Where Decentraland’s MANA is Accepted Locally and Globally
The MANA token powers the economy of Decentraland, a virtual world. While it’s mostly used by gamers and denizens of Zuckerberg & Co’s metaverse to buy digital real estate and in-game goodies, it also functions as a commerce coin here in legacy reality. Over 300 real-world businesses, from an IT shop in Naples, Italy to Essential Oil Wizardry in Oregon, accept it as payment.
Who accepts Decentraland’s MANA…
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Should you buy MANA?
Buying (or accepting payment in) MANA is not as crazy an idea as it might seem. MANA experienced tremendous price growth after Facebook’s rebranding into Meta, it hit a high of $5 and has since maintained a respectable token price well above $1. MANA is indisputably the largest metaverse-related cryptocurrency, having attained a top 40 CoinMarketCap ranking. Does all this talk about “the metaverse” and polygonal animated virtual worlds make you roll your eyes?
- Decentraland is the most popular virtual real estate destination. Upon its launch, all 90,000 land plots were purchased — each plot of virtual real estate is an indivisible non-fungible token running on the Ethereum blockchain.
- It’s a lively place with virtual concerts, art galleries, and even conferences — in 2020 the BlockDown crypto conference skirted COVID lockdowns by actually holding the conference virtually in Decentraland.
- Shockingly, the largest purchase of virtual real estate was for the equivalent of over $2 million.
MANA’s has surprisingly solid tokenomics and appears poised to rise with the trends of gaming, virtual socializing, and NFTs.
While Decentraland’s MANA has experienced a meteoric rise to prominence in a short time, it remains to prove whether it will go the way of The Sims or Second Life, two games it is often compared with. The Sims has had remarkable staying power, it’s been popular for over 20 years now in contrast to Second Life, the original virtual world that never quite reached its grand potential was eventually surpassed by more innovative games. Why think twice about sinking your life savings into MANA or a Decentraland real estate investment…
- There are only about 1000 active daily users which makes its +$3 billion market capitalization look a bit inflated.
- Currently, it’s browser-based which limits the awesomeness of the graphics and gameplay. Decentraland has got a ways to go to become a sci-fi virtual reality world.
- It would seem that its founders, Ariel Meilich and Esteban Ordano, are no longer active in leading the project.
- A lot of Decentraland’s economy revolves around virtual casinos sitting on prime real estate. And this could be a big regulation issue as online gambling is still illegal in the United States.
Decentraland is ostensibly community-owned and run by a DAO. But I did some cyber sleuthing and discovered that it’s associated with Metaverse Holdings Inc based in the British Virgin Islands.
The virtual destination for digital assets
Buy and sell LAND, Estates, Avatar wearables and names in the Decentraland Marketplace: stocking the very best digital goods and paraphernalia backed by the ethereum blockchain.