Decentraland Price (MANA)

Decentraland is a virtual world metaverse built on the blockchain. It aims to create a decentralized and immersive virtual reality platform where users can create, explore, and monetize content and experiences.

Decentraland is built on the Ethereum blockchain and uses non-fungible tokens (NFTs) to represent virtual land and in-game digital assets. Users can buy, sell, and trade virtual land parcels, which are called LAND. Each LAND parcel (virtual plots of land) is a unique, non-fungible digital asset with specific coordinates within the virtual world.

Decentraland allows users to create and develop their virtual experiences using a visual scripting language. These experiences can range from games and artwork to virtual shops and social spaces. Users can also interact with each other through avatars, chat, and participate in various activities, games, and events.

The virtual world of Decentraland is governed by a decentralized autonomous organization (DAO), where token holders can participate in the decision-making process via decentralized governance. This ensures that both the development and direction of the platform are determined by its community.

MANA is the native cryptocurrency of Decentraland. It is used for various purposes within the virtual reality platform, including engaging in LAND auctions, purchasing in-game assets, and participating in the platform's economy. MANA can also be traded on crypto exchanges.

Decentraland price history

2017

The price of MANA started out at $0.02 per token. It was relatively stable throughout the year and saw a sudden spike in the second half, ending 2017 at about $0.10 per MANA token. This surge was likely due to the crypto bull market at the time.

2018

The price of MANA continued to decline in 2018 before briefly peaking at around $0.25 in January (due to the launch of the Decentraland marketplace) and reaching a low of $0.04 in December. The main reason for the price decline was the crypto bear market at the time.

2019

The MANA price was hovering between $0.04 and $0.05 in the first half of the year. However, the price fell steadily in the second half of 2019 and ended the year at $0.03 per token. The main reason for the price decline was the lack of major developments in the Decentraland project.

2020

The price of MANA started to recover again in 2020 and was steadily increasing until August. Then, the momentum picked up greatly, and the price shot to over $0.10. The main reason for the price recovery was the growing interest in the metaverse.

2021

The MANA price skyrocketed in 2021 and reached its highest price of all time at $5.90 in late November. The main reason for the price surge was the continued interest in the metaverse and the launch of several major projects in Decentraland, such as the Fashion Week and the Sotheby's Metaverse Auction.

2022

The price of MANA decreased steadily in 2022 and ended the year at around $0.30 per MANA, a reflection of the latest crypto bear market.

2023

MANA had a hot start to its year, increasing from $0.30 to $0.80 by the end of January. Since then, its price has steadily declined, falling back below $0.30 by August.

How does Decentraland work? 

Decentraland is a metaverse virtual reality platform powered by several key features:

Virtual land

The virtual world of Decentraland is divided into parcels of virtual land called LAND. Each LAND parcel is represented by a non-fungible token (NFT) on the Ethereum blockchain.

MANA token holders can buy, sell, and trade LAND parcels through the Decentraland marketplace or LAND auctions. LAND owners have complete ownership and control over the content and experiences on their plots of land in the Decentraland world.

Creation and development

The Decentraland Builder is a web-based tool that allows Decentraland users to create and develop their own virtual experiences.

LAND holders can design and customize their LAND parcels, create 3D scenes, import assets, and script interactive behaviors using Decentraland's scripting language called the Decentraland SDK.

Virtual reality

Once the virtual experiences are created, users can explore the virtual world of Decentraland using a VR headset or through a web browser in 2D mode.

They can move their avatars through different LAND parcels, interact with objects and other users, participate in events, play games, visit virtual shops, attend concerts, and engage in other virtual activities.

Economy and marketplace

Decentraland has an economy based on its native cryptocurrency called MANA. Users can earn MANA by creating and selling virtual assets, hosting events, offering services, or through other interactions within the digital platform.

MANA can also be used to purchase virtual land ownership, in-game assets, and participate in the platform's economy. Users can trade MANA on supported cryptocurrency exchanges.

Decentralized governance

The governance of Decentraland is driven by a decentralized autonomous organization (DAO).

MANA token holders can participate in the decision-making process by voting on proposals related to platform improvements, policies, and development initiatives. This ensures that the community has a say in shaping the future of Decentraland.

Who are the founders of Decentraland?

Decentraland was founded by two individuals: Ari Meilich and Esteban Ordano.

Ari Meilich is an entrepreneur and software engineer, and one of the co-founders of Decentraland. He played a significant role in shaping the vision and direction of the platform. Meilich has experience in blockchain technology and has been involved in several ventures in the cryptocurrency space.

Esteban Ordano is a computer scientist and software engineer who co-founded Decentraland alongside Meilich. Ordano has a background in developing blockchain-based solutions and has been involved in various projects within the blockchain and cryptocurrency industry.

What is Decentraland used for?

Decentraland serves multiple purposes, offering unique opportunities and benefits to its users. One prominent aspect is the concept of "play to earn," which allows players to earn real-world value and potentially generate a positive return on their time and investment within the platform.

In traditional games, players typically invest time and effort into gameplay, but their virtual achievements and assets hold no real-world value.

Decentraland changes this paradigm by enabling players to create, trade, and monetize digital assets, providing a pathway to earn real-world rewards. Through the platform's economy and the use of its native token MANA, users can generate income by selling virtual land, in-game assets, or offering services within the virtual world.

This play-to-earn model opens up new opportunities for gamers who can now turn their passion and skills into a potential source of income. By participating in activities such as creating and selling virtual goods, hosting events, or engaging in in-game commerce, players can earn MANA, which can be exchanged for other cryptocurrencies or even fiat currencies, providing tangible value and possible returns on their time and efforts.

What makes Decentraland unique?

Unlike traditional virtual worlds, Decentraland is built on the blockchain, making ownership and control of virtual land and assets truly decentralized. Users have full ownership rights over their virtual assets, ensuring they retain control and can freely trade or monetize their creations.

The game also offers a fully immersive and interconnected virtual reality experience. Users can explore the vast virtual world, interact with other users, participate in events, play games, visit virtual shops, and engage in more activities.

The integration of virtual reality enhances the sense of presence and immersion, providing a more engaging and interactive experience compared to traditional 2D online platforms.

How can I mine or stake Decentraland?

MANA is an ERC-20 token that operates on the Ethereum blockchain.

Rather than through mining, MANA can be acquired through various methods, such as participating in the Decentraland ecosystem. MoonPay offers a full on-ramp to purchase MANA directly with a credit card.

As for staking, there is no built-in staking mechanism for MANA by the Decentraland protocol. However, there are some cryptocurrency exchanges and platforms that offer rewards in exchange for locking up your MANA tokens for a specific period.