Decentraland

MANA
  • decentraland
  • Decentraland
    (MANA)
  • Price
    $0.348
  • Market Cap
    $647.57 M

Decentraland is an actual Ethereum- based utopia in the decentralized Industry. If you are a true gamer or want to live in a virtual world, you are welcome to use Decentraland or MANA. You can build anything from homes, art galleries, and theme parks in 3D virtual reality on this platform. It’s a game that allows you to buy and sell digital real estate and interact within the virtual world. If you have played Second Life and Minecraft, you are familiar with the game. But there is a big difference between MANA and those games. The virtual world you will play in is not controlled by any centralized organization or company.

In MANA, users shape the rules of the world they inhabit. Stay tuned to learn everything about this Ethereum-powered virtual reality platform.

What Is Decentraland?

Esteban Ordano and Ariel Meilich created the organization behind the development of this software in 2015. Decentraland became available to the public in 2020. It is a virtual reality world based on Ethereum. You can buy real estate such as homes, casinos, concert halls, art galleries, and theme parks in this beautiful platform. Other players can visit your properties on this virtual land; you can interact with them or build an entire village with them. They are two types of governance tokens on this platform.

LAND

LAND is a non-fungible token, or NFT, that determines the ownership of land parcels. Users build different structures on these non-fungible digital assets.

MANA

You need MANA to buy LAND and Clots, plots, goods, and services in Decentraland.

In the beginning, all plots had a minimum bid amount of 1000 MANA. Users can use MANA to purchase in-game items.

A MANA holder can use his tokens to buy, for example, customs for his avatars or to buy the right to vote on future developments in the platform. Each MANA token represents a single vote.

How Does Decentraland Work?

Decentraland is an all-immersive virtual universe. It means players play in a three-dimensional world. Esteban Ordano and Ariel Meilich created this virtual to track real estate parcels defined by LAND tokens. How how does Decentraland do that?

Decentraland uses from the Ethereum blockchain. Users are supposed to hold their MANA tokens within an Ethereum compatible wallet to interact with the ecosystem. Developers can innovate within the Decentraland platforms and design their virtual real estate interactions.

Any changes to the Decentraland platform or interaction will be stored on a series of blockchain-based smart contracts. Now it’s time to understand the components of the whole platform better.

The consensus layer

This ledger tracks the ownership of LAND parcels for every parcel of land and has a unique coordinate.

Every parcel has an owner and a description of whatever it does within the property. There are three types of files on the platform to render each parcel.

Content Files: Contains all static audio and visuals.

Script Files: Define the structure and behavior of the contained content.

Interaction Definition: Define peer-to-peer interactions, including gestures, voice chat, and messaging.

What Is LAND?

As you know, LAND is a non-fungible digital asset that you should buy in the game. After purchasing the land, you can do whatever you wish with it. The system allows you to create games, gambling services, and applications or even provide educational and tourism services.

Do you want to know how big a LAND in Decentraland is? Every plot is 33 feet by 33 feet; what do you think about it? Is it enough? Remember, there is no limit to its height. If you look at the LAND map, you will see districts. Districts are communities that revolve around the shared theme.

You can use Agora to have more control over your District. Agora is Decentraland’s voting dApp.

What Is MANA?

MANA is the governance token of Decentraland. MANA is an ERC-20 token. And you can use it to purchase LAND on the platform. Once you buy LAND, the platform burns the tokens you purchased the land with.

Where to Store MANA

As we have said earlier, MANA is an ERC-20 token. So it can be stored on any Ethereum compatible wallet. And there are so many options for you to choose from. At Bitunivex, we introduce ourselves not just as an exchange but as a wallet provider. So give us a call, and we will talk about your needs and priorities to choose the best wallet for you.

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