Inside Decentraland (Mana): Navigating the Ethereum-Powered Metaverse 2024

Decentraland is a virtual reality platform built on the Ethereum blockchain. Users may develop, engage with, and monetize content and apps. In Decentraland, the community owns the land completely and has complete authority over their work. The land is a non-fungible, transferrable, and scarce digital asset stored in an Ethereum smart contract. It can be acquired by spending an ERC20 token called MANA. MANA can also be used to make in-world purchases of digital goods and services.

Decentralization differs from other virtual worlds and social networks in that it is not managed by a centralized organization. No one agent has the authority to change the software’s rules, the land’s contents, the value of the money, or the ability to bar others from entering the world. Today, more centralized solutions can work, but they come at the sacrifice of interoperability, privacy, and standardization. Decentraland aims to transform Internet commerce by enabling low-cost direct payments between content authors and customers. So one can say that decentralization is true to its name, that is, decentralized land.


The Decentraland Foundation sells these additional tokens to fund continuing operations. MANA has a total supply of 2.2 billion MANA. Although the maximum supply is not specified as of May 28, 2024, its circulating supply is given to be around 1.9 billion MANA. Decentraland has a market cap of around $865 million and a fully diluted market cap of approximately $993 million, just a few million shy of 1 billion USD


Decentraland Token Distribution

Initial Token MANA: 40% will go to the crowd sale (ICO), 20% to the Decentraland Foundation, 20% to the team and early contributors, and 20% to the community and partners. 

Token Supply: 2.2 billion MANA tokens were first issued. The token supply grows over time, beginning with an 8% rise in the first year, then reducing to 6.06% by year 5 and 4.65% by year 10.

Investment Rounds: Decentraland raised $25.5 million in its initial coin offering (ICO) in August 2017, followed by a further 500 thousand dollars in an October 2018 investment round.

Token Burning: The Decentraland platform requires a 2.5% token burn on all transactions conducted on the Decentraland marketplace. Furthermore, the more LAND players buy, the more MANA the project uses.

Price Analysis

The price of Decentraland’s native token, MANA, is impacted by larger crypto market developments. Bullish cryptocurrency movements, particularly those connected to blockchain-based platforms and virtual reality initiatives, can have a beneficial influence on MANA’s price.

As of May 28, 2024, the current price of Decentraland (MANA) is $0.4716, and the 24-hour trading volume is $56,980,427.28. This implies a price increase of 5.68% in the previous 24 hours. MANA’s all-time high (ATH) is $5.85, set on November 25, 2021. The all-time low (ATL) is $0.00923681, which was achieved on October 31, 2017. In the previous 7 days, Decentraland (MANA) has underperformed the global cryptocurrency market, with a price decrease of -2.10% vs. the market’s -1.10% decline.

Price Prediction

Short-term prediction (2024): CoinCodex thinks MANA will hit $0.497124 by June 2024, up 10% from its current price. AMBCrypto expects that MANA will trade between $0.74 and $1.11 in 2024, with an average price of $0.92.

 Long-Term Prediction (2025–2030): AMBCrypto predicts MANA will reach $1.53-2.29 in 2025, with an average of $1.91. By 2026, MANA is predicted to trade between $3.14 and $4.71, with an average price of $3.92. AMBCrypto and DigitalCoinPrice forecast MANA might reach $56.04 to $84.06 by 2030. 

Examining all the indicators, together with the technical analysis of price charts, can help one understand Decentraland’s price changes. MANA’s price, like that of all cryptocurrencies, may be irregular and unstable, so it must be known that nothing in the crypto world is certain.

Exchange Listings

Below are the exchange listings where you can find the coin:


Road Map

 According to the Decentraland plan, some of the important forthcoming milestones include:

  • Development of a new robust desktop client that will take Decentraland to the next level while setting the foundations for future expansion.
  • Launch of an Ambassador Programme to Engage the Community
  • Various supporting apps for the Decentraland ecosystem have been released.
  • Implementation of real-world trading capabilities. 

The roadmap is organized on Trello, with developments labeled LIVE, SOON, NEXT, and LATER to keep the community updated on the project’s progress. The Decentraland Foundation also posts quarterly updates on its blog, describing the team’s activities and intentions for the upcoming quarter. While the specific timetable is not mentioned, the roadmap shows that Decentraland is actively striving to enhance the platform’s capabilities, engage the community, and build the framework for future development and acceptance.

Recent Events

Decentraland has hosted the Decentraland Game Expo from June 26th to 29th. Decentraland has hosted its Art Week ’24 from March 26 to March 29. The event was a celebration of the limitless creativity that exists within the virtual world of Decentraland, where art goes beyond the digital realm. 

Decentraland has concluded its Wellness Week with a community giveaway, which was finished on January 29th at midnight UTC. Ten community members were randomly selected to receive a prize of 200 MANA.

Final Thought’s

 Decentraland is a distributed platform for a shared virtual world that enables developers to build and monetize applications on top of it. The scarcity of land, on top of which applications can be built, creates hubs that capture user attention, which drives revenue for content creators. MANA tokens will be used to purchase land, goods, and services in the world.

MANA tokens will also be used to incentivize content creation and user adoption, therefore bootstrapping the first decentralized virtual world. This does seem quite enticing and captivating, and it most certainly is. There are so many reasons why one can invest in this, although, like always, caution must be taken when engaging with any kind of cryptocurrency, as one can never be too careful.

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