MANA icon Decentraland price (MANA)

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What is Ethereum?

Decentraland is a blockchain-based online game where you can walk around in a virtual world. The world is owned by players in the form of pieces of land that they control and can build on. Items in the game can be created and traded as NFT. The cryptocurrency used for this purpose is MANA.

Blockchain

Decentraland is built on Ethereums blockchain is a decentralised 3D and virtual reality platform.

Since 2015

The development of Decentraland began in 2015. As a proof of concept, digital estate was rendered as 2d landscape.

LAND

LAND tokens represent the pieces of land in the game. These LAND tokens are tradable in Decentraland's marketplace.

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More info about the price of Decentraland

Token sale in 2017

In 2017, Decentraland held its first token sale. The token sale goal was reached in 35 seconds thanks to big investors. $25 million worth of Ethereum was raised (86,260 ETH at the time). After the token sale, 2.81 billion MANA tokens were created. Investors received 40% of these. Through a discount system, every 1,000 MANA tokens were sold at a MANA rate between $0.024 and $0.04 per MANA token.

20% of supply to development team

In 2017, the development team, the Decentraland Foundation and a community reserve received 20% of the total MANA tokens after the first token sale. This was 561.2 million MANA tokens.

Continuous token model

Decentraland (MANA) uses a continuous token model, meaning that new tokens are released continuously. In the first year, the supply increased by 8%. The percentage decreases every year to create scarcity. After 5 years, it increases by 6.06% and in 10 years by 4.65%. The additional tokens are sold through a smart contract. The MANA rate at which the new tokens are sold can be updated by the Decentraland foundation.

All-time high

An all-time high was reached on 25 November 2021. At that time, the Decentraland exchange rate reached $5.90 per MANA. At the time of writing, the price is 94.46% away from its all-time high. Indeed, you can currently buy a MANA token at a rate of $0.32 per MANA token.

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