1. Price and capitalization of Decentraland (MANA)
  2. What is Decentraland?
  3. How does Decentraland work?
  4. Team and partners
  5. Advantages
  6. Disadvantages
  7. How to buy Decentraland cryptocurrency?
  8. How to store your MANA tokens?
  9. Notes and reviews on the Decentraland project

 

What is Decentraland?

Decentraland is an open-source interactive virtual reality platform where users can buy, use and build on virtual land. The system guarantees its users full ownership rights as well as a permanent record of ownership on the Ethereum blockchain .

Decentraland MANA Logo

Decentraland (MANA) logo, by Cryptoast

Like Minecraft or Second Life, there is no real goal in Decentraland . Instead, users walk through a virtual world and purchase virtual land , named LAND . So you can create content and apps there, as well as experience and monetize them. It is an interactive 3D world, which can be accessed using a virtual reality headset or the classic view of a web browser.

The number of LANDs you can buy is limited , with each unit being 16 x 16 meters in size, but there’s no limit to how high you can build on them.

Decentraland allows you to build anything on your LANDs, and we already know what happens when players get such possibilities. Minecraft servers, for example, contain exact replicas of fictional or real worlds, working computers and much more. The possibilities for the Decentraland project are immense .

How does Decentraland work?

MANA is the project ‘s default asset . It is an ERC-20 token that you can buy and resell like most other cryptocurrencies on exchanges .

MANA cannot be mined, and once it is used to buy land from Decentraland, the asset is burn . As Decentraland is built on the Ethereum mainnet, LANDs are stored in Ethereum smart-contracts .

The initial plots sold by Decentraland cost 1,000 MANA, but the secondary market has become quite sophisticated over time, and LANDs now cost between 10,000 and 100,000 MANA. Besides purchasing LANDs, MANA is also used for purchasing goods and services within the Decentraland ecosystem.

Virtual terrains are often merged to form much more expensive LANDs. In March 2018, Decentraland set a record for digital real estate sales with an overall sale of nearly 2,000,000 LANDs.

You can find the list of LANDs for sale on the official marketplace .

Decentraland also partnered  with Binance in December 2018 to enable the purchase of LANDs with Binance Coin (BNB) .

Project ICO

Decentraland ‘s ICO ran from August 8-26, 2017 and raised approximately $24 million worth of BTC and ETH.

Team and partners

Esteban Ordano –   CEO and CTO : A seasoned engineer, he co-founded Zeppelin Solutions and led the team that created Streamium , the first application that implemented payment channels, a crucial technology for scaling payments in chain. As a former software engineer at BitPay , he co-created one of the leading Bitcoin infrastructure libraries known as Bitcore . He was also part of the teams behind Copay (a bitcoin wallet) and Insight (a bitcoin blockchain API).

Esteban spent his formative years competing in math and computer science Olympiads, investing two summers working as a software engineering intern at Google.

Ariel Meilich – Project Manager : With a background in venture capital and data analytics, Ariel worked as an analyst at Charles River Ventures, a leading venture capital fund in Silicon Valley.

Before entering the tech world, he spent two years as a National Institute of Health fellow, conducting neuroscience research on human decision-making, while running a BPO agency that catered to clients such as than Amazon and General Electric.

Manuel Araoz –  Member of the Board of Directors: With a well-established reputation in the field of cryptocurrencies, Manuel is the co-founder and CTO of Zeppelin Solutions, the leader in security in smart-contracts. Through their verified smart contracts, organizations like Brave, Golem, and Blockchain Capital have raised over 0 million. Manuel is known as the creator of Proof Of Existence, the first blockchain-based non-financial application. He has also served as technical manager at Bitpay, Copay and Insight.

Yemel Jardi –  Board Member: A veteran developer in the blockchain industry, he worked on ChangeTip building a micropayment infrastructure for the web, before it was acquired by Airbnb in 2016. Prior to that, he was a software engineer at BitPay (the leading bitcoin payment processor) where he designed some of the open source tools most used by bitcoin developers around the world, such as the Bitcore library. Yemel is also a professor in the field of cryptocurrencies at the Technological Institute of Buenos Aires and president of the South American Business Forum.

The team is also made up of many developers such as:  Matias Bargas, Federico Miras, Hugo Arregui, Agustin Mendez, Mario Sossich and  Ariel Barmat.

Concerning the partners of Decentraland , they are not numerous but are all the same of a remarkable quality:

  • HTC  : February 26, 2019, the Decentraland team announced on its blog a partnership with HTC. It will be possible to buy, sell and manage acquired LANDs through the Exodus 1 , HTC’s next phone implementing blockchain technology. This partnership therefore opens the doors to a potentially future collaboration for the porting of the game to the company’s virtual reality devices.
  • Binance  : as detailed previously, the possibility of being able to buy LANDs with Binance Coin is a major asset. This increases the quantity of potential buyers and offers better visibility to the project.

How to buy MANA?

MANA is available on many platforms, but for practical reasons (fees and available liquidity), it is preferable to use Binance to obtain it. is currently listed on more than 15 trading platforms, the best known of which are Binance, OKEx and Huob. The easiest way to get THETA is still to go through Binance because of the high liquidity of its markets.

Binance Discover MANA on Binance

-10% discount on fees, with the code SVULQ98B 🔥
👉 And also -10% on Binance Futures with the code cryptoast

Explanations for buying MANA on Binance

  1. Register on Binance;
  2. You will receive an email containing a link to verify your account;
  3. Deposit funds on the platform;
  4. Click on the  Market menu  and search for the pair  BTC/MANA or MANA/USDT depending on the funds you have;
  5. All you have to do is buy MANA for the amount of your choice;
  6. Congratulations 🎉 You are now in possession of MANA tokens!

Here is an overview of MANA’s current position in the cryptocurrency market:

Decentraland
MANA / USD
$1.34
(-5.26%)
Ranking#52
Market capitalisation$2,031,809,115
Volume (24h)$228,930,448
24h High/Low$1.43/$1.32

 

How to store your MANA?

The safest way to store Mana tokens is to use a hardware wallet . These are electronic wallets in the form of USB keys. The 2 best known are the edger Nano S and the Trezor .

The MANA being an ERC-20 token, it is possible to store it on wallets such as MetaMask.

Decentraland(MANA) Ratings & Reviews

With such a talented and promising team , the risks of a bitter failure of the Decentraland project are low. Nevertheless being based on the blockchain, the fluctuations of the interest that the players can bring to the applications of this one can be important from one month to another. If the technology continues to democratize and the developers are still hard at work on the project, there shouldn’t be any major obstacles to their success .

The partnership with Binance Coin shines a light on the team’s work and breathes new life into the Decentraland-related LAND market. In addition, the project approached HTC , which, let’s remember, is one of the leaders in the sale of virtual reality headsets with its HTC VIVE . The partnership is currently only linked to the brand’s next phone, but this suggests that the offer could extend to the virtual reality branch of it.

The only downside is that there are a lot of games of this type on the market and the competition is fierce. Decentraland will have to stand out from these by offering unique innovations other than the use of blockchain within its system to accommodate all types of players.

5/5 - (1 vote)

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SAKHRI Mohamed

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Passionate about the web, new technologies and IT, I share on easy-tutorials.com tutorials, tips, advice, online tools and software for Windows, Mac and Linux.

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