MANA

Decentraland price

MANA
|
3.9/5
Certik
4.3
07/12/2024
CyberScope
4.2
07/12/2024
TokenInsight
3.2
06/06/2023
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USD
$0.32200
+2.94%
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Decentraland price live data

The current price of Decentraland is $0.32200. Since 00:00 UTC, Decentraland has increased by +2.94%. It currently has a circulating supply of 1,864,084,761 MANA and a maximum supply of 2,193,179,327 MANA, giving it a fully diluted market cap of $600.05M. At present, Decentraland holds the 75 position in market cap rankings. The Decentraland/USD price is updated in real-time.

Decentraland price performance in USD

Time periodChange amount%Chg
Today$0.0092000 +2.94%
7 days$0.028100 +9.56%
30 days-$0.09520 -22.82%
3 months-$0.09620 -23.01%

Decentraland market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$0.31010
Last price $0.32200
24h high$0.32620
Heat index ranking
152
Market cap ranking
75
Market cap
$600.05M
Favorited rate
Percentage of users who favorited this asset to all users
5.50%
All-time high
$5.9000
-94.55% (-$5.5780)
Nov 25, 2021 (3 years ago)
All-time low
$0.013000
+2,376.92% ($0.30900)
Mar 13, 2020 (4 years ago)
ICO date
09/18/2017
ICO price
The price at which this crypto was first traded
$0.023390
Circulating supply
The amount of this crypto that is publicly available in the market
1,864,084,761 MANA
Market cap at circulating supply
Market cap = Circulating supply × Last price
$705.98M
Audits
The audit data comes from partners that we have integrated with via API. Our partners conduct security assessments on the provided source code.
CertiK
Last audit: 10/28/2021

About Decentraland (MANA)

Decentraland is a living, breathing, immersive 3D Metaverse built on the Ethereum blockchain. The key aim of Decentaland is to provide a fully decentralized virtual world where users can socialize, learn and monetize various pursuits in an autonomous universe.

Decentraland's native utility token, MANA, is the backbone of the Decentraland economy. The token is used as the primary currency of exchange, making it valuable for players and helps support MANA price. MANA is an ERC-20 token needed to purchase character avatars and wearables, LAND non-fungible tokens (NFTs), and can also be used to pay for other goods and services in the Decentraland world.

The other integral token of the Decentraland ecosystem is LAND. LAND tokens are NFTs representing a player's ownership over areas within the Decentraland metaverse. The possibilities of virtual real estate in Decentraland are limited only by one's imagination. Some players choose to establish NFT art galleries on their land, while others have monetized their LAND by building virtual casinos where players can win MANA.

The demand and growth of Decentraland players drives Decentraland's price. For this reason, the MANA chart often moves in correlation with other gaming and metaverse-focused cryptocurrencies.

How does Decentraland work?

The Ethereum blockchain powers Decentraland. In other words, it leverages Ethereum's distributed and transparent nature to power a decentralized metaverse. This means that users own and manage the virtual world and its digital assets.

In addition, Decentraland employs a multi-layered architecture to ensure the virtual space is secure, interactive, and composable. The platform, in particular, is made up of three infrastructure layers, which are as follows:

The Consensus Layer

This layer creates and maintains a record or ledger where LAND token ownership is registered. The protocol uses this to track the ownership of digital real estate on Decentraland.

The Content Layer

The second layer of Decentraland controls the activities on each plot of land. This is accomplished by enabling a distributed storage system for the files required to render content on virtual plots of land. To render an object on Decentraland, its description must include the content files referencing the texture, 3D meshes, and sound.

The scripting entry point and the definition of peer-to-peer (P2P) interactions are also required files. The former refers to the data needed to establish the position, interaction, behavior, and movement of 3D objects. In contrast, the latter refers to the appropriate server connection required to initiate P2P interactions, such as gestures, positions, voice chats, and messaging.

Real-time Layer

The distributed server connection is established on the final architectural layer to enable social interactions, including user-to-user and user-to-application interactions.

After all these infrastructures were in place, users could create avatars on Decentraland, acquire lands, and build on them. Casinos, nightclubs, museums, lounges, and other structures can be built on these lands.

You can control how other users interact with these lands after you build applications or scenes on them. You can, for example, charge a fee whenever other users request access to a service you provide on your property. If building applications are not your strong suit, you can rent your land for a fee. Overall, you are expected to manage your digital land like you would manage physical property.

Decentraland has provided easy-to-use Builder tools, knowing that the coding requirements for building digital applications from scratch may be too complex. Users can use this to create applications and scenes on Decentraland using a drag-and-drop system. The marketplace, where you can sell or buy LAND, wearables, names, and other in-game assets, is another essential component of the Decentraland ecosystem.

MANA price and tokenomics

The MANA token has a total supply of 2,193,539,027 coins, according to CoinMarketCap data. Approximately 1.86 billion MANA tokens are currently in circulation. On August 18, 2017, the Decentraland team held a private token sale in which $25 million USD in ETH was raised. MANA tokens were distributed to various parties from the initial supply in the following distributions:

  • Forty percent allocated to private sale investors.
  • Twenty percent channeled to the Decentraland Foundation.
  • Twenty percent given to the development team.
  • Twenty percent allocated to the community reserve.

MANA uses a deflationary burn mechanism to maintain scarcity and support the Decentraland price. When LAND is traded in MANA on the Decentraland marketplace, a 2.5% fee is deducted from the transaction. This fee is then burned, effectively removing it from the total supply of MANA.

About the founders

Ariel Meilich and Esteban Ordano originally founded Decentraland in late 2017. Meilich is an experienced entrepreneur who has previously established a diverse range of startups. He was also a former analyst at a reputable Silicon Valley venture capital fund, Charles River Ventures.

Ordano comes from a more technical background, holding previous positions as a software engineer at notable cryptocurrency businesses like BitPay. Before founding Decentraland, Ordano was an advisor for the Matic project and ran his own smart contract development agency.

While both founders have since stepped down from their roles at Decentraland, the development of the Decentraland project is ongoing. In the true spirit of blockchain technology, the development of the project is overseen by the autonomous Decentraland Foundation.

Decentraland has positioned itself over the years to become a market leader in the crypto sphere while also making a splash in the traditional economy. This is evident in the ecosystem's recent barrage of impressive partnerships. For example, in December 2021, Decentraland partnered with basketball superstar Stephen Curry and Under Armour, the sports fashion company that produces Curry's signature shoes. In the same month, Decentraland also announced a collaboration with luxury marketplace UNXD to host a metaverse fashion show.

Decentraland highlights

Decentraland has had a lot of success with mainstream partnerships. For example, the Barbadian Ministry of Foreign Affairs announced plans to establish virtual embassies across multiple metaverses, including Decentraland.

In addition, Steph Curry and Under Armour partnered with Decentraland in December 2021. Samsung followed suit on January 6, 2022, when it announced plans to build a digital version of its flagship store in New York City on Decentraland.

Tennis Australia announced a critical partnership with Decentraland on the 17th of the same month, allowing the VR platform to host virtual recreations of the Australian Open. Lastly, JP Morgan opened a lounge on Decentraland a month later, making it the first bank to launch a product on the metaverse.

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MANA FAQ

What is Decentraland?

Decentraland is a blockchain-powered virtual world built on the Ethereum network. Players in the Decentraland world can explore, play, and socialize in the metaverse and monetize their experience through in-game assets.

What is the difference between MANA and LAND?

MANA is an ERC-20 token used as a form of currency in the Decentraland metaverse. All MANA tokens have the same value and are interchangeable. On the other hand, each LAND token is a unique NFT (ERC-721), and its value varies according to its properties.

Where can I buy MANA?

Easily buy MANA tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include MANA/USDT, MANA/USDC and MANA/BTC.

You can also buy MANA with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

Swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for MANA with zero fees and no price slippage by using OKX Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into MANA, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

How much is Decentraland worth today?
Currently, one Decentraland is worth $0.32200. For answers and insight into Decentraland's price action, you're in the right place. Explore the latest Decentraland charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Decentraland, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Decentraland have been created as well.
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