Decentraland (MANA)

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Decentraland (MANA)
Key People Esteban Ordano, Tech Lead
Twitter @decentraland
Facebook Page

Decentraland is a platform for developing and launching virtual reality dapps. MANA is its native cryptocurrency based on ERC-20 Tokens.

Decentraland provides a platform for users to create decentralized virtual businesses. MANA are used initially to buy space in Decentraland and then to pay for goods and services to support a business in, for example, virtual entertainment built on the purchased virtual space.[1]

As of October 4, 2019, MANA was trading at $.03 and, with more than a billion MANA outstanding had a market capitalization of $32 million, according to CoinMarket Cap, an online cryptocurrency data aggregator and reporting service.[2]

Decentraland has also become a platform for creating and trading NFTs. Coca-Cola partnered with avatar developer Tafi to create 'virtual wearables' with the Coca-Cola brand as NFTs to be distributed to in-game users starting on July 30th, 2021 for the next 92 hours. Decentraland was also used for the world's first virtual live music festival on July 11th, 2021. The festival was the project of NFT marketplace KnownOrigin, NFT agency BEAR NFT, and the Illumino NFT collective. The event was run on Ethereum technology.[3] [4]