Decetraland (MANA) – What is, definition and concept | 2022

Decetraland (MANA) is a service offered by the Ethereum blockchain that allows the use of virtual reality to operate.

Therefore, we are facing a new way of understanding the world of cryptocurrencies by Erthereum. Its system is similar to virtual games of interaction between users

In this way, user communities are created that can grow and become increasingly complex. For example, there are world events and even markets where goods and services are exchanged using the MANA cryptocurrency as money.

Decetraland (MANA) and the virtual world

Virtuality has allowed, with the use of technology, that we can interact with people who are far away. This idea led Ariel Meilich and Esteban Ordano to found this project in 2017. Over time, they left it, remaining as advisors to Decetraland (MANA).

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The project is managed by Decentraland DAO, which also has a certain number of cryptocurrencies on deposit to promote development initiatives and operations. Thus, users who own MANA are allowed to vote on the options offered and subsidized.

Features of Decetraland (MANA)

Let’s see some of its most relevant features.

  • First of all, its innovative virtual reality system that allows users to interact more directly.
  • The system allows the community to expand due to the possibility of performing actions similar to those in real life, such as the creation of markets to exchange products with virtual money.
  • It has a black and white list of NFT or Non-Fungible Token contracts. That is, a type of contract in which we cannot exchange its content for a similar one, making them unique, like a work of art but virtual. This increases their security.
  • MANA owners control the virtual world, since they can vote on options, propose changes and, ultimately, take advantage of the decentralization that characterizes it.
  • It has a system of virtual plots that are operated in a similar way to the real estate market.
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MANA, your cryptocurrency

The virtual currency is MANA and in an ERC-20 token. In other words, we are dealing with an intelligent contract with a pre-established data structure. In this way, the work of developers and the implementation of functionalities is facilitated.

In short, we find a cryptocurrency that is used as virtual money in Decetraland (MANA). Thus, it fulfills the two premises of this, exchange and accumulation. In fact, we can buy and sell in the virtual markets created by the community.

On the other hand, like any cryptocurrency, it can accumulate until we decide whether to exchange it for goods and services in the future.

We are facing an innovative idea in a virtual world in which it seems that everything has been invented.

Interesting economic data from Decetraland (MANA)

To finish, let’s look at some interesting economic data.

  • The cryptocurrency reached its maximum price (at the time of writing the article) of the historical series in April 2021, reaching 1.19 dollars (USD).
  • One of his projects, the Tominoya Casino, had a profit of more than one million dollars (USD) at the beginning of 2021 and had to hire 20 additional people to his normal staff.
  • Atari offered, in March 2021, a license to operate one of its casinos for a period of two years.
  • In April, a parcel of LAND was sold for more than 500 thousand dollars (USD).
  • As of April 2021, it was ranked 69th in market capitalization and had a capitalization of just over 2.19 million dollars (USD).
  • Its initial coin offering (ICO’s) was one of the fastest in cryptocurrency history, lasting just 35 seconds.
  • In January 2021, Aetheria was created, with a cyberpunk theme, being the Decetraland (MANA) community with the largest number of users.
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