ensures deflation.

Transaction speed

The peculiarities of the execution of transactions, the speed of transactions are entirely due to the rules of the Ethereum network. Transaction time depends on the amount of commission.

Coin issue

The Decentrlaland crypto was issued with 2.8 billion by the developers after the ICO through a pre-mining procedure. The volume of assets decreased by 600 million units — they were burned as a result of transactions. The destruction mechanism is designed to combat inflation. As of mid-2021, total offerings were 2.19 billion, of which 1.5 billion were in circulation.

Collateral

Cryptocurrency is used to fulfill the needs of the inhabitants of the virtual world. The development of the platform is done by users participating in the DAO organization.

The popularity of the Decentraland universe provides a stable demand for MANA. Tokens can be bought on exchanges, earning money through trading. The coins themselves are not backed by real assets (gold, stocks) or fiat money. Only demand influences the value of a token.

Ways to earn

You can make money with MANA by trading. Investments in cryptocurrency are acceptable. The virtual world has great potential, so the price of the game token is expected to grow. The cryptocurrency fully repeats the movement of the market for digital assets, and there is relatively little volatility. The advantage in this case is the low price.

Is it worth buying Decentraland in 2022?

The price of the currency is low. The cryptocurrency is available on the crypto aggregator — Alligat0r at a favorable rate. The prospectivity of the project makes the investment profitable. Low volatility, active participation of the development team in the promotion of the world of virtual reality, and user interest in the economic aspects of the game increase the attractiveness of the asset.

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