Want to Jump in on Decentraland? Here is What You Need to Know
Decentraland is a fully decentralized 3D virtual world where people can own, develop, and sell their own virtual land while also exploring other people’s land and buildings.
The virtual plots of land can contain anything from static objects to interactive displays, games, music and video players, art, and even social events and whatever the imagination can cook up.
Development began back in 2015 as a concept and went live in 2020. Shortly after, celebrities, large companies, and famous brands jumped in on the chance to buy up plots before they disappeared.
What to know about Decentraland
The world is divided into parcels. Each parcel is 16 meters by 16 meters, the smallest you can own.
If you own several adjacent parcels, you can combine them into an estate. Districts consist of parcels with similar themes, and plazas are untradable; the community holds pieces of land that act as hubs.
Every land token is considered a non-fungible token (NFT), and so it is unique and cannot be replicated. Parcels of land can be traded on the Decentraland marketplace, along with wearables and even names, all of which can be created and modified using the non-technical Decentraland Builder.
The Decentraland currency:
Parcels, names, and wearables can be purchased using MANA, the official Decentraland token.
MANA is the currency of Decentraland that players can use to buy goods and engage in activities like ticket purchases and gambling. It is also a cryptocurrency in its own right. It is an ERC20 token based on the Ethereum blockchain, and as of the writing of this article, it is worth around 3.2 dollars, having risen sharply since the 28th of October 2021.
MANA holders also hold the privilege of voting on specific issues in Decentraland. These include changes to land parameters, approval of wearable NFT collections, and marketplace fees. Holders can also vote on the approval of catalyst nodes that run the servers that host Decentraland.
You don’t have to play the game to earn mana; you can purchase it like any other cryptocurrency using any Ethereum compatible wallet.
Although this is not financial advice, it would not hurt to have a few hundred MANA tokens in your wallet if Decentraland becomes the new Roblox for adults. Although the same can be said for any Metaverse platform, game or token, always do heavy research before deciding.