Decentraland is an Ethereum-based metaverse designed to bring people around the world together in a shared virtual environment. It was established in 2017.

On Decentraland, users are able to buy and sell digital real estate, while also browsing, interacting with others, and playing games inside the metaverse. The platform includes in-world payments, user games, and additional tools that let participants enjoy its digital content. 

Decentraland is linked to two tokens. MANA is an ERC20 token that powers the ecosystem. MANA can be used to buy LAND, which is Decentraland’s other token. LAND is a non-fungible ERC-721 token-holding LAND means you own a portion of the virtual world itself.

What are MANA key features and how does it work?

The full ecosystem is overseen by the Decentraland community. Participants can leverage Decentraland’s role as an alternative VR ecosystem and an online world for buying and selling virtual property and real estate, as well as for games. Users can communicate, manage, monetize, and build within the Decentraland metaverse to resemble everyday life in a digital setting. In simple terms, users can do what their LAND allows, as long as the network’s capabilities support it. 

Decentraland uses a multi-layer architecture. Each layer contributes to how the VR environment runs and what it can do. These layers enable users to create and host applications, games, and other interactive content.

The first layer is the consensus layer, which maintains a ledger that records LAND ownership within the platform. Next is the content layer, responsible for defining what can happen on each LAND parcel. The last layer is the real-time layer, which supports all social interactions throughout the ecosystem. Users can build avatars and communicate through voice chat and messaging within Decentraland.

What makes Decentraland noteworthy? 

Decentraland’s value is tied to its technical strengths and its potential. The project’s distinctiveness also contributes to the value of Decentraland and its two tokens, LAND (NFT) and MANA.

Decentraland stands out because it is presented as the first decentralized virtual reality system to let users interact and communicate with one another, while also providing ownership rights to virtual land within the Decentraland metaverse. As a result, Decentraland aims to deliver an experience that is lively and quick-moving. Users can develop and fully tailor the LAND parcels they purchase using MANA.

Given the platform’s structure and decentralization, users can demonstrate their LAND ownership whenever they want. They can also publish multiple apps and games, or add static displays to their parcels.

Outside of its gaming features, Decentraland also offers a marketplace and provides access to customization libraries and editors that users can use to create their own scenes in the virtual world.

Through the marketplace, participants can manage their LAND tokens. Owners can also use the marketplace to move in-game items such as wearables. 

With these builder tools, LAND owners can imagine and craft a distinctive experience across their LAND parcels.

Where can you buy MANA?

MANA can be purchased on the CEXs and DEXs listed here. The MANA price will differ based on the exchange and prevailing market conditions. 

MANA price data can be found in the charts above.