The project was created by the Decentraland Foundation in 2015. So you can see that this game has been in the market for a long time. The team held an ICO in 2017 and managed to raise around 90,000 ETH (which was about $26 million at the time). However, the virtual reality platform was only opened to the public in 2020.
Decentraland users can buy and sell real estate while enjoying gameplay and interaction. It’s like an online game. However, it focuses on the interactions social and economic between users and not on the gameplay himself. Users communicate, attend conferences, open shops and explore the world and new objects. Does this remind you of anything? This is Minecraft from a decentralized world !
All of Decentraland’s land is divided into 90,000 pieces called “plots”. The initial plot size was 10×10 meters of in-game space. In February 2019, the community took a vote. Immediately after, the size of each plot was increased to 16 × 16 meters. Each parcel is an ERC-721 — LAND token.
Let’s talk about tokens. There are two types of cryptocurrency in the game: MANA and LAND.
- MANA is an ERC-20 token that allows the purchase of virtual goods and services within the metaverse.
- LAND is an ERC-721 token used to indicate the right to own a specific land in the game; in other words, it is proof of ownership.
In addition to plots, there are roads and squares in the world of Decentraland. Users cannot buy it because only developers can create items on it. Routes are necessary for users to navigate the virtual world. The ” Plazas are points of attraction for users: public parks and information areas. The closer the land is to roads and squares, the more expensive it is. The area around Central Plaza is the most expensive, as is property in New York’s Central Park.
The world of Decentraland has themed areas called ” Districts“. For example, there are stores on Fashion Street and lecture halls at Decentraland University. Each area is owned and managed by a local community. Unfortunately, land in these areas is no longer available for purchase.
Let’s say you have a (lucky) land! How can you dispose of your purchase?
- Resell . As the game grows in popularity, the price of land increases. Thus, you become a conditional lessor who can benefit from it.
- Rent the land . You will be able to receive passive income from the acquired land.
- Place an ad . You can build any object on their land and even place advertisements. So you can hang a banner of your company or open a showroom.
- Open an NFT store . Very trendy, right? Decentraland is NFT compliant to the ERC-721 standard. For example, digital artists can open a gallery with NFT paintings.
Read also 5 myths about virtual real estate in the Metaverse, beware of received ideas and false beliefs!
MANA Price Prediction for 2023
According to the Long Forecast source, 2023 is unlikely to be a successful year for the Decentraland cryptocurrency. While the price of an asset should start the year at around $20, it should reach the $25 level in March and slowly drop to $16 in December.
The price of the digital coin promises MANA investors a fairly stable income throughout 2023. Thus, the maximum price the asset can reach is around $10.
Trading Beasts is not as bullish as Long Forecast. We mean, at all. So, the token can start the year at $4 and drop to $3.5 in the middle of 2023. However, MANA can hit $6 by the end of the year, which is pretty cool.
MANA Price Prediction for 2024
The long-term forecast source expects the MANA coin to rise and fall in 2024. So the price may rise to $31 by mid-summer 2024, but a correction to the 20 level at $25 could follow by the end of the year.
The Digital Coin Price website predicts stable growth. Thus, the MANA token can reach $11.
Trading Beast is no longer so bullish. The price of the decentralized cryptocurrency may fluctuate throughout 2024 in the $4.8-$7 corridor.
MANA Price Prediction for 2025
According to website Long Forecast, the MANA cryptocurrency will start the year at $20. After that, the price fluctuations will start and could reach $17 in May, $14 in June and $23 in September. Finally, the year will show us a closing price of $29.
In 2025, the price of MANA may also reach $13.5, as the source indicates Digital Coin Price. It’s not a huge boost but a stable growthhowever.