Decentraland (MANA) is a virtual reality platform that is powered by the Ethereum blockchain. It is a kind of game in which players can immerse themselves to create whatever their individuality allows them to create. In this manner, it is sort of like the famous Minecraft game where players have been able to create the most amazing of sceneries. The imagination of the players can really be put in to the test through Decentraland. The 3D aspect of the game also makes it more enticing as a whole physical community would be interacting with each other.
Users can create, experience, and monetize content and applications. Land is Decentraland is permanent ownership that shall allow the users complete control over whatever their imagination allows them to create. The ownership is awarded to the users through a blockchain-based ledger of parcels. The identification of this is done through specific cartesian coordinates. Contents created can range from static 3D scenes to interactive systems such as games.
The Land in Decentraland is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract. It can be acquired through the spending of the local ERC-20 token of Decentraland. MANA can also be used to make in-world purchases of digital goods and services.
Decentralized Autonomous Operation
Another aspect worth talking about Decentraland is that it is a system based on Decentralized Autonomous Organization (DAO). This is a democratic virtual world so to speak. There is no single agent with the power to modify the rules of the software, contents of land, the economics of the currency, or prevent others from accessing the world.
The purpose behind creating this platform is to construct a platform through which a metaverse can be constructed. They believe that users should have full value for the efforts they put into the creativity in creating content.
Price Movement – Decentraland (MANA)
At the time of writing this article, the current value of MANA is $4.08 with a trading volume of $5,268,958,510. Even though the value of Bitcoin is falling, MANA is really holding itself up. This might be due to the opening of the eyes of investors towards the metaverse by the rebranding of Facebook as Meta and the subsequent reassuring action taken by Microsoft to aim for the metaverse as well. The monthly low of MANA has been $0.7208 and the monthly high has been $4.69. This is quite the increase. All indicators show good prospects for the coin.
Source: Stocks Telegraph
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