Decentraland is a decentralized virtual world where users can buy and build on virtual land. The project is powered by the Ethereum blockchain, providing a secure and decentralized platform for users to interact with each other and with Decentraland’s native currency, MANA.
No matter if you’re new to the cryptocurrency world, or you’re just looking for the right reasons to invest in Decentraland, the following article is for you. We’ll talk about the benefits that come out of Decentraland and we’ll share details on MANA price now and in the near future. Let’s begin!
Its Practical Use
Decentraland is a different project than all the others in the crypto world and is one of the few that have practical applications.
Community members can create apps and 3D scenes by using the platform’s scripting language. These apps will allow for richer and more meaningful interactions between community members. Members can create neighborhoods that attract other users and gradually grow organic communities.
The platform also makes money from advertising. Brands are using this opportunity to place billboards within virtual communities and buy space. Advertising is a great way to attract revenue to the community and its investors. These tokens are worth the investment.
Users may also be able to own NFTs (Non-FungibleTokens) in addition to advertising. These digital assets can be used to represent physical or real assets such as buildings, music, or art. They can be sold online by users and they make a profit from it, even if the user never touches the actual items.
High Market Capitalization
The currency that fuels Decntraland, MANA, currently has a market cap of $1.96 billion. Market capitalization refers to the total value of any cryptocurrency. The more stable a digital currency will be, the higher its market capitalization.
All cryptocurrencies can lose value and are subject to market fluctuations. A digital coin with a larger market capitalization will likely resist any negative effects. Just as a large ship is more likely than a smaller ship to weather a storm, so is a digital cryptocurrency. Its value won’t be affected the same as a smaller coin.
Total Parcels Capped in Decentraland
Decentraland’s unique system allows members of the community to purchase and own virtual LAND. These tokens are unique and cannot be used interchangeably with MANA tokens. The tokens represent virtual parcels measuring 16 by 16 meters and are represented using NFTs.
You can use MANA as a community member to buy LAND from other owners, or sell your own lands for the same. A parcel of LAND is approximately 6,900 MANA, which is roughly $5,500. Common spaces such as roads, plazas, and shops are also available, but cannot be purchased by anyone, as they are commonly owned.
MANA’s value grows with LAND’s. The total number of parcels in the community is capped at 97,100. When it comes to LANDs, the less they are purchased, the more expensive they will become.
Major Companies See the Potential
Anybody can purchase and develop LAND on Decentraland. This LAND’s value will depend on its location and how it is developed, just as in the real world. Major investors are buying large portions of LAND and creating institutions like gaming arenas that attract more members to this community.
Atari, a gaming company, is one of the many established companies that purchased a Decentraland estate. They built a casino in a district called Vegas City on Decentraland.
The internet is a more convenient way to make social connections than through physical interaction. This is why you can expect to see more people join these metaverse communities for entertainment and other activities. These activities will increase the value of MANA.
Easy Entry Point
Existing cryptocurrencies such as Ethereum and Bitcoin have high entry points, particularly for small investors. It can be difficult for those who are just starting to invest in crypto to purchase a single coin. Usually, you’ll end up buying a portion of a coin that won’t bring you much profit in the long run.
Decentraland allows you to purchase multiple units of the MANA token. The price for one MANA token was $1.06 at the time this article was written. You could purchase approximately 940 MANA tokens for $1000.
So, is Decentraland a good investment? The answer to that question depends on your specific needs and goals. If you’re looking for a quick flip or short-term gain, then Decentraland may not be the best option for you, as MANA is currently situated at around $1.
However, if you want to invest in something with long-term potential and are willing to do some research into the projects being developed on the platform, then Decentraland could definitely be worth considering.