What is Decentraland (MANA) ?

Decentraland MANA Official Logo
Decentraland MANA Official Logo

MANA is the digital asset token used to pay for goods and services in Decentraland. Decentraland is a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications. Land in Decentraland is permanently owned by the community, giving them full control over their creations. It can be acquired by spending an ERC20 token called MANA. It is built on Ethereum in accordance with the ERC20 standard for tokens. MANA can be bought and sold for fiat currency or other digital currencies. MANA can be stored in a crypto wallet and custodian like Gemini. Decentraland has a virtual economy where users can engage in a myriad of in-world economic transactions as well as monetize the content and applications they build. The marginal cost of running applications on Decentraland for developers, given a market of incentivized servers to provide the infrastructure, approaches its real cost as this becomes essentially commoditized. However, in order to have no barrier to entry for incoming developers, Decentraland will subsidize these services with the proceeds of selling MANA tokens.

Original author – Esteban Ordano
Initial release – 20 February 2020
Development status – Active
Website – decentraland.org

Leave a comment

Your email address will not be published. Required fields are marked *