Decentraland update: MANA Live price, price chart, news and markets

The MANA price update as of now is $0.4744. In the previous 24 hours, its trading volume was $122,672,551, and its value has increased by 1.21%. As of now, MANA's live market cap is $886,290,336, and it is ranked as the #108 on the Coincu. MANA has a circulating supply of 2,193,179,327 and a maximum supply of 2,193,179,327.

Introduction to Decentraland

Decentraland is a decentralized virtual reality platform that operates on the Ethereum blockchain. It enables users to create, experience, and monetize their content and applications within the Decentraland ecosystem.

What Sets Decentraland Apart?

The Project's Objectives

Decentraland offers a unique virtual reality experience where users can own and control their virtual land. This land is represented as non-fungible tokens (NFTs) stored on the Ethereum blockchain. Users can acquire these parcels of land by using MANA, an ERC20 token. Additionally, MANA can be used to purchase various digital goods and services within the virtual world.

Virtual worlds are becoming increasingly popular for both leisure and work activities. However, Decentraland distinguishes itself by providing a 3D immersive environment that promotes community interactions and creativity. Unlike other virtual worlds and social networks, Decentraland is not controlled by a centralized organization, ensuring a decentralized and inclusive experience for all participants.

The Gameplay in Decentraland

• Decentraland LAND

Decentraland LAND represents NFTs that users can own by purchasing them. Each LAND has a unique coordinate address (x, y), and once owned, it can be held indefinitely or sold to other players.

Building within the Virtual World

By using MANA to buy LAND, players become builders who can create and customize scenes and environments. Decentraland offers a wide selection of pre-built scenes, ranging from basic designs to intricate forests and buildings. The platform's open-source technology encourages collaboration, resulting in thousands of scenes to choose from.

Decentraland Market

The Decentraland marketplace enables players to buy and sell various items, including avatars, LAND, and Estates. Users can also browse the marketplace for unique names or purchase wearable items to personalize their characters.

Potential Uses of Decentraland

• Applications

Decentraland's scripting language allows for the development of diverse applications, games, gambling systems, and dynamic 3D scenes. The language supports various functions, such as object creation, texture loading, physics handling, user interactions, sound implementation, payments, and external integrations.

• Content Curation

Decentraland fosters communities that gather around shared interests. Landowners strategically located in high-traffic areas attract users to their content, creating vibrant neighborhoods within the virtual world.

• Advertising

Brands have the opportunity to advertise in Decentraland by placing billboards near popular land parcels or within them. Neighbourhoods can transform into virtual versions of New York City's Times Square, and brands can engage with their audience through product placements and interactive experiences.

• Digital Collectibles

Creators can publish, distribute, and collect rare digital assets within Decentraland. These assets are issued on the blockchain, and users can trade them using the scripting system. A naming system ensures transparency and authenticity.

• Social

Online communities, chat groups, and multiplayer game communities can migrate to Decentraland, facilitating connection and interaction within a virtual environment. Decentraland also welcomes offline communities seeking a space to gather.

• Other Applications

Decentraland's potential extends beyond the specified use cases. The platform's versatility makes it suitable for training, professional development, education, therapy, 3D design, virtual tourism, and many other purposes.

Why Choose Decentraland?

Decentraland stands out in the online gaming space by combining virtual reality with blockchain technology. Unlike traditional games, Decentraland offers players direct control over in-game rules through its DAO (Decentralized Autonomous Organization). MANA token holders can vote on various in-game policies, influencing everything from item permissions to the treasury of the DAO.

Non-fungible tokens (NFTs) within Decentraland represent collectibles, including clothing, virtual items, and real estate (LAND). Users can own and trade these tokens on the Decentraland Marketplace, with MANA functioning as the native currency for transactions. Players can engage in a wide range of activities, games, and art within the virtual world while also having the opportunity to profit from their land ownership.

The Decentraland protocol comprises three key layers: the consensus layer, which tracks land ownership and content; the land content layer, which facilitates decentralized asset distribution; and the real-time layer, which connects users' world viewers for seamless interactions.

For more information, visit the official Decentraland page.