Lately, the average person is talking about Decentraland (MANA). Most recently, the purchase of land in Decentraland was worth RM13.4 million.
Does it make sense?
Understand first what is Decentraland (WHERE)
BACKGROUND
Introduced in 2017, by Esteban Ordano and Ariel Meilich.
Developed on the Ethereum network.
Own a virtual reality (VR) ecosystem where humans can buy land there.
Each land or item within Decentraland is represented by a non-fungible token (NFT).
It is the first virtual platform that allows its users to have full control over the entire ecosystem.
Users can play games, communicate, control, generate profits, and develop applications in Decentraland just like they do in the real world as long as the network gives permission.
NATIVE TOKEN
LAND
NFT which represents lots of land existing in Decentraland.
Users who own the land can create anything: create games, various types of applications and services such as: finance, learning, travel, professional, 3D space, or maybe a favorite collection gallery.
LAND groups are known as Districts, which house communities that share a common theme.
For example: District dedicated to crypto supporters that house crypto currency applications and services.
Users need to vote first in the decentralized voting application (dApp), Agora to generate a District.
Decentraland cryptocurrency.
Used to buy lots or LAND.
WHERE
Decentraland cryptocurrency.
Is a token based on ERC-20.
Use of MANA for LAND purchases, including paying for services and goods.
Interestingly, each time a user purchases LAND, Decentraland will burn the MANA used for that payment or purchase.
This concept makes the supply of MANA very limited.
Keep in mind, MANA is only for Decentraland and cannot be used in other virtual worlds like The Sandbox.
At the time of writing, the total supply of MANA reaches 2.19 billion and a total of 1.82 billion MANAs are in the cycle.
Interested in getting ‘land’ or any item in Decentraland?
The first thing you need to do is get MANA first on any crypto exchange like Binance, Coinbase, Huobi, and KuCoin.
Maybe you can share your experience of being a Decentraland landlord in the Facebook or Twitter comment space.
