What is Decentraland (MANA)?

The Ethereum blockchain-based virtual reality platform Decentraland (MANA) enables users to create, discover, and monetize virtual experiences like games, artwork, and social interactions. With the help of Decentraland, users will be able to access a decentralised, user-owned virtual world where they will have complete control over their intangible property and can take part in an exciting and realistic virtual economy.

The History of Decentraland

In August 2017, Ari Meilich and Esteban Ordano released Decentraland as an initial coin offering (ICO). In its ICO, it raised more than $25 million, and in February 2020 it debuted its virtual world. The MANA cryptocurrency, which is used for a variety of transactions and interactions within the virtual world, powers Decentraland.

The Use Case of Decentraland

The purpose of Decentraland is to offer a decentralised platform for virtual reality that will enable users to build and own virtual assets, take part in virtual economies, and carry out social activities. Using Decentraland's SDK (Software Development Kit), users can create and monetize virtual experiences, games, and applications in addition to buying, selling, and trading virtual land.

Decentraland also gives creators, developers, and businesspeople the chance to market their work, launch ventures, and profit from the online economy. Decentraland's native cryptocurrency, MANA, is used for a variety of transactions, including buying virtual property, trading virtual goods, and taking part in virtual activities.