If you’re looking to visit Decentraland (MANA) and find out what is it for the first time, the first thing you’ll need to do is navigate to the official website and click “Start Exploring” in the top right-hand corner. Connect a crypto wallet that you already own, or just enter as a guest.
You will need to do this on a desktop, as Decentraland is not yet supported on mobile devices.
What is Decentraland (MANA)?
1. Who Controls Decentraland (MANA)?
Decentraland draws its intrinsic value from its technical capability and potential. The uniqueness of the project also provides more value for Decentraland and its two tokens, LAND and MANA. The number of users and the overall demand for MANA that people can use to buy a parcel in the digital VR world also gives value to Decentraland and the community is growing as a result.
The price of MANA tokens in the market is dependent on the demand and its max supply, which is fixed and limited.
2. Who Created Decentraland (MANA)?
Decentraland was created by Argentinians Ari Meilich and Esteban Ordano, and has been in development since 2015. When it launched in 2017, parcels of digital land sold for about $20, and mana tokens sold for $0.02. The game’s first map, Genesis City, was made up of 90,601 parcels of land.
Decentraland maintains a ledger tracking the ownership of its land parcels. Each LAND token has unique coordinates in this metaverse, referencing a description file that represents the content within the LAND parcel.
The platform also has a content layer that controls what happens within each LAND parcel, including script files that define the behavior and placement of referenced content and content files that specify visuals and static audio. This layer also includes the interaction definition file, which delineates peer-to-peer interactions like messaging, gesturing and voice chat. Lastly, the real-time layer enables social interactions through messaging, voice chat and user avatars.
Decentraland also has a marketplace and a drag-and-drop editor that players use to access build scenes. Within this marketplace, players can exchange and manage their LAND tokens. Players can also use them to buy in-game items such as unique names and wearables. All transactions that players execute are settled between Ethereum wallets, with the blockchain verifying and logging these exchanges. Decentraland’s extensive builder tools allow users to create a unique experience within their LAND parcels.
3. Decentraland (MANA) Pros and Cons
Decentraland (MANA) Pros:
- Decentraland Is Among the Major Players in the Virtual Reality World
- Largest Virtual Land Sale
- NFT Art
- Has the Confidence of the Largest Digital Asset Management Firm
- MANA Is Highly Undervalued
- Continues to Enjoy the DeFi Boom
Decentraland (MANA) Cons:
- The Platform Is Still In Its Early Development Phase
- Many People Do Not Understand the Concept of NFTs
- Infinite Competition in the NFT Space
4. The Difference Between Decentraland (MANA) and Traditional Currencies
The main difference between them is, the traditional currency is a centralized system and bitcoins are decentralized one and peer-peer systems. Hence there are no central authorities to regulate rules and regulations on a bitcoin transaction. But a traditional currency is strictly regulated by the governmental authorities. Both the bitcoins and fiat currency have values which can be used for buying and selling of goods in the market.
- Flexibility
With traditional currency functioning for five days a week and die to transaction restriction, there is a chance of freezing of currency. There is no limit in the number of currencies, being printed, and hence when there is inadequate currency, it will affect the buyers and sellers, resulting in inflation.
- No Fraudulent Activity
If you want to transact with a traditional currency system, the users have to provide personal details like name, address, phone number, and lots more. So, with the internet technology, the malicious user will be able to hack the account details of the traditional currency system easily. Traditional currency can suffer from double-spending, where the same money is used for more than one transaction.
- Reduced Cost
In a traditional banking system, for making a national transaction, it will take 2-3 working days, and the transaction fees will be high. In the case of international transactions, the transaction fee will be very higher, and it will take 15 days to complete the transaction. In a Cryptocurrency system like bitcoins, there is no transaction fee for making a national transaction. The transaction will also take place in seconds or within 24 hours.
5. Is It Safe To Use Decentraland (MANA)?
Decentraland uses TypeScript coding for creating scenes in the ledger known as metaverse2. The protocol secures the system where the VR ecosystem is hosted and created to support a growing number of members. Additional security is facilitated through the support of Ethereum.
Users’ ownership over LAND is secured through the first layer of the system as the system tracks and records LAND purchases and ownership of VR parcels on the Decentraland VR platform.
Users and community members can test the network for bugs and critical risk points and report any suspicious malfunctions to the team in return for a bounty.
Decentraland is the first decentralized VR platform and metaverse for interaction and communication between users. Decentraland has the virtual property that users can buy with MANA. The virtual property is created in the form of non-fungible tokens – LAND. Users can create and enjoy interactive experiences as the metaverse further develops as a marketplace for personal and business purposes. Users can buy and sell products like collectible assets and services, creating a dynamic environment.
MANA has no use case outside of the Decentraland universe other than being traded on the live cryptocurrency market. In the Decentraland VR metaverse, MANA is the main currency and enables users to buy LAND, services, avatars, and other in-game items.
How Does Decentraland (MANA) Work?
Similar to games like Skyrim and Fallout, Decentraland is an all-immersive virtual universe. However, instead of playing on a two-dimensional screen, you participate in a three-dimensional world. It seems to be the logical next step before creating full-blown AI-based games in the physical space, à la Westworld.
- What Is LAND?
In Decentraland, the spaces that you interact with are LAND, non-fungible digital assets that you purchase in the game. Once you own a plot of LAND, you’re free to do with it as you choose. You can create games, applications, gambling services, or even dynamic 3D scenes. But, why stop there? Although not its primary purpose, you can also create LAND-based services around education, professional development, tourism, etc.
The number of LAND is capped, and each plot of LAND is 33 feet by 33 feet, but there’s no limit to its height. Recently Decentraland created LAND Estates, a feature that allows you to more easily manage your LAND by associating adjacent plots. If you’re interested in purchasing LAND (or just want to see the map), you should check out the LAND marketplace.
Similar groupings on LAND comprise Districts. Districts are basically communities that revolve around a shared theme. For example, there may be a District just for crypto enthusiasts with cryptocurrency apps and services. You can vote on District issues through Decentraland’s voting dApp, Agora. The amount of LAND you hold in a specific district correlates to the weight of your vote. Decentraland created Agora to give you more control over what happens in your districts, and to provide feedback on the platform at large.
- What Is MANA?
MANA is Decentraland’s cryptocurrency token. It’s an ERC20 token that you use to purchase plots of LAND as well as pay for in-world goods and services.
When you buy LAND, Decentraland burns the MANA that you purchase it with. The Decentraland team originally sold each plot of LAND for 1000 MANA. Now that there’s a secondary market, though, the LAND prices vary. Currently, the cheapest plot of LAND is 11,750 MANA while more popular areas have price tags in the millions. The highest selling plot went for 2,000,000 MANA, or $175,578, in March 2018. This was quite a bit of money for a virtual plot of land and left the seller with a nice profit.
How to Make Money with Decentraland (MANA)?
Here are quite a few approaches for us to make money with Decentraland (MANA), such as Mining, Buying & Hold Bitcoins, Accept Payments in Decentraland (MANA), Earning Decentraland (MANA) by turning into an Affiliate, Lending Decentraland (MANA), and Micro Earnings, and Trading.
- Decentraland (MANA) Mining
- Buy & Hold Decentraland (MANA)
- Accept Payments in Decentraland (MANA)
- Determine how you’ll use Decentraland (MANA)
- Find a Decentraland (MANA) wallet
- Find a Decentraland (MANA) payment processor
- Accept Decentraland (MANA) payments
- Becoming an Affiliate
- Lending Decentraland (MANA)
- Micro Decentraland (MANA) Earnings (Faucets, Offer Wall, Short Links, Surf Ads……)
- Decentraland (MANA) Games
- Micro Decentraland (MANA) Tasks
- Trade Decentraland (MANA)
How to Buy Decentraland (MANA)?
1. Things To Know Before You Buy Decentraland (MANA)
Buying Decentraland (MANA) and holding onto it in hopes it will appreciate in value, is the most common form of “investing”. As with all investing, you should never invest more than you are willing/able to lose. This is especially true with Decentraland (MANA), since it’s still a very risky investment.
The most important thing to keep in mind when buying Decentraland (MANA) is to make sure to buy only from exchanges that have proven their reputation.
Another key tip is to make sure you don’t buy all of your Decentraland (MANA)s in one trade. Instead use a dollar cost averaging method—buy a fixed amount every month, week or even day throughout the year. This ensures that you buy the most Decentraland (MANA) when it’s on the rise, and less when it’s going down in price.
2. How to Buy Decentraland (MANA) on a Crypto Exchange
- Coinbase – Secure online platform for buying, selling, transferring, and storing cryptocurrency.
- eToro – Trade and invest in a diversified portfolio, starting at $10, or practise risk-free with a virtual portfolio.
- Bitfinex – Digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers.
- Binance – Low trading fees, a generously wide range of leverage, and high liquidity.
- KuCoin – A large cryptocurrency exchange offering the ability to buy, sell, and trade cryptocurrencies
3. How to Buy Decentraland (MANA) with Cash
- Find a seller in your area who accepts cash.
- Select amount of coins and place an order.
- Receive account number from the seller.
- Deposit cash into the seller’s account.
- Upload your receipt to prove you made the deposit/trade.
- Receive Decentraland (MANA)!
4. How to Buy Decentraland (MANA) with Credit Card
Not all platforms will allow you to use a credit card to make your Decentraland (MANA) purchases. If you do choose a platform allowing such transactions, keep in mind that there may be extra fees associated with the purchase. Many credit card companies process cryptocurrency purchases via credit card as cash advances, which can incur high interest rates, among other fees.
5. How to Buy Decentraland (MANA) with Paypal
- Login to Paypal and Select Cryptocurrency
- Select ‘Decentraland (MANA)’
- Select ‘Buy’
- Choose How Much You Want to Buy
- Select Payment Method
- Hit the ‘Buy’ button
6. Should I Buy Decentraland (MANA) In 2022?
Decentraland (MANA) has established a fast, reliable network and works with the user experience of the product. Based on our Decentraland price forecasts, these features can help the MANA token gain a much higher price of $6.7 in 2023. If the drive for functional crypto continues into 2023, the crypto may even see a paradigm rush as per our Decentraland MANA price prediction 2023.
Analyzing Decentraland MANA price prediction for the year. There are quite a few forecasts going forward for Decentraland (MANA). Especially keeping in perspective the technological announcements and progress the company has designs on, there are few decentraland forecast that the MANA price may reach $8 in the crypto market.
How to Sell Decentraland (MANA)?
1. Things to Know Before You Sell Decentraland (MANA)
To get started with Decentraland (MANA), you’re going to need three things: an exchange, a wallet and the knowledge of how to buy the cryptocurrency. This last one is easy with our guide on how to buy Decentraland (MANA), but the other two are still important. The exchange allows you to buy Decentraland (MANA) from sellers, and the wallet gives you somewhere to store it long term.
When choosing an exchange, you should look for one with many users, good customer support and low fees. Three particularly popular exchanges with newcomers are Coinbase, Robinhood and Binance. However, there’s nothing really tying you to a specific exchange, so you can try new ones and quickly change at any time.
On the other hand, wallets can be much more complex. “Cold wallets” — physical devices holding cryptocurrencies offline — come with a steep up-front cost, but “hot wallets” — pieces of software that hold your coins on a computer — are often less secure. However, since hot wallets are fine for short-term storage and free to set up, it’s a good idea to start with them.
2. Sell Decentraland (MANA) in Cryptocurrency Exchanges
- Step 1: Set up an exchange account
- Step 2: Transfer your Decentraland (MANA) to your exchange wallet
- Step 3: Place a sell order
3. Sell Decentraland (MANA) in P2P Trading
- Step 1: Go to the P2P Trading Page
- Step 2: Choose to Sell and Set Your Currencies
- Step 3: Find a Buyer
- Step 4: Choose How Much You Want to Sell
- Step 5: Send the Offer
- Step 6: Confirm the Release
4. Sell Decentraland (MANA) in Decentraland (MANA) ATMs
- Step 1: Choose withdraw cash
- Step 2: Choose Decentraland (MANA) (these machines normally may support other cryptocurrencies)
- Step 3: Choose amount to withdraw
- Step 4: Send Decentraland (MANA) to given address QR code
- Step 5: Receive cash immediately as Decentraland (MANA) transaction is propagated on the network
How to Get Free Decentraland (MANA)?
Most genuine websites that allow you to earn free Decentraland (MANA) require you to spend money on other things like buying cloud computer mining power, connecting your CPU for mining, playing a game, or completing micro-tasks.
In other words, they offer free Decentraland (MANA)s as an advertisement for their services. Otherwise, it takes time and effort to get free Decentraland (MANA) given its current high value.
- Decentraland (MANA) Faucet
- Decentraland (MANA) PTC Sites
- Decentraland (MANA) Airdrop
- Decentraland (MANA) GameFi
- Decentraland (MANA) Bounties
- Learning About Decentraland (MANA)
- Shopping Reward
- Decentraland (MANA) Interest
- Owning a Decentraland (MANA) Faucet
- Write about Decentraland (MANA)
- Decentraland (MANA) Affiliate Program
- Free Decentraland (MANA) Cloud Mining
What is a Decentraland (MANA) Wallet?
1. Decentraland (MANA) Wallets for Beginners
If you want to fully enjoy the Decentraland experience, we highly recommend you get yourself a digital wallet. Why? Because it will work as your personal account, allowing you to connect from different devices, keeping all your digital assets (such as names, collectibles, LANDs) and progress safe.
If you choose to experience Decentraland without a wallet, the information will be only be locally stored: you will be able to walk around, customize your avatar and chat with others in-world, but you won’t have the chance to receive daily rewards, participate in events or log in with a different device using the same Guest ID and Avatar.
All wallets have a public and private key. A public key Is a unique identifier for your wallet and it looks like this: 0xcba113f589805095a892ecefdb4eb83eff45d98. It is basically a name that you can share freely with others and it’s used to direct assets to your wallet.
You can localize your wallet address clicking on the extension icon in your browser, and then clicking on your wallet name with the public key to copy it to clipboard.
The private key is used by your wallet to sign each transaction and certify that it was truly sent by you. It is also used to restore your wallet in case you forget your password.
Keep in mind that a digital wallet is like a bank account, so make sure you don’t forget your password, or backup phrase. Keep them in a safe place and don’t share them with anyone.
2. How To Make A Decentraland (MANA) Paper Wallet?
Although there are ways to manually generate a private key, the vast majority of paper wallet creators use a private key generator. Once a private and public key have been created, you are able to print a paper wallet, which because it’s not online doubles as a cold storage wallet. This will include the public and private key you’ve generated, usually as both a string of characters and QR codes.
Anyone with a paper wallet’s public key can send crypto to it as often as they like. Using the corresponding private key, you can move the crypto balance of the paper wallet into a software wallet. This transfers the funds to a new private key on your software wallet.
3. Ways To Set Up a Decentraland (MANA) Wallet
There are many Decentraland (MANA) wallets out there, and all of them differ in their characteristics. Mobile software wallets are great for day-to-day use, while desktop software wallets bring about a great balance between convenience and security. Lightweight web wallets are the best choice for quick online transactions. Cold encrypted hardware wallets like Ledger or Trezor are the best for long-term storage of bitcoin. However, unlike other options, hardware wallets aren’t free and cost $50 or more.
Set up a Decentraland (MANA) Software Wallet
- Mycellium
- Bread (BRD) wallet
- Bitcoin wallet
- Electrum
- Samourai
Set up a Decentraland (MANA) Web Wallet
- Coinbase
- Blockchain.info
- BTC.com
- Rahakott
- BitGo
Set up a Decentraland (MANA) Hardware Wallet
- Ledger
- Trezor
- BitLox
- KeepKey
How to Buy and Sell Decentraland (MANA) In Different Area?
1. How to Buy and Sell Decentraland (MANA) in India?
You can get Decentraland (MANA) in India mainly through buying and mining. To buy it, you can use several online exchanges such as WazirX, Coinbase, BuyUcoin, and CoinDCX. Choosing the best online exchange is another task, but here are a few things you should keep in mind while buying the cryptocurrency in India.
- It’s best to go with an exchange that allows you to withdraw cryptocurrency in INR to your personal online wallet for safekeeping
- Make sure that the internet connection is secure. Also, don’t forget to use safe internet practices like two-factor authentication and unique and strong passwords.
- KYC aka Know Your Customer verification is a must, at least in India. For that, you can use a PAN card and valid address proof
- Now, add the bank account that is linked to your PAN card. Verification will take around 2-3 days
After the verification is complete, you can start trading Decentraland (MANA) in India. Money from your bank accounts can be transferred using NEFT, RTGS, and debit and credit cards. Currently, the value of one Bitcoin is around 27 lakh; however, you don’t have to buy a whole coin to begin investing. You can buy Bitcoin in parts, i.e. small investments for as low as Rs 500. That way, you will own a small percentage of the cryptocurrency.
2. How to Buy and Sell Decentraland (MANA) in Canada?
- Sign up and get KYC (Know-Your-Customer) verified on a Canadian crypto exchange like Bitbuy.
- Deposit CAD to the exchange directly from your bank account.
- Buy Decentraland (MANA).
- Store Decentraland (MANA) on your exchange account or transfer it to a wallet.
3. How To Buy and Sell Decentraland (MANA) In The UK?
- Create a Coinbase account.
- Complete identity verification to access fiat payment options.
- Navigate to the Accounts and select the GBP wallet.
- Fund your account using Bank Transfer or other methods.
- Once the deposit is complete, go to the Buy/Sell page and select GBP to Decentraland (MANA).
4. How To Buy Decentraland (MANA) in the United States?
The best way to buy and sell Decentraland (MANA) in the USA is through an exchange such as Coinbase, Kraken, Gemini, Coinmama, Binance, or Changelly. There is a plethora of options available, so it is best to look at each of the exchanges’ processes for deposits and withdrawals, fees, and transaction speeds to determine which is best for you.
Decentraland (MANA) History
Decentraland is a decentralized, traversable, three-dimensional (3D), virtual reality platform being built on the Ethereum blockchain. The platform focuses on the ownership of parcels of digital land where users can create unique environments in a virtual world. Content creators will be able to prove ownership of, and capture value from, their contributions to the platform. Users will be able to traverse unique areas of content, which can be clustered into districts, giving content creators targeted traffic and allow for spatial discovery of new content by users.
Currently, users gather, interact, share content, and play games primarily on large proprietary platforms like Facebook. The team believes that a decentralized model will allow participants to realize several benefits over current centralized services. Users and contributors will be able to benefit from transactions that occur on the platform, instead of allowing some or all of the revenue to flow to a single party. Furthermore, a decentralized platform will reduce the risk of censorship and vulnerabilities due to infrastructure failures or security breaches.
Decentraland uses two tokens, LAND and MANA, which allow users to interact with the platform. Individual ownership of land parcels are represented by non-fungible LAND tokens containing the coordinates of a single point on the grid and a reference to the details of each parcel. Ownership details are managed through a ledger on a smart contract. To acquire LAND users must burn ERC20 based MANA tokens. MANA tokens are also used for the purchase of in-game goods and services.
In Dec. 2017, the first LAND tokens representing parcels in the first part of the game, Genesis City, were auctioned off. In March 2018, the Decentraland Marketplace was released allowing users to buy and sell parcels (LAND) in Genesis City as well as explore the area on a map. As of May 2018, the platform was still under development. The team plans to roll out access to the Decentraland world through a variety of devices including mobile, web and virtual reality (VR) platforms.
