This is one part in a series focusing on lesser known coins that have interesting value opportunities.
Decentraland (MANA) is a non-mineable coin that is the token for a virtual reality world. In this virtual world users can purchase plots of land, build and monetize what they build. Similar to games like Fallout, Decentraland is an all-immersive virtual universe. However, instead of playing on a two-dimensional screen, you participate in a three-dimensional world.
In Decentraland, the spaces that you interact with are LAND, non-fungible digital assets that you purchase in the game. Once you own a plot of LAND, you’re free to do with it as you choose. You can create games, applications, gambling services, or even dynamic 3D scenes. But, why stop there? Although not its primary purpose, you can also create LAND-based services around education, professional development, tourism, etc.
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The number of LAND is capped, and each plot of LAND is 33 feet by 33 feet, but there’s no limit to its height.
Here is the description from the team:
There are plenty of opportunities to explore or even create your own piece of the universe. Here, you can purchase land through the Ethereum blockchain, creating an immutable record of ownership. No one can limit what you build.With full control over your land, you can create unique experiences unlike anything in existence.
Decentraland (MANA) has created a regular, fluctuating virtial real estate market. When you buy LAND, Decentraland burns the MANA that you purchase it with. The Decentraland team originally sold each plot of LAND for 1000 MANA. Now that there’s a secondary market, though, the LAND prices vary. Currently, the cheapest plot of LAND is 11,750 MANA while more popular areas have price tags in the millions. The highest selling plot went for 2,000,000 MANA, or $175,578, in March 2018. This was quite a bit of money for a virtual plot of land and left the seller with a nice profit.
Because the only use for MANA, right now, is to purchase LAND, it’s hard to predict what will affect the price. An increase in demand for LAND may only lead to a rise in the amount of MANA you need to purchase some – not a rise in the MANA value itself. The MANA price should increase, though, as you become able to buy more things with it.