The project was created by the Decentralized Foundation in 2015. So you can see that this game has been around for a long time. The team conducted an ICO in 2017 and managed to raise around 90,000 ETH (That was about $26 million at the time). However, the virtual reality platform only opened to the public in 2020.
Decentralized users can buy and sell properties while enjoying the gameplay and interaction. It’s like an online game. However, it focuses on the interactions Social and economically between users and not on the playing style themselves. Users communicate, attend conferences, open shops, and explore the world and new objects. Does that remind you of anything? This is Minecraft from a decentralized world !
All of Decentraland’s land is divided into 90,000 pieces called “plots”. The initial plot size was 10 x 10 meters playing area. In February 2019, the community voted. Immediately thereafter, the size of each plot was increased to 16 × 16 meters. Each packet is an ERC-721 – LAND token.
Let’s talk about tokens. There are two types of cryptocurrencies in the game: MANA and LAND.
- MANA is an ERC-20 token that enables the purchase of virtual goods and services within the metaverse.
- COUNTRY is an ERC-721 token used to indicate the right to own a specific land in the game; in other words, it is proof of ownership.
In addition to land, there are streets and squares in the world of Decentraland. Users cannot buy it as only developers can create items on it. Routes are necessary for users to navigate in the virtual world. That ” places are points of attraction for users: public parks and information areas. The closer the land is to streets and squares, the more expensive it is. The area around Central Plaza is the most expensive, as is real estate in New York’s Central Park.
The world of Decentraland has themed areas called ” districts“. For example, there are shops on Fashion Street and lecture halls at Decentraland University. Each area is owned and managed by a local community. Unfortunately, there is no longer any land available for purchase in these areas.
Let’s say you have a (lucky) country! How can you dispose of your purchase?
- resell . As the game grows in popularity, property prices increase. In this way, you become a conditional landlord who can benefit from it.
- Lease the land . You can earn passive income from the acquired land.
- place an ad . They can build any object on their land and even place advertisements. So you can hang a banner of your company or open a showroom.
- Open an NFT shop . Very trendy, isn’t it? Decentraland is NFT compliant to the ERC-721 standard. For example, digital artists can open a gallery of NFT paintings.
also read The 5 Best Cryptocurrency Exchanges You Should Know About in 2022
MANA price prediction for 2023
According to the Long Forecast source, 2023 is unlikely to be a successful year for the Decentraland cryptocurrency. While the price of an asset should start the year around $20, it should reach the $25 level in March and slowly fall to $16 in December.
The price of the digital coin promises a fairly stable income for MANA investors throughout 2023. The maximum price the asset can reach is around $10.
Trading Beasts is not as bullish as Long prognosis. We mean at all. This allows the token to start the year at $4 and drop to $3.5 in mid-2023. However, MANA can hit $6 by the end of the year, which is pretty cool.
MANA price prediction for 2024
The long-term forecast source expects the MANA coin to rise and fall in 2024. So, the price could rise to $31 by mid-summer 2024, but a correction to the $20 level at $25 could follow by the end of the year.
The Digital Coin Price website predicts stable growth. Thus, the MANA token can reach $11.
Trading Beast is not so bullish anymore. The price of the decentralized cryptocurrency may fluctuate in a corridor from $4.8 to $7 throughout 2024.
MANA price prediction for 2025
According to website Long prognosis, the cryptocurrency MANA will start the year at $20. After that, the price fluctuations will start and it could reach $17 in May, $14 in June and $23 in September. Eventually the year will show us a close of $29.
In 2025, the price of MANA could also reach $13.5, the source suggests Digital coin price. It’s not a big boost, but a stable growthhowever.