A 66-fold increase in one year! MANA, the former leading project in the Japanese yen universe, is making a comeback! Why is the skyrocketing MANA so popular among celebrities and companies? The dark horse in the cryptocurrency world is taking off!

Hey guys, I’m Anna, an internet worker.
This article will introduce the leading project of the Metaverse, Decentraland (MANA), which is a virtual world built on the Ethereum blockchain. Its token mana coin has been rising in value since its listing, becoming one of the first choices for people to invest in the Metaverse.
What is Decentraland (MANA)?
Decentraland (MANA) is a virtual world (metaverse) built on the Ethereum public chain, which aims to incentivize a global user network to operate a shared virtual world. The project completed the public ICO of its governance token as early as August 2017. Compared with many emerging GameFi projects today, it can definitely be called the big brother of the industry.
Decentraland is a "completely open world game". The official has not set up any sign-in mechanism to force players to log in, and there is not even a main storyline or basic tasks. Players can freely build their own land, purchase or create various NFT landscapes (such as statues, buildings, and even create their own game ecosystem for people to play), and charge visiting players. Of course, they can also visit other players' territories.
for example:
Minecraft is a game that is very familiar to the public, and we can roughly regard Decentraland and The SandBox as the blockchain version of Minecraft, but of course, they are creating a brand new world.
Decentraland allows players to create their own 3D worlds and sell goods to others. This production of value and trading is also the underlying architecture of its token economy system. Users can use the game currency MANA to purchase land in these worlds and build various buildings on them.
Any building you can imagine: parks, hotels, even casinos, etc. In addition to selling their works, users can also experience being a virtual landlord and renting Land to others for rent.
If you are unable to build a building or landscape due to technical or time constraints, you can outsource the design to someone else, or you can directly become a landlord and rent the land to others for use and collect rent. (However, just like real estate in the real world, the surrounding construction and resources will affect the rental income)
The authorities are also currently developing virtual reality technology. In the future, users will be able to actually visit the land through VR devices and interact with the facilities inside.
Over time, the platform has evolved to enable interactive applications, world payments, and peer-to-peer communications for users.
Decentraland is loved by celebrities and companies
Decentraland is a very successful project in virtual land. It was once very popular, and many well-known companies and celebrities spared no expense in investing in it.
In November 2021, singer JJ Lin announced that he had spent $123,000 to buy three plots of virtual land on the Decentraland platform. JJ is not the only one who bought Decentraland land. The famous Werewolf player Chen Lingjiu also posted the news of buying virtual land on his personal Facebook, announcing that he had reached a connection with another virtual land development team, TheSandbox, and would hold an online new song release on it in the future.
Although the two companies purchased virtual land from different projects, it is not difficult to see that many celebrities have long been optimistic about this market and have made early plans for their investments in blockchain.
In addition to the clues revealed by the entertainment industry, even the world-renowned traditional art auction house, Sotheby's, has announced that it will purchase a prime location in Decentraland to open a virtual gallery. Currently, players can also directly enter the virtual land, view the exhibited artworks, and even actually participate in the auction.
In addition to the support from the entertainment and art circles, Token.com, a company that provides services in the cryptocurrency market, has also purchased a lot of land in Decentraland.
Currently, there are a wide range of businesses within Decentraland, including shopping malls, high-end residential areas, and future luxury goods.
How does Decentraland work?
1、Decentraland DAO
Decentraland is most often mentioned for its infrastructure, which provides a decentralized ledger for land ownership and a peer-to-peer network for user interaction. Unlike most online games, players have direct control over the rules of the world they are playing in. The DAO allows token holders to vote on in-game policies and organizational decisions with specific consequences for everyone. Voting is the mechanism that affects everything from the types of items allowed to investments in the treasury.
One of the most powerful features of Decentraland is its ability to use smart contracts. This means it has many potential uses, such as advertising and content curation.
NFTs represent in-game collectibles, such as clothing and items. Holders store these tokens in their crypto wallets to trade with other users on the Decentraland Marketplace.
2. Decentraland Protocol
Decentraland’s protocol can be divided into three main layers:
Consensus layer: Maintains the infrastructure of the virtual world through Ethereum’s smart contracts, mainly used to track and manage land ownership and related content.
Land content layer: presents relevant content that users see in the virtual world through the use of a decentralized storage and distribution system.
Real-time layer: Through the hosting server of the land owner or the third party, users can communicate with each other through P2P connection.
What is MANA coin?
MANA is Decentraland’s cryptocurrency token, an ERC20 token used to purchase LAND plots and pay for in-world goods and services.
Basically, you can think of MANA as an essential currency in Decentraland. Mana coins can not only be used as tokens to purchase land, but also allow players to directly buy and sell any items that exist in this world in Decentraland, such as clothing accessories (Decentraland Wearables) and even names in the game (Decentraland Names).
In addition to being a circulating currency, in recent project updates, the team has added a governance function, which is a hotly discussed topic in the cryptocurrency circle recently – DAO (Decentralized Autonomous Organization).
According to the official website announcement, players can initiate proposals or vote based on the number of MANA tokens they hold. For example, they can decide on functional upgrades of land and assets, the opening hours of future land auctions, and even the servers used by the project and the members of the council.
Burning of MANA Coins
When you buy LAND, Decentraland burns the MANA you used to purchase it. The Decentraland team initially sold each LAND parcel for 1,000 MANA. However, LAND prices now vary. Currently, the cheapest LAND parcel is 11,750 MANA, while price tags in more popular areas are in the millions. In March 2018, the highest price a parcel sold was 2,000,000 MANA, or $175,578. That's a lot of money for a piece of virtual land, and it allowed the seller to make a pretty nice profit.
Decentraland (MANA) coin exchange rate introduction
Currency Name Decentraland Currency Symbol MANA Rank (Based on Market Cap) 49 Total Market Cap US$1,100,201,524 Historical High Price US$5.85 Historical Low Price US$0.00923681 Trading Volume US$123,899,572
What is LAND?
The second major virtual asset in Decentraland is LAND.
LAND is a non-fungible token (NFT) on the blockchain that cannot be exchanged. It represents virtual land in Decentraland, which is maintained using Ethereum smart contracts. Each digital plot of land measures 16 meters by 16 meters. It has unique coordinates (X, Y) and cannot be recreated or copied. You can buy and sell LAND using MANA to create applications such as games, 3D scenes, casinos, etc. Once you buy a piece of land, you can do whatever you want with it.
The maximum number of parcels on LAND is limited to 90,000. If you would like to purchase LAND and view a map, search the LAND Marketplace.
Key Features of Decentraland (MANA)
Decentraland is built for content creators, businesses, and individuals. It is an artistic medium that provides business opportunities and a source of entertainment for users of the emerging crypto sub-industry, the metaverse. The game world is divided into 90,601 individual plots of LAND, each represented by an ERC-721 NFT. Each plot of LAND is exactly 256 square meters and can be found at any given coordinate in the metaverse.
While landholders can develop their plots into anything they like, most virtual worlds are divided into a number of regions, each of varying sizes and themes. Said regions are generated through crowdsale of MANA tokens, and trading is prohibited on the land within these regions.
As of January 2021, the cyberpunk-themed Aetheria is the largest region, comprising a total of 8,008 LANDs.
Decentraland users have control over the virtual world, policy updates, and details of LAND auctions and content within the Metaverse.
In addition to serving as a creative conduit, users also monetize their land through rentals, advertising, and other services in the digital world. Similarly, users generate income by creating items on the marketplace, which are then exchanged for MANA tokens.
How to play Decentraland?
To start experiencing the Decentraland game world, you first need to have a cryptocurrency wallet, such as the common Fox Wallet, to connect to your personal account. If you don’t have a cryptocurrency wallet yet, you can actually experience the game world as a visitor, but the functions will be limited and the relevant personal information will be directly stored in the game world.
When you enter the virtual world of Decentraland, the first thing you do is to create a character for yourself. After the basic appearance settings are completed, the system will ask you whether to obtain a personal identity passport, which means you can set a name for your account. However, this procedure costs 100 Mana coins, which is actually the same as applying for an ID card in real life.
The process of progressing in the Decentraland virtual world is mainly to engage in various exploration activities, such as exploring squares, museums, universities, and other different areas.
Decentraland (MANA) coin historical price analysis
The boom period for the MANA coin actually started in December 2020, when the asset was priced at around $1.05. MANA continued to show the same trend until April 2021, when the price of MANA soared to a new high of $1.56. However, after setting a new high, MANA continued to correct downwards, and the Decentraland price fell below $0.43.
At the end of October 2021, mana coins began to rise sharply, bringing the price of Decentraland to over $3.5. At that time, Facebook officially changed its name to Meta and announced its entry into the Metaverse. Mana coins related to the Metaverse also rose, and the price soared.
In November 2021, Decentraland hit an all-time high of $5.90. However, after touching the new ATH, the MANA price faced a major correction, which stabilized the Decentraland price around the $2 mark.
Future development prospects
The development prospects of the Decentraland virtual world are very broad, and MANA coin is an important component supporting the operation of this platform.
In the future, the price trend of MANA coins will be affected by various factors, such as user growth, virtual land transactions, and application development.
It can be expected that with the development of the Decentraland virtual world and the gradual increase in users, the application scenarios and transaction volume of MANA coins will gradually expand, so MANA coins are expected to maintain a stable growth trend in the future.
Everyone, please move your hands and pay attention~
Thank you for your support, see you next time!