Decentraland is an altcoin that has gained popularity over the past few years. It is a virtual space in the cryptocurrency industry that allows users to own digital real estate, artwork, and non-fungible tokens. In addition, the space grants users access to govern the projects’ affairs. The system sells and buys virtual assets using a digital currency called MANA.
The currency, MANA, is an ERC-20 token innovation relying on the Ethereum blockchain. Decentraland started in 2016 as a 2D innovation, but changing it to 3D has transformed the virtual world and attracted a large user base. The invention was a start-up project of Esteban Ordano and Ariel Meilich.
These developers created the virtual world giving access to buy, develop, create, and sell digital assets, including real estate, art, and other collectibles. MANA is the digital currency of Decentraland for exchange with other digital currencies like Bitcoin, Ether, and fiat currency. Also, MANA is used to sell collectibles in the marketplace.
What is Decentraland?
Decentaraland is a virtual reality obtained by playing virtual games on the blockchain. The space has few rules allowing users to collect or buy non-fungible tokens like real estate and art. The system has a wallet like every other digital currency where you can store your funds. These investments aim to sell items to make a profit. The system allows users to choose or own whatever they desire. They can play games, sell clothes, rent houses, and do other social activities on the blockchain. However, one needs to put effort and imagination into succeeding in this metaverse.
Now that you have little knowledge of Decentraland, the question remains, why should you invest in Decentraland in 2023? This article has seven reasons that can influence your motivation to invest in MANA. So, continue reading to understand why you should invest in Decentralized in 2023.
1. Decentraland Easy Entry Point
Many cryptocurrencies, like Bitcoin and Ethereum, require significant capital to enter. Thus, amateurs or people with low funds find it difficult to purchase such coins. The scenario is like being forced to buy a token whose future you can’t predict, unlike Decentraland, where you can purchase several units. For example, Decentraland uses a MANA token. Therefore, the Decentraland price prediction is expected to reach $0.39. In essence, you can purchase over 2560 MANA tokens for $1000. However, if the market price rises, you can expect your investment to reach $2,560, making a total of $1,560.
You can invest in small tokens worth $5 and still make a considerable profit by selling them as other coins. Even if the project faces a dip, you will not lose much. Since cryptos are volatile, it is best to invest money you can afford to lose.
2. Proven Real Use-Case
Many digital currencies start with the aim of solving real-life problems. But then, in the end, the coins are useless to real-world issues, affecting users’ appetites and leading to their downfall. Dencentraland MANA token was created to buy and sell. The system is different and has proven to be the native token of buying and selling LAND.
It has accumulated over $117,000 in LAND each week, and over $4.2 million has been circulating in the marketplace since March 2018. You can acquire, sell, and rent LAND only with a Decentraland MANA token.
3. Decentraland High Market Capitalization
Decentraland uses MANA as its currency, with a market capitalization of over $723 million. Market capital represents or predicts a cryptocurrency’s worth. The end figure is the multiplication of a single token’s current price with the coin’s total value in circulation. A coin with a higher cost has a higher market capitalization.
Furthermore, cryptos are volatile assets and can lose value at any time, depending on the market forces. For example, a big ship can withstand a tremendous storm compared to a small one in the coin market. Unlike a small-valued coin, an extensive digital coin can withstand negative market changes. In essence, the negative degrading factors of the market will have a lesser effect on the Decentraland MANA token.
4. Decentraland Corporation with Major Companies
Decentraland can be owned or created by an individual or institution. The LAND on the platform is available to everyone. However, the prices differ depending on the location and type, like in the real world. Many investors have acquired large LAND and are developing it into gaming arenas to attract more members. One of the big dogs in the industry is Atari.
5. Decentraland High Liquidity
Investors expect cryptocurrencies to rise, which is the reason for the investment. The rise is the profit from selling coins like goods and services. However, to sell crypto, you must have a willing buyer. The assets remain in your wallet or profile if you can’t find a buyer. Decentraland has a liquid market where you can trade with other buyers and sellers willing to buy or sell their assets. You can easily convert these assets into cash by calculating the trading volume. Decentraland uses a MANA token with a trading value of $200 million. This value indicates that the token is highly liquidable, making it easy to find a buyer.
6. Decentraland is Listed in Major Crypto Exchanges
Cryptocurrencies are many with different exchanges. The numerous exchanges make it hard to find reliable or secure ones. Some are already big names like Coinbase, Kraken, Binance, and Bitfinex. These exchanges have cryptos that are liquidable and viable for investment. MANA is one of the popular coins in these exchanges. The token is considered a viable token with outstanding security. You can trade the coin on Finance, Kucoin, Bit-Z, and OKEx.
7. Decentraland Freedom to Choose
Decentraland is a virtual city built on blockchain. You can trade on the system using MANA tokens. The MANA can invest, develop LAND, or visit virtual art galleries. The virtual property grows as the value of the coin increases or loses value as a real-life asset. The platform grants freedom to users to invest in whatever they want. In addition, the community has attractive business partners with contracts to award.
This virtual currency has many promising features that make it worth your time and money. Check it out to understand the values it offers.
If you love playing virtual games on blockchain, decentralized might have many opportunities for you. There are opportunities to collect many NFTs which you can sell for profit. It is built on a blockchain with benefits worth your effort in 2023.