Metaverse tokens have witnessed skyrocketing pumps in the last 48 hours following Facebook’s announcement of it rebrand to Meta, as the Tech Company channels its focus from social media to the virtual ecosystem.
At time of writing this article metaverse tokens are feeling the impact of that announcement as Decentraland (MANA) is 138% up, Whilst The Sandbox(SAND) is up 75%.
In this article, my focus will obviously be Decentraland (MANA) token. But prio talking about the 5 things you should know about the coin before you invest in the token, here’s something I found interesting about the coin.
Someone asked this question on quora ” Is Mana coin a good investment ? What are the price prediction of mana coin”
Kumit Kumar brilliantly answered that question by writing the below
“Yes it is a good idea to invest in Mana coin. But right now the price of the Mana is very high. The price of all crypto coins are high. So at this time I will not ask you to invest in the crypto market. You can wait a bit. And keep an eye on the market. Corona cases are growing and Lock down can be found all over the country at any time. And when this happens, the price of coins will also be down. Only then you can invest. And get good returns. Current price of Mana coin is $1.14. Price predictions of Mana coin In 2022 : $2. Price predictions of Mana coin In 2023 : $2.5. Price predictions of Mana coin In 2024 : $3. Price predictions of Mana coin In 2025 : $4. Yes, if the coin performs well then only you can get to see this data. And you have a long-term coin”
The most striking thing about his post is the price prediction. Mind you, the post was published 6 months ago. MANA reached the four years price prediction in just 6 months. This tells you there’s is something in there.
Here are the 5 things you must know before you invest in Mana
1. What is Decentraland (MANA)
Decentraland (MANA) is a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.
To further simplify this definition of decentraland (MANA) is an application on the internet which generates imitations of what is in real life. This imitations of real life allows users to produce or buy things, experience things by using special electronic equipments and monetize these things. The ‘things’ I’m referring to here are plots of land.
If you don’t fully understand it, think about it as an electronic game. Where you can actually pay or be paid real money for participating.
2. People Behind Decentraland (Mana)
Decentraland was co-founded by Ariel Meilich and Esteban Ordano. You can google them up. They however have stepped down from important positions at the Decentraland project. They still serve on advisory position at Decentraland.
Ariel Meilich is a business man that has founded several businesses, including an online translation agency and a customer relationship management (CRM) platform. At a point, He worked as an analyst at Charles River Ventures, a venture capital company based in sillicon valley.
Esteban Ordano is a software engineer. He worked at BitPay. He is also an advisor to Matic Network. Esteban has a long history of excellent achievements in the crypo currency space. He at some point launched and operated his own smart contract company, which he called SMART CONTRACT SOLUTION
Even as these accomplished men are no longer leading the project, the development of Decentraland is still progressing well.
3 The uniqueness of Decentraland
Decentraland is built for content creators (creative people), businesses and individuals that are looking for a new artistic medium, business opportunity, or source of entertainment.
Besides being a creative outlet, many Decentraland users currently make money by leasing their LAND , advertising and paid experiences. Others generate income by creating and selling items on the Decentraland marketplace for MANA tokens. A more detailed explanation is found on coin market cap.
4. How secure is Decentraland
MANA is an ERC-20 token. What this means is that, It is based on the Ethereum blockchain.
Ethereum is currently being secured by a large decentralized network of miners, that work together with thousands of nodes to ensure the Ethereum blockchain—and hence the MANA tokens—is protected against cyber attacks. Ethereum is currently the most widely used network for crypto tokens that don’t have their own native blockchain. Thus, MANA is very secure.
Where can you buy MANA
You can buy MANA in centralized exchanges like Binance, OkEx, Coinbase. Head to coin market to get a full info on where and how you can buy this token.
Investing in MANA, a long term, is a good idea. Because, the metaverse will increasingly become mainstream as years go by. If you however, are in crypto for the quick gain. This token might not be what you are looking for.