[Delio] Coin Study with Delio: MANA, SAND
Delio, a leading crypto bank, runs a Coin Study with Delio series with the intention to spread a positive impact of crypto globalization.
Today we would like to dive into Metaverse-related cryptocurrencies: Decentraland (MANA) and Sandbox (SAND). Hope you enjoy learning about MANA and SAND, and Delio Savings products.
What is Decentraland?
Decentraland is a virtual reality and blockchain-powered technology online space. Unlike other online games, players can vote directly on games and operating policies.
Users can also store non-fungible in-game collectibles (clothes, items, and virtual real estate LAND in the game) in their virtual asset wallet and trade them with Decentraland’s currency, MANA.
Growth of Decentraland
Decentraland was launched in 2016 and has evolved from a 2D world to a large-scale 3D universe. From the time the platform was designed, Decentraland was aiming for the possibility of new use cases within the blockchain-based community.
According to the whitepaper, Decentraland can be utilized for a range of applications, including content curation, advertising, digital collectibles, and social communities.
MANA, Token of Decentraland
Transactions in Decentraland are stored in Ethereum smart contracts and employ ERC-20 token (MANA). MANA is Decentraland’s major virtual asset, which serves as a digital currency in Decentraland and also provides a voting right within the Decentraland Decentralized Autonomous Organization (DAO)
Decentralized Autonomous Organization (DAO)
Decentralized Autonomous Organization is a project that manages regulations using open-source technology. Anyone who stakes MANA or holds LAND can create or vote on the project’s proposals.
Structure of the Sandbox
Sandbox enables players to create, purchase, and sell digital assets within a blockchain-based virtual world (Metaverse) while also merging NFT and DAO (Decentralized Autonomous Organization) to develop and operate a decentralized game platform.
Owning 166,464 digital real estate in the form of NFTs empowers users to build experiences on virtual real estate. Users can stake and trade SAND, the native Sandbox currency.
What’s in Sandbox?
The Sandbox consists of three main sections. ‘VOXEDIT’ allows users to build voxel goods and characters, ‘Marketplace’ enables things to be traded directly, and ‘Game Maker’ allows users to make games utilizing items.
The Sandbox Token Economy
The sandbox employs a variety of tokens, including SAND, LAND, ASSET, CATALYST, and GEMS. Among them, SAND and LAND are the key tokens in control of cryptocurrency and real estate in the Metaverse. To utilize the SAND token, the user must become a game maker first. and then obtain GEMS by staking SAND or engaging in governance and event hosting.
Delio MANA/SAND Savings Products
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