Decentraland (MANA) is a virtual reality platform built on the Ethereum blockchain by Ariel Meilich and Esteban Ordano in 2017, where users produce virtual reality content and applications and earn income from these contents.
💰 The Decentraland platform has two separate tokens, MANA and LAND. MANA is an ERC-20 standard token and is used for burning the ERC-721 standard LAND token on the platform.
ℹ️ The Decentraland platform was created for content producers and those who want to experience the virtual world. In the universe called Metaverse created on the Decentraland platform, it is divided into 90,601 parcels, each of which is represented by a LAND with an area of 100 square meters. People can buy space from here and produce their own content or applications in this virtual universe.
As of April 20, when this article was written, the circulating supply will be 1,578,089,513 MANA and the maximum supply will be 2,194,460,127 MANA.
MANA’s lowest price to date has been $0.32 (October 13, 2017) and the highest price has been $10.64 (April 17, 2021).
How ecentraland (MANA) works
The 3D, navigable and limited area of the Decentraland virtual world is called LAND. LAND is a unique digital asset (NFT) generated as a smart contract on the Ethereum blockchain in ERC721 format. Just like in the real world, the world of Decentraland is also parceled out. These parcels can be purchased with Decentraland’s digital asset MANA. Users can develop applications in the areas they have purchased.
MANA is the ERC20-based digital asset of the Decentraland platform. MANA can be used to buy or spend LAND parcels. You can pay with MANA to customize your virtual character you created in the Decentraland virtual world or to buy accessories and items for your character. If you are a software developer, you can produce your own products and accessories and sell them to Decentraland users.
In your Web 3.0 supported Chrome or Firefox web browser, you can create your own virtual character by logging into the world of Decentraland with the browser-based Metamask wallet or the web-based Fortmatic wallet, and take a tour in the Decentraland world. By purchasing more parcels you can transform them into themed communities or regions.
Visual, audio and 3D content used in the Decentraland virtual reality world are stored on web servers. Anyone who wishes can add a web server to the Decentraland network. However, these servers are accepted by the community by voting. This process is controlled by the decentralized autonomous organization (DAO).
How to store Decentraland (MANA)?
ERC20-based Decentraland (MANA) can be stored in Ethereum wallets that support ERC20 assets. BtcTurk | You can use Ethereum wallets that support ERC20 to deposit and withdraw MANA from your PRO account.
You can use browser-based Ethereum wallets to manage your MANA balance. You can deposit and withdraw MANA with Web3.0 browser plug-in wallets (Metamask etc.), desktop, web, mobile or online wallets. MANA can also be stored in hardware wallets that support the Ethereum (ETH) network. Decentraland currently supports the browser-based Metamask wallet, the Fortmatic web-based wallet, and the Ledger hardware wallet.
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