The project was created by the Decentraland Foundation in 2015. So you can see that this game has been on the market for a long time. The team held an ICO in 2017 and managed to raise approximately 90,000 ETH (which was about $26 million at the time). However, the virtual reality platform will not be open to the public until 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 to play 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 original plot size was 10×10 meters of in-game space. In February 2019, the community voted. Immediately afterwards, the size of each plot was increased to 16 x 16 meters. Each package is an ERC-721 — LAND token.
Let’s talk about tokens. There are two types of cryptocurrency in play: MANA and LAND.
- MANA is an ERC-20 token that allows the purchase of virtual goods and services within the metaverse.
- COUNTRY is an ERC-721 token used to indicate the right to own a specific land in the game; in other words, it’s a title deed.
In addition to plots there are weigh 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 through the virtual world. the ” Squares are points of attraction for users: public parks and information spaces. The closer the country is to roads and squares, the more expensive it is. The area around Central Plaza is the most expensive, as is real estate in New York’s Central Park.
The world of Decentraland has themed areas called ” districts“. There are shops on Fashion Street and lecture halls at Decentraland University. Each area is owned and managed by a local community. Unfortunately, there is no more land for sale in these areas.
Let’s say you have a (happy) country! How can you get rid of your purchase?
- resell . As the game grows in popularity, the price of land rises. In this way you become a conditional landlord who can benefit from this.
- Rent the land . You can receive passive income from the acquired land.
- Place an ad . You can build any object on their land and even place advertisements. For example, you can hang a banner of your company or open a showroom.
- Open an NFT store . Very trendy, right? Decentraland is NFT compliant according to the ERC-721 standard. For example, digital artists can open a gallery of NFT paintings.
Read also Good news for Terra: LUNA crypto is up +17% as UST becomes the third largest stablecoin in the world!
MANA price forecast for 2023
According to the Long Forecast source, 2023 is unlikely to be a successful year for Decentraland’s cryptocurrency. While the price of an asset should start the year around USD 20, it should reach the USD 25 level in March and slowly decline to USD 16 in December.
The price of the digital currency promises MANA investors a fairly stable income in 2023. the maximum price the asset can reach is about $10.
Trading Beasts is not as bullish as Long forecast. We mean, not at all. So the token could start the year at $4 and drop to $3.5 in the middle of 2023. However, MANA could hit $6 by the end of the year, which is pretty cool.
MANA price forecast for 2024
The source for long-term forecasts expects the MANA coin to go up and down in 2024. So the price could rise to $31 by the middle of the summer of 2024, but a correction to the 20 level at $25 could follow by the end of the year.
The Digital Coin Price website predicts steady growth. Thus, the MANA token can reach $11.
trade beast is no longer so optimistic. The price of the decentralized cryptocurrency may fluctuate in 2024 in the $4.8-$7 corridor.
MANA price forecast for 2025
According to website Long forecast, the MANA cryptocurrency will start the year at $20. After that, the price swings will start and can reach $17 in May, $14 in June, and $23 in September. Finally, the year will show us a closing price of $29.
In 2025, MANA’s price could also reach $13.5, as the source indicates Digital coin price. It’s not a huge boost, but a stable growthhowever.