What is Decentraland?
Decentraland is a decentralized virtual reality platform built on Ethereum where users can create, experience, and monetize content and applications. It was one of the first metaverse projects in crypto.
Users can purchase virtual land (LAND) as NFTs and build interactive experiences, games, art galleries, and social spaces. Major brands including Samsung, Atari, and Sotheby's have built virtual spaces in Decentraland.
MANA is the ERC-20 token used to purchase LAND, wearables, and other in-world items. MANA is burned when purchasing LAND, creating deflationary pressure.
MANA Tokenomics
MANA has a capped supply of approximately 2.19 billion tokens. When users purchase LAND, the MANA spent is burned, permanently reducing supply. This creates a deflationary mechanism tied to land demand.
MANA Historical Price Performance
MANA surged to $5.90 in November 2021 during the metaverse hype triggered by Facebook's rebrand to Meta. The token had risen from its 2017 ICO price of $0.024, delivering massive returns to early investors.
Frequently Asked Questions
Users can explore virtual worlds, attend events, play games, visit art galleries, shop for wearables, and socialize. You can also create and monetize your own experiences on owned LAND.
LAND is a non-fungible digital asset (NFT) representing virtual real estate in Decentraland. There are 90,601 parcels of LAND, each 16m x 16m in the virtual world.
MANA tokens are permanently burned when used to purchase LAND and other in-world assets. This burning mechanism reduces the total supply over time, creating scarcity.
Yes, anyone can explore Decentraland for free through a web browser. You only need MANA if you want to purchase LAND, wearables, or other digital assets.
What can you do in Decentraland?
Users can explore virtual worlds, attend events, play games, visit art galleries, shop for wearables, and socialize. You can also create and monetize your own experiences on owned LAND.
What is LAND in Decentraland?
LAND is a non-fungible digital asset (NFT) representing virtual real estate in Decentraland. There are 90,601 parcels of LAND, each 16m x 16m in the virtual world.
How is MANA burned?
MANA tokens are permanently burned when used to purchase LAND and other in-world assets. This burning mechanism reduces the total supply over time, creating scarcity.
Is Decentraland free to use?
Yes, anyone can explore Decentraland for free through a web browser. You only need MANA if you want to purchase LAND, wearables, or other digital assets.
Risk Warning
Cryptocurrency prices are highly volatile and can change rapidly. The information on this site is provided for informational purposes only and does not constitute financial, investment, or trading advice.