There are there native currency- LAND, MANA and Estate. Basically Decentraland is a virtual reality platform powered by Ethereum in which users can build, mold, and monetize the environment while playing the game.
MANA is the native currency and Decentraland users can buy real estate and virtual assets. It is also used in system governance. If you buy LAND, Decentraland consumes the MANA you purchase it with. MANA can’t be mined, and as soon as it’s used to buy land from Decentraland, the asset is burned.
Decentraland began as a proof of concept for allocating ownership of digital real estate to users on a blockchain in 2015 by Ariel Meilich and Estaban Ordano, and first launched in beta in 2017 with an ICO that brought in $24 million. The project continued broadening and gaining more interest as people started buying digital land in the future virtual reality that was soon to be introduced. And in February 2020.
Decentraland teams are as follows.
Esteban Ordano is the founder and CTO of Decetraland.
Ariel Meilichis a Project Lead. He has experience in venture capital and data analytics, Ariel has worked as an Analyst at Charles River Ventures.
Manuel Araoz is a Board Member.
Yemel Jardi is a Board Member. He has been a veteran blockchain developer and has worked as a Software Engineer at BitPay.
Other team members are Nicolas Earnshaw, Sam Hamilton, Dave Carr.
Decentraland has a virtual economy where users can join in a multiple of international transactions together with monetize the content and applications they build.
In Decentraland, each user has full control over the land they own and can keep all proceeds generated from services they offer to other users. There is an irreproducible ownership record. Because the Ethereum blockchain is unchangeable, all records of ownership cannot be altered by outside forces. Decentraland draws its fundamental value from its technical capability and potential. The uniqueness of the project also offers more value for Decentraland and its two tokens, LAND and MANA.
Consequently people can buy a parcel in the digital VR world which also gives value to Decentraland and the community is growing as a result. In the market the price of MANA tokens depend on demand and its maximum supply, which is fixed and limited.
The live Decentraland price is $0,710076 USD. Decentraland is down 1,86% in the last 24 hours. The currentCoinMarketCap ranking is #65, with a total addressable market of $1 200 496 106 USD.
Current supply of total addressable market is 2,195,710,466. About 70% of MANA coins are already in circulation
Decentraland supports a shared virtual world which is consists of a decentralized ledger for land ownership, a protocol for describing the content of each land parcel and a peer-to-peer network for user interactions.
Coinbase builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrencyş On April 20, 2021, Coinbase Pro will be adding support for new order books Decentraland (MANA). Currently it’s not available for active trading of Decentraland.
Gemini is let users buy, sell or securely store bitcoin, ether, and about 40 other cryptocurrencies which is created in 2015 by Cameron and Tyler Winklevoss. Decentraland (MANA) can be purchased in Gemini.
iTrustCapital is the best Crypto IRA Platform in America, helping investors access Crypto Assets within their retirement accounts. Securing more than $1 Billion Dollars for tens of thousands of clients, iTrustCapital is revolutionizing the retirement account industry. Decentraland (MANA) will be able to be purchased in iTrustCapital soon.
If you prefer Decentraland Explorer without a wallet, consequently the information will be be locally stored. In other hand you will be able to customize your Avatar and chat with others in-world. It is very easy to trade MANA because it can be exchanged for many cryptocurrencies. If you store MANA it will be very effortless and secure as well. Because it can be stored in a crypto wallet and custodian like LCX Wallet. MANA is used to buy LAND and to buy goods and services in Decentraland. LAND is just that land, i.e. land titles/parcels, those two words (land titles and parcels) are interchangeable.
1000 MANA = 1 LAND $24 -40 = 1000 MANA 1 LAND is 1 parcel which is 100m2
Decentraland’s layers are as follows.
Consensus Layer; It is for Ethereum smart contracts to track and govern proof of land ownership. You can purchase new parcels of LAND with the MANA token.
Content Distribution Layer is a decentralized storage system which is used in order to distribute content for its virtual world. The smart contract stores files with a characterization of parcel of digital land. It can retrieve these files as needed. Its function is to give the platform any relevant information it needs to render a parcel of LAND.
Real-Time Layer; Users communicate with each other through peer-to-peer connections on this layer. With no centralized server, these connections are necessary to establish social interaction. Decentraland also provides an avatar messaging voice chat which is provide a wide range of other features for its users such as an SDK.
Hardware wallets; These are the safest and most convenient options for securing your Decentraland MANA. These wallets like Ledger or Trezorare designed to store private keys securely. It can involve a bit more of a learning curve It is more expensive option as well. In spite of the fact that they may be better suited to storing larger amounts of MANA for more experienced users.