The live price of Decentraland is - per (MANA / USD) with a current market cap of $645.05M USD. 24-hour trading volume is - USD. MANA to USD price is updated in real-time. Decentraland is -% in the last 24 hours with a circulating supply of 1.94B.
| Date Comparison | Amount Change | % Change |
|---|---|---|
| Today | - | 0% |
| 30 Days | - | 0% |
| 60 Days | - | 0% |
| 90 Days | - | 0% |
Decentraland is a virtual world built on the decentralized Ethereum network, designed to incentivize users to develop, build, and share value in its Web3 metaverse iteration. Virtual assets in Decentraland can be bought, sold, and developed as NFTs. These assets (including land and other virtual items) are represented as ERC-721 tokens and can be transferred between unique individual owners.
In 2017, Decentraland released its whitepaper outlining this process and the broader ecosystem. Development reportedly began as early as 2015, and the project opened to selected participants during its ICO in 2017. In 2020, founders Ari Meilich and Esteban Ordano officially launched Decentraland to the public.
Decentraland’s native cryptocurrency, MANA, is an ERC-20 utility token used to support the network. Following the Ethereum Merge, Decentraland now uses a Proof-of-Stake (PoS) consensus mechanism to validate transactions.
Decentraland is powered by the Ethereum blockchain. In other words, it uses Ethereum’s distributed and transparent infrastructure to drive a decentralized metaverse, where users can own and manage the virtual world and all crypto assets within it.
Additionally, Decentraland employs a multi-layer architecture to ensure security, interactivity, and composability of its virtual spaces. Specifically, the platform consists of three infrastructure layers:
Once this infrastructure is in place, users can create avatars, acquire land, and start building on their plots. Casinos, nightclubs, museums, lounges, and other buildings can be constructed on these lands.
After creating applications or scenes on the land, users control how others interact with it. For example, you may charge fees when users request access to services hosted on your property. If building isn't your forte, you can rent out your land and collect rent. In general, managing your digital land is much like managing physical property.
Decentraland provides a user-friendly Builder tool. Since coding applications from scratch can be difficult, users can build scenes and apps in Decentraland using a drag-and-drop system.
The Marketplace is another key part of the decentralized ecosystem, where users can buy or sell land, wearables, names, and other in-game assets.
Decentraland has achieved significant success with mainstream partnerships. For example, the Ministry of Foreign Affairs of Barbados announced plans to build a virtual embassy in multiple metaverse platforms, including Decentraland.
In December 2021, Stephen Curry and Under Armour partnered with Decentraland. On January 6, 2022, Samsung followed suit, announcing a digital version of its NYC flagship store in Decentraland.
On January 17, the Australian Open partnered with Decentraland to host virtual experiences of the tennis tournament. Later, JP Morgan launched a virtual lounge in Decentraland, becoming the first bank to offer services in the metaverse.
According to CoinMarketCap, MANA has a total supply of 2,193,539,027 tokens, with approximately 1.86 billion currently in circulation.
On August 18, 2017, Decentraland held a private token sale, raising $25 million in ETH. MANA tokens from the initial supply were distributed as follows:
The MANA token uses a deflationary burn mechanism to maintain scarcity and support decentralization and price stability. A 2.5% fee is taken from every MANA transaction on the Marketplace, and this fee is permanently burned, reducing total supply.
So far, over 600 million MANA tokens have been burned, and future burns are expected to further decrease the circulating supply.
Decentraland was founded by Ariel Meilich and Esteban Ordano in late 2017. Meilich is a seasoned entrepreneur who launched several startups and previously worked as an analyst at Silicon Valley venture capital firm Charles River Ventures.
Ordano has a stronger technical background, having served as a software engineer at BitPay. Before founding Decentraland, he was an advisor to the Matic project and ran his own smart contract development firm.
Though both founders eventually stepped away from active roles in the project, Decentraland’s development continues under the supervision of a decentralized foundation, true to the spirit of blockchain technology.
Over the years, Decentraland has positioned itself as a leader in the crypto space, while also gaining attention from the traditional economy. This is evident from a series of high-profile collaborations. For example, in December 2021, Decentraland partnered with NBA star Stephen Curry and fashion brand Under Armour to release Curry’s signature shoes. That same month, it also partnered with luxury marketplace UNXD to host a metaverse fashion week.
Decentraland was co-founded in 2015 by Argentine entrepreneur and computer scientist Ari Meilich and Esteban Ordano. In 2017, they led the core development team to launch Decentraland, which was officially opened to the public in 2020.
MANA is an ERC-20 token used as a currency within the decentralized metaverse. All MANA tokens are fungible and have the same value. On the other hand, each LAND token is a unique non-fungible token (NFT) based on the ERC-721 standard, and its value varies based on its attributes.
The maximum supply of MANA tokens is currently unknown. As of the time of writing, the total circulating supply is reported to be close to 1.86 billion tokens.
MANA is used to purchase virtual land in Decentraland and to pay for digital services and products such as streaming content. It is also accepted for off-chain services, goods, and events offered on the platform. Additionally, MANA can function as a tradable cryptocurrency for global transactions and payments, and it can be staked as a crypto asset (primarily on independent digital trading platforms).
Decentraland is recognized as the first fully interactive metaverse world of its kind that is globally accessible via the Web3 internet. Since late 2021, Decentraland has formed major partnerships with companies like Samsung, Adidas, Atari, and Miller Lite. Last year, it also hosted the first Metaverse Fashion Week, featuring brands such as Dolce & Gabbana, Tommy Hilfiger, Perry Ellis, and Estée Lauder.
The Decentraland to other currencies exchange rate?
