The next time you believe what Mark Zuckerberg says about metaverse, reconsider what Decentraland value holds in it. Putting the talk aside, the promises of a virtual world from web3.0 are brought to realization through blockchain. From gaming to surfing, shopping and currency exchanges will be a part of this interactive world being built atop of virtual reality.
Here’s our Tokize review and final assessment of the first metaverse ever built on blockchain.
You will also uncover if Decentraland is a good investment.
Have You Heard of Decentraland Staking?
Decentraland’s future is a web3.0 project with a discoverable virtual world and a platform in which digital assets can be created. The dynamic of this ecosystem rests on the roles both users and creators play. Creators will invent NFTs, gaming and other digital worlds. Users, on the other hand, will use the existing digital assets and buy or rent portions of the virtual world.
Decentraland is a decentral application built atop a blockchain, giving all participants a secure accounting of everything exchanged within its “world.” Regardless, all of Decentraland can be priced in USD. As its name suggests, this is a decentralized project. Users have control over their digital assets and can interact with each other without the need for intermediaries.
For users to start, they need to create an account and transact using the native Decentraland crypto. MANA is the native token, but it can also be transferred into LAND, which, though tracked by the blockchain, exists as an NFT. Land is, quite literally, bought or sold this way.
For developers, Decentraland is a good investment when they use the network to create:
Decentraland crypto has a consensus protocol that enables its blockchain governance through a decentralized autonomous organization (DAO). Within its DAO, policies and protocols are among the aspects of this blockchain that get decided on. The vote you either do or don’t get is relative to the amount of MANA, NAMES and LAND you have within your active wallet.
Since governing the metaverse ecosystem is done through DAO votes, here is an overview of the Decentraland-crypto assets that hold financial value within the platform. Here are the primary sources of tender that enable Decentraland staking:
This is the common crypto of the development project. It can be bought on exchanges or directly on the Decentraland blockchain. The interaction users have with the metaverse gives them opportunities to buy NFTs, enter into games and use the network for their development projects. As a form of payment, MANA can also be used to buy LAND and NAMES.
With a navigable map of terrain plotted out, your ownership of LAND tokens represents the “real estate” you’re entitled to within this metaverse. Though land is not required to explore Decentraland’s future, each parcel is based on the price of Decentraland. You can rent and sell your land while also using it to invite public gamers to find the games you developed.
Names are an example of the various assets you can legally own within the metaverse. Even if you convert LAND into MANA, then that MANA can be used to purchase names. The Name NFTs of Decentraland are in an entire collection of over 35,000 options, and each name is stored within the metaverse’s own blockchain. They are stored as secure NFT tokens.
You can convert Decentraland’s price into USD due to these tokens.
During 2017, the Decentraland founders were Esteban Ordano and Ari Meilich. The project was born out of a need to combine blockchain to the rising demand for virtual reality. The founders foresaw a future in linking surfers to web3.0. As a result, they developed features, like VR, AI, NFTs and crypto, to make their life-like world inhabitable for people.
During its initial-coin offering (ICO), Decnetraland crypto raised over 24-million USD of ether (ETH). Being fully funded, the Decentraland platform was launched in February of 2020. Since then, Decentraland’s future set the standards of metaverse and how daily access to web3.0 will work. For speed and scalability, the network is now well integrated into the likes of Polygon.
With a rise in the use of cryptocurrencies, Decentraland staking was created to make a way for VR, gaming and NFTs to coexist on a single ecosystem. The end result is a place some call the metaverse while others say “multiverse.” This world is likely to be inhabited by more people as the future comes to a close and makes Decentraland blockchain more widespread.
The games played in this digital world will provide tokens as rewards, and oftentimes, those tokens will be exchangeable into native coins, fiat or other cryptocurrencies. Powering the key functions of web3.0 also calls for crypto integrations to be made into web browsers and the metaverse. Essentially, to use a browser or metaverse, you’ll be charged based on your activity.
This payment model defines web3.0 and converts platforms like Decentraland into USD. The network was created as the first of its kind built atop Ethereum contracts.
You first have to enter it, for Decentraland is a virtual world. The price of Decentraland is, technically, an ERC-20 token called MANA. The experience, property-owner functions and gameplay of this virtual universe are created through its native token. By enabling both development and use, this platform offers creatives the tech they need to create blockchain.
Within the same ecosystem, players are invited to hold an account and access a variety of interactive software. By adding in NFTs, in the form of LAND, users and developers create a truly real experience that one blockchain keeps automated and autonomous. Decentraland blockchain is a distributed ledger (DLT) that keeps track of all the transactions it hosts.
Being a network with a parenting company, the MANA protocol is managed by a DAO. This organization is a band of people who earn voting rights based on how much they’ve invested in Decentraland’s future metaverse. The group decides on the coding and execution of protocols. However, the final price of Decentraland is based on demand or what others want to pay for it.
Theorizing on your own Decentraland prediction is only profitable if you have a platform to use. Your predictions can be built based on Decentraland charts offered by the leading exchanges of the world. With your Decentraland forecast, you need to track prices in a live setting. Here’s a look at where you can follow and then trade Decentraland stock prices.
Do You Think Decentraland Is a Good Investment?
You can buy MANA on a number of exchange platforms. Just be sure to secure your account by verifying your identity and banking data. Modern crypto exchanges are safe, fast and reliable.
You can start your search for the right platform with the list we have below:
Binance is the most used cryptocurrency trading platform in the world. It’s a simple, pleasant and secure interface. You can purchase MANA with either bitcoin (BTC), ether (ETH) or MATIC. Binance is known for its trading volume, so you won’t find yourself stuck in any trades.
Binance
Binance
Coinbase is the second largest crypto platform around the world. Like with Binance, through Coinbase, you can access a large number of projects, crypto and various blockchains. On this CEX, you can buy in cryptocurrency or in fiat with a bank card.
Coinbase
Coinbase
Kucoin is the third largest cryptocurrency exchange that offers MANA to the public. This platform is flexible and remains a secure option for new investors. The interface is relatively simple, and there’s enough liquidity on the site to ensure that your transactions go through.
KuCoin
KuCoin
Among these, Binance emerges as the one platform we turn to. It has a flawless reputation and is considered by many to be safe and secure. Its user interface is intuitive and easy to navigate, making it a good option for both beginners and experienced traders who stake directly into it.
For each of Binance’s account types, you get a set of tools to trade with, including short-limit trading and stop losses. Binance has a mobile app through which you can trade and track your portfolio no matter where you are or the time of day. All users will need to do a KYC verification.
Now: 42 Fear
Now: 42 Fear
Yesterday: 40 Fear
Last Week: 32 Fear
Here’s how to Know if Decentraland Is a Good Investment
There’s no doubting how important the rise of metaverse technology will be.
Many investors find the timing of Decentraland to epitomize its true opportunities here. As the world is still, largely, skeptical about blockchain, Decentraland blockchain leads the way with public curiosity. What investors know for sure is the steady demand for gaming that exists around the world.
For as long as people play games, surf the web and make art, Decentraland’s value rises.
Do You Know What Decentraland Is?
The success of Decentraland is difficult to predict. Whether Decentraland will go up or if Decentraland will recover is unknown. The future of the metaverse and web3.0 technologies is what will truly test the relevancy of metaverse. Just keep in mind that all crypto projects are subject to volatility, so only invest what you are comfortable with or capable of losing.
