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What is the digital mana currency, its project and features

 


What is the digital mana currency, its project and features

The MANA coin or Mana coin is a virtual reality platform that runs on the decentralized blockchain of the Ethereum network. It gives users the ability to create, experiment and monetize decentralized content and applications.

This virtual world includes a large plot of land in which users can build anything. They can also earn money by renting out their land for mana.

 The Decentraland platform was launched after an initial coin offering (ICO) of $24 million in 2017. This is a way to fund a blockchain project by selling tokens to investors.

The closed beta of the virtual world was launched in 2019 and opened to the public in February 2020. Since then, users have created a wide variety of experiences on their accounts.

Decentraland uses two cryptocurrencies: MANA and LAND.

MANA is a coin that operates on the ERC-20 network. It must be burned to get the “LAND” coin. LAND operates on the ERC-721 network.

MANA can also be used as a payment method in the Decentraland market. This market hosts a range of avatars, wearables, names, and items.

Founders of Decentraland

Decentraland is co-founded by Ariel Milich and Esteban Ordano. Both have resigned from key positions on the project, but continue to work alongside Decentraland as consultants.

Previously, Ariel Milic was a project lead at Decentraland between 2017 and 2020, where he oversaw the development of the initial platform. Ariel was also an entrepreneur who founded several other startups, including an online translation agency and a CRM platform. He also worked as an analyst at Charles River Ventures, a prominent Silicon Valley venture fund.

On the other hand, Esteban Ordano is a former technology pioneer in Decentraland who has a long and diversified history in the cryptocurrency space as a software engineer at BitPay Inc. He was a consultant to Matic Network and for a while ran his own smart contract development company known as Smart Contract Solutions.

Ordano is also credited with co-founding Zeppelin Solutions, a blockchain technology infrastructure company.

Ariel and Estaban are no longer leading the project, but the development of Decentraland continues, with the efforts of the newly created Decentraland Foundation.

What makes Decentraland a blockchain-based platform for creating virtual reality experiences and interactive applications. Decentraland allows users to own, visit and market virtual real estate via mana in a blockchain-based digital landscape.

Decentraland is a social network that allows gamers, artists, entrepreneurs and enthusiasts to create, manage and distribute digital content.

gaming world – called & ldquo; Metaverse & rdquo; & – Divided into 90,601 individual LAND coins, each represented by a non-exchangeable ERC-721 coin.

Although LAND coin holders are free to develop their plot of land for whatever they choose, much of the Metaverse is broadly divided into several regions, each with a different size and theme.

These territories were created by selling MANA tokens, and LAND tokens cannot be traded in these territories.

Decentralized Autonomous Organizations (DAOs) are autonomous organizations governed by the people who use and support them. Decentraland is a DAO that integrates the virtual world of virtual reality into its management structure, ensuring that users have a say in how the project will evolve.

As a result, MANA holders control how Mana behaves, by suggesting and voting on policy updates, the characteristics of upcoming land auctions, and the types of content that can be created on the Metaverse.

Decentralized investors are also turning their virtual lands into profit. Many land owners rent out their properties to users who are looking for a place to live or host a business. Others lease their land for advertising purposes. Finally, some investors are seeking to make a living by providing users with paid experiences, such as hosting concerts on their land.

Similarly, other users earn income by creating items and selling them on the Decentraland marketplace in exchange for MANA currency.

If you want to buy MANA coins, the top crypto exchanges where MANA is presently available are Binance, OKEx, Tokocrypto, Huobi Global and CoinTiger currently.

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