Decentraland (CCC:MANA) is down slightly in trading today after notching an all-time high of $0.447 yesterday. MANA is down 5% in the past 24 hours, but .
MANA appears to be another beneficiary of the market mania surrounding non-fungible tokens (NFTs), a cryptoasset class primarily used for digital collectibles at the moment. Tokens associated with and other NFTs were .
MANA is one of two Decentraland NFTs associated with the virtual reality platform, essentially a digital world users can explore with their own humanoid avatars. Readers who are familiar with massively multiplayer online role playing games (MMORPGs) already have .
Built on the Ethereum (CCC:ETH-USD
) blockchain, the MANA token is the primary currency for transactions in Decentraland. MANA can be , an NFT token that represents virtual real estate in Decentraland.
Users who own LAND can then build on their property in the virtual world and/or . MANA can also be exchanged for NFTs in the form of digital wearables for your avatar or interactive widgets to decorate your LAND.
Decentraland is governed by a decentralized autonomous organization (DAO), a such as the issuance of new MANA tokens and rules governing LAND. Combined with the blockchain nature of the network, which means no central entity can shut down Decentraland, these platform decisions serve to emphasize user autonomy.
Various cryptocurrency analysts have on MANA, which has . One of the was a , giving a sense of the potential interest in Decentraland NFTs.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.
