Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum Blockchain, allowing users to create content and applications, experience them, and earn money from them. Two tokens are used in Decentraland: MANA and LAND.
What is Mana Coin?
MANA is an ERC20 token that must be burned to purchase the non-fungible ERC721 LAND tokens. MANA is also used to pay for goods and services on the Platform.
In addition, whenever a LAND is purchased, Decentraland burns the corresponding amount of MANA. Initially, the Decentraland team sold each piece of LAND for 1,000 MANA. However, now that there is a secondary market, LAND prices vary.
At the time of preparing this article for publication, Decentraland MANA is trading at $0.0912. Along with a market cap of $131,465,158 USD placing it 88th in terms of market cap, MANA coin’s 24-hour trading volume is approximately 27 million dollars. According to CoinMarketCap data, Decentraland MANA saw its all-time low on November 13, 2017, at $0.0078 and its all-time high on January 9, 2018, at $0.2888.
As for “Decentraland mining,” it is stated that there is no mining for MANA. Because Decentraland is based on the Ethereum mainnet, LAND is stored in Ethereum smart contracts, and MANA is presented as an ERC-20 token.
Decentraland Coin
When a user purchases a LAND in Decentraland, they are free to arrange this area as they wish. Games, applications, and even dynamic 3D scenes can be created. In addition, the real interesting aspect is that users can create LAND-based services for education, professional development, tourism, etc., and thus also earn money.
Actually, it can be considered that Decentraland is a virtual world and LAND is the lands in that world. That is, LANDs are tokenized versions of lands offered to users. Users can earn money within the systems they establish on these lands. In addition, there is no limit to the designed LANDs. That is, users can design both a space colony and a medieval city. The fact that Decentraland uses a simple user-oriented interface for these is also noteworthy.
On the other hand, various items for avatars and the worlds established can be purchased in the Decentraland market. Payments for items purchased from the Decentraland market can also be made with MANA.
MANA Coin Review
The fact that Decentraland offers a three-dimensional platform is well received by users. In addition, the areas designed entirely with the imagination without any limit are also considered another point of attention.
Those who comment on Decentraland seem quite pleased that virtual reality has been brought to the Blockchain field. Because since the platform was launched, it has been serving users and continues to grow.
There seem to be supporters of the MANA coin linked to the platform as well. Especially the steps taken by the platform recently may have contributed to the popularity of the MANA coin as its price has been rising.
How to Purchase Mana Coin?
With Binance, which has a large user base worldwide and continues its developments, you can quickly and reliably purchase MANA coin.
