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What is Decentraland all about
The expansion of the realm of possibilities of blockchain has seen projects like Decentraland come to light. This project is a virtual world and community based on the technology where users develop and own plots of land, artwork, and Non-Fungible Tokens (NFTs). Members also participate in the platform’s Decentralized Autonomous Organization (DAO).
The project has created a virtual space containing digital real estate parcels, items, and other customizable assets. The idea being that these items are purchasable using MANA, Decentraland’s ERC-20 token. While it may be seen more like a game than anything else, it has similarities to the popular simulator, Second Life.
The rules of the game are however made in a decentralized manner and this happens through the DAO which allows token holders to vote directly on in-game and organizational policies. This mechanism affects everything, from the types of items allowed to investments for the DAO’s treasury.
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MANA Questions & Answers
What is the current price of Decentraland?
Currently, the price of Decentraland is 3.29 EUR.
What was Decentraland's highest price?
The price of Decentraland peaked on 2021-11-25, when it was at 5.21 EUR.
What will Decentraland cost half year from now?
Accurate long term forecast is very difficult, however based on our price prediction algorithm we suspect that the price of Decentraland will reach anywhere between €1.46 and €3.67 6 months from now.
How popular is Decentraland among social media users?
0 Reddit users took part in an online discussion on Reddit about Decentraland in the last 2 days. The official Decentraland Twitter account is currently followed by 0 users.
What is the price of Decentraland going to be next month?
In accordance with our prediction algorithm, we estimate that the cost of Decentraland will be anywhere between €1.46 and €2.62 next month.
How much will Decentraland cost in 90 days?
On the basis of our prediction we suspect that the cost of Decentraland will reach between €1.46 and €2.97 90 days from now.
What is the Decentraland DAO?
The DAO is what helps in maintaining true decentralization. The DAO uses open-source code to regulate its rules. Anyone who has staked their MANA or owns LAND can both create and vote on proposals.
What are some key use cases for Decentraland?
The team behind the project has outlined some major use cases along the way. Applications; Content Curation; Advertising; Digital Collectibles and Social interactions all fall under its umbrella.
Who created Decentraland?
The Decentraland Foundation, the organization behind the development of the Decentraland software, was founded by Esteban Ordano and Ariel Meilich in 2015.
What are LAND and MANA?
MANA is a token in decentraland that is used for purchasing and also provides each MANA holder with voting power in the Decentraland DAO.Meanwhile, LAND is a non-fungible token that represents the plots of land owned by players in the community.