What Is Decentraland?

In essence, Decentraland is a fully decentralised virtual world. In Decentraland users can own a piece of real estate within this virtual world. Within this virtual world, users can interact with each other, view and purchase art, create buildings and attend massive virtual events. The Decentraland world enables its users to create, explore and trade in a world that is owned by the users, rather than traditional games where everything is owned by the game’s creators. 

What is Decentraland

Land 

Each piece of land within Decentraland is divided in to ‘parcels’, parcels are 16 meters by 16 meters. Much like in the real world, some land in Decentraland is worth far more than other land; if a piece of land is centrally located in high traffic areas it is worth much more. 

Each parcel is represented by a LAND token which is based on the Ethereum network, as each LAND token is based on the Ethereum blockchain it is unique and cannot be replicated making it a non-fungible token (NFT). As Decentraland grows in popularity in the years to come it is likely that parcels of land within this virtual world will continue to grow in value, much like how real estate grows in value as demand for it increases. 

You may be asking how is Decentraland different to Minecraft? Well, all of Minecraft’s data is owned by a company and is held on server meaning that it is centralised. If something happens to the company or its servers are affected the gamer’s data could be completely lost. As Decentraland is decentralised this cannot happen, as the community own and decide on everything that happens. 

MANA 

Mana is the native cryptocurrency of Decentraland network, this currency is primarily used for the purchase of land, goods and services within the virtual Decentraland universe. 

MANA Key Statistics 

Each MANA is currently priced at $0.70 (16th June 2021), there is a circulating supply of 1,580,000,000 and the total market capitalisation of MANA is $1,109,710,277. 

At its all- time high price each MANA was worth $1.63! 

What is Decentraland

Where Can You Buy Decentraland (MANA)? 

Decentraland (MANA) has grown in popularity since it’s launch and because of this it is available to buy and trade on the following major exchanges: 

 

If this review of What is Decentraland has peaked your interested and you are looking to purchase MANA, have a look at our Best Crypto Exchanges page, for reviews on the best cryptocurrency exchanges currently available.