What is Decentraland (MANA)?
Future of MANA Cryptocurrency and know how to buy MANA

#1 – What is Decentraland (MANA)?

Decentraland: The Basics

  1. Decentraland is an open-source interactive virtual reality platform in which users can buy, use and build on virtual land, guaranteeing its users complete ownership rights as well as keeping a permanent record of the ownership on the Ethereum blockchain.
  2. It’s a platform in which you can create content and applications, as well as experience and monetize them. It is a 3D interactive world, which can be experienced using a virtual reality device or a normal browser.
  3. The land you can buy is in limited supply, with each unit having an area of 33 x 33 feet, but there is no limitation to the height of whatever you build on it.
  4. MANA is Decentraland’s very own ERC20 token that can be used to purchase the land as well as pay for other goods and services on the platform.

Decentraland Development

  1. Decentraland’s website lists a core management of 2 members and a board of 5 advisors.
  2. The tech lead, Esteban Ordano was a co-founder at Smart Contract Solutions, and the project lead, Ari Meilich was a co-founder at Benchrise and a market research analyst at CRV.
  3. The advisors include experts in blockchain and p2p networks like Luis Cuende, Aragon’s project lead, CoinFund founder Jake Brukhman and INBlockchain founder Xiaolai Li, among others.
  4. It has also established partnerships with promising projects like Aragon, district0x and imToken.

 

#2 – What are the advantages of Decentraland?

MANA Technology

  1. Decentraland operates on a public blockchain, making all virtual worlds created using the platform globally accessible. It uses the blockchain to ensure that all users have complete ownership of any land purchased on the platform. It further gives the users complete control of all the contents associated with the said land.
  1. Every plot of Land bought on the platform is represented by an inflexible digital asset maintained using an Ethereum Smart Contract, and records of the purchase are stored permanently on the Ethereum blockchain.

 

#3 – How to buy and store MANA?

How to buy MANA / How to buy Decentraland

Decentraland tokens (MANA) are available on over 20 exchanges, where you can buy the tokens in exchange for other cryptocurrencies. You can mainly buy MANA for Bitcoin, Ethereum and Tether, though other cryptocurrencies are also accepted. Top exchanges include Bittrex, Binance, Upbit, etc.

You can also buy MANA for fiat currencies, though the number of exchanges which accept it is few. In fact, only Ethfinex, HitBTC and Upbit accept fiat currencies at all, with the first two taking USD and the last accepting KRW.

  1. All the exchanges mentioned above are platforms through which you can trade MANA,but sometimes, you need help to choose which to buy from. This is where CoinSwitch, one of the largest cryptocurrency conversion platforms around, comes in. It will help you decide which to choose by displaying the prices at the various exchanges it’s sold in, all at the same place. it supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with the Decentraland token you wish to buy, and CoinSwitch will facilitate the comparison at different exchanges.
  2. What’s more - with CoinSwitch, you need not depend on wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private MANA wallet.

MANA Storage

  1. MANA is on the Ethereum blockchain, making it compatible with all of Ethereum’s vast reserve of wallets.
  2. Exodus and Mist are two of Ethereum’s popular desktop wallets, compatible with Windows, Linux and Mac operating systems.
  3. Hardware wallets like Ledger Nano S and Trezor support coins on the Ethereum blockchain, and they are usually safer to use than any others.
  4. Jaxx is a wallet compatible with Desktops (Windows, Linux as well as Mac OS), Android and iOS smartphones, as well as Chrome and Firefox web extensions.
  5. MyEtherWallet is its most popular Web wallet that functions perfectly as a Decentraland wallet. and ETHAdress is one of the paper wallets.

 

#4 – What is the future of Decentraland?

Market Cap and Global Acceptance

  1. The Decentraland coin isn’t a minable cryptocurrency as it runs on the Ethereum blockchain, unlike Bitcoin and other similar currencies. So users looking to engage in some Decentraland mining will be disappointed. Instead, it can be bought in token sales and on exchanges.
  2. The initial token supply was distributed as follows:
    1. 40% was sold to contributors during the token sale.
    2. 20% was reserved to incentivize content creators and developers within the platform.
    3. 20% went to the development team, early investors and contributors, and
    4. The remaining 20% went to the Decentraland foundation.
  3. The current circulating supply (as of June 2018) is 1.05 billion MANA, of a total supply of 2.64 billion MANA, with a market cap of about $ 97.7 million and an individual price of about $ 0.093.

Also Read: Complete Analysis of Decentraland | Live Decentraland (MANA) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jun 26, 2018

0.09815

0.09926

0.09234

0.09243

54,99,440

10,30,70,000

Jun 01, 2018

0.105

0.10593

0.0989

0.10147

43,27,400

11,02,61,000

May 01, 2018

0.1558

0.18518

0.1558

0.18518

5,81,83,500

16,36,15,000

Apr 01, 2018

0.07009

0.07218

0.06357

0.06609

58,20,820

7,35,98,600

Mar 01, 2018

0.10456

0.11607

0.10277

0.11574

87,82,940

10,98,06,000

Feb 01, 2018

0.1276

0.12784

0.09329

0.10163

1,66,14,000

13,41,13,000

Jan 01, 2018

0.10275

0.10613

0.09455

0.10012

2,66,34,900

23,36,21,000

Dec 01, 2017

0.01528

0.01626

0.01438

0.01607

5,55,175

3,47,50,500

Nov 01, 2017

0.00932

0.01027

0.00914

0.01023

5,27,477

2,12,00,300

Oct 01, 2017

0.01432

0.01762

0.01392

0.01395

2,51,323

1,64,59,600

Sep 17, 2017

0.02579

0.03023

0.0226

0.02474

6,88,849

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Trends so far

  1. The individual price of Decentraland tokens (MANA) was initially $0.025 when it was launched in September 2017, later reducing to its minimum, $ 0.00883 a month later. It then increased to its maximum of $0.25 in January 2018, and decreased again to its current value of $ 0.093 (as of June 2018).
  2. Surprisingly for a new cryptocurrency and due to the sheer volume of Decentraland tokens (MANA) in circulation, the MANA crypto has risen in global rankings fairly quickly. It’s currently among the first 100 cryptocurrencies worldwide in terms of market cap, its rank being 85 as of June 2018.
  3. The current price (as of June 2018) of a single MANA coin is very low: only $ 0.09, meaning that there’s nowhere to go but up for the currency, in terms of. It’s also promising in the sense that it embraces virtual reality and gives it to the public in a fun and complete way. It has a long way to go to compete with established VR platforms like Second Life, of course, but as blockchain is gaining trust, so will this application of it!

 

#5 – What makes Decentraland different from other cryptocurrencies?

  1. The Decentraland cryptocurrency is the only one to make virtual reality a completely decentralized platform. While other VR platforms have been around longer, they are controlled by a single entity. Decentraland is not owned by any single company and it guarantees users full control and ownership of the land they own and any proceeds generated through it.
  2. It is the world’s first VR platform to give users all the power as well as complete ownership through the blockchain technology. It’s available in a 3D interactive VR Gaming atmosphere, as well as a normal browser.
  3. No one in particular “runs” the platform; it’s decentralized, meaning there are no hidden charges, fees or commissions to be paid to any party.

 

#6 – Should you invest in Decentraland?

  1. For a cryptocurrency still in its developmental stages and launched not even a year back, Decentraland has certainly climbed the ranks quickly. If this is anything to be judged by, the cryptocurrency can only appreciate in the future.
  2. The Decentraland platform seems to be a video game waiting to happen, but it’s far more sophisticated than that. Of course, the fact that it can be experienced in 3D makes it interesting, but more than anything, it’s a way to purchase land virtually while keeping an irrefutable record of it on the blockchain.
  3. This is what makes it such a promising cryptocurrency, and one worth investing in. It’s still new and not completely developed yet, meaning that investing in it would benefit the platform. Of course, it’s also quite likely that the MANA cryptocurrency will increase further in value, making it a promising long-term investment opportunity.
  4. The individual price of the MANA token may be low, which should have a positive psychological impact on the crypto market looking for some quick gains.
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