Decentraland Live Price

What is Decentraland?

The unique experience Decentraland (MANA) provides its users makes it a standout in the market. This Ethereum-based metaverse or virtual world lets participants explore, play, and interact with various games and activities within the network. It allows users to buy 'land' in which marketplaces, environments, and applications can be created.Decentraland is governed by a decentralized autonomous organization (DAO), with MANA, an ERC-20 token, as a native currency.

Like any virtual world, Decentraland has digital destinations that can be experienced through an avatar. From buying digital art to trading to learning at the network's university, these activities can be enjoyed using digital tokens. While most virtual world tokens aren't assets, Decentraland coins possess transferability and intrinsic worth.

This decentralized utopia allows users to explore the metaverse for entertainment and earn simultaneously in this Ethereum-based economy and technology. MANA is a fungible token, which means that it can be interchanged with other ERC-20 tokens.

It is an in-world currency defined by a smart contract, used as payment for purchases in the virtual world. Every transaction and property is recorded and validated in the Ethereum blockchain. The current market cap is $751.8 million, with a circulating supply of 1.58 billion MANA tokens.

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How much is Decentraland worth?

Decentraland (MANA) is worth 2.28 USD as of March 15, 2022, 2:17 am UTC time. View the interactive graph to see how much Decentraland has changed in the last hour or historically. Decentraland (MANA) is an Ethereum token that powers the Decentraland virtual reality platform. MANA can be used to pay for virtual plots of land in Decentraland as well as in-world goods and services.

Learn more about Decentraland

MANA is the cryptocurrency used on the platform Decentraland. Decentraland is a software created on the Ethereum blockchain which allows users to trade in virtual lands and real estate. Moreover, users can build on their lands, interact with each other, and even play games on these lands.

Decentraland developed to include other applications and allow payments using MANA currency in exchange for services and goods offered by Decentraland.

Decentraland works with smart contracts technology. MANA is minted by users and owned by them to be allowed to vote on new developments on the software, policy updates, and any other changes on Decentraland. Further, users who own MANA can participate in land auctions.

History the MANA Cryptocurrency

In 2015, Esteban Ordano and Ariel Meilich founded The Decentraland Foundation. This foundation was responsible for creating the platform and the cryptocurrency used on this platform. In 2017, the foundation launched an Initial Coin Offering (ICO) to raise funds for developing the platform. They sold MANA for investors who would later get their earnings after the project yields profit.

The foundation keeps 20% of initial supply of the token in addition to holding the intellectual property rights. However, the DAO which was created before launching Decentraland allows users to manage the platform over a decentralized blockchain network.