Today another token will be introduced in our column “What’s on weiDex”.
Say hello to MANA — the token of Decentraland.
- About the project
Decentraland is building a virtual reality platform on top of Ethereum blockchain. There you can purchase non-fungible plots of land that you can later navigate, build upon, and monetize. It is a whole new virtual world where you can build and explore 3D creations, play games, socialize, create content and applications. Decentraland lets you build anything on your plots of land.
The whole Decentraland world is divided into 90,000 parcels of LAND which can be bought and sold using Decentraland’s cryptocurrency MANA. The land you can buy is in limited supply, with each unit having an area of 33 x 33 feet, but there is no limitation to the height of whatever you build on it.
Decentraland operates on a public blockchain. The complete ownership and control of land and associated content for each user is recorded on the blockchain. Decentraland runs on decentralized servers. As a result, the game runs across a number of machines owned by its users, instead of servers owned by the Decentraland team.
To encourage centralized development within the Decentraland scrawling landscape, the team created a metropolis called Genesis City that’s roughly the size of Washington DC in square footage. It also launched a two-week long Creator Contest to encourage LAND development in February 2019. The city is also zoned like a real city, with commercial, industrial, and residential areas available.
2. What can the MKANA token be used for?
MANA is an ERC-20 token. you need MANA to purchase land in Decentraland. MANA cannot be mined, and once it’s used to purchase LAND from Decentraland, it is burned. The token has also other use cases such as to purchase goods and services within the Decentraland ecosystem. It’s also traded on the open cryptocurrency market.
website: https://decentraland.org/
whitepaper: https://decentraland.org/whitepaper.pdf
CoinMarketCap: https://coinmarketcap.com/currencies/decentraland/
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