Decentraland is Ethereum-based metaverse with the aim of encouraging users across the globe to operate a shared virtual world. It was founded in 2017.

Decentraland users can buy and sell digital real estate, while exploring, interacting and playing games within this virtual world. The platform features in-world payments, games for users, and other functions for users to enjoy its virtual content. 

Decentraland has two coins associated with it. MANA is an ERC20 token that powers the platform. MANA can be used to purchase LAND, Decentraland’s other token. LAND is a non-fungible ERC-721 token, owning LAND represents ownership of part of the virtual world itself.

What are MANA key features and how does it work?

The entire ecosystem is governed by the Decentraland community. Users can capitalize on Decentraland’s function as an alternative VR ecosystem and world to buy and sell virtual property and real estate and play games. Users can communicate, control, monetize and develop the Decentraland metaverse to mimic reality in a digital environment. In essence, users can use their land for anything, as long as the network’s features allow it. 

Decentraland has a multi-layered architecture. Each layer has a role in supporting the operations and functions of the VR ecosystem. where users can create and host applications, games, and interactive content.

The first layer is the consensus layer. Here a ledger is kept which records land ownership on the platform. The content layer is next. This layer controls what goes on in each piece of land. The final layer is the real-time layer. This layer facilitates all social interactions within the ecosystem. Users can create avatars, communicate via voice chat and messaging on Decentraland.

What makes Decentraland noteworthy? 

Decentraland value comes from its technical capability and potential. The project’s uniqueness adds more value for Decentraland and its two tokens, LAND (NFT) and MANA.

Decentraland is unique as it is the first decentralized virtual reality system that enables interaction and communication between users and grants ownership over the virtual land in the Decentraland metaverse. As such, Decentraland offers a unique user experience that is dynamic and fast-paced. Users can autonomously develop and fully customize their LAND parcels bought with MANA.

Due to the nature of the platform and its inherent decentralization, users can prove their ownership over LAND at any time. They can also upload numerous apps and games, or add static displays to their parcels.

Beyond Decentraland’s gaming environment, the platform offers a marketplace and access to customization libraries and editors which users can use to build their own scenes in the virtual world.

The marketplace allows participants to manage their LAND tokens. Owners can also use the marketplace to transfer in-game items such as wearables. 

These builder tools mean that land owners can envision and create a unique experience within their LAND parcels.

Where can you buy MANA?

MANA can be bought on any of the CEXs and DEXs as listed here. The price of MANA will vary depending on the exchange and market conditions. 

MANA price data can be viewed in the charts above.