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Decentraland Growth: MANA-USD Is The Hot Crypto Of The Metaverse


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 2 years ago '19        #1
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Guappenheimer  topics gone triple plat - Number 1 spot x54
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icon Decentraland Growth: MANA-USD Is The Hot Crypto Of The Metaverse
 

 
Metaverse altcoin Decentraland (CCC:MANA-USD) went over an all-time high of $5.90 in late November. However, MANA-USD has failed to continue the rally and slumped more than 25% since that peak.


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Despite the recent decline, MANA has returned about 60% in the last 30 days and currently trades at $3.89. With a market capitalization of over $7 billion, the digital currency ranks among the top 40 names in the vast universe of cryptos.

Launched in 2017 and opened to the public in 2020, Decentraland is a blockchain-based decentralized 3-D virtual reality platform where its community can buy and sell land through “non-fungible, tr@nsferrable, scarce digital asset stored in Ethereum smart contract.” MANA-USD is the Ethereum(CCC:ETH-USD)-based limited-supply token used to acquire non-fungible tokens (NFTs) on the platform.

MANA is backed by companies like CoinFund, Genesis One Capital, and Animoca Brands. Moreover, Grayscale Investments oversees the Decentraland Trust that holds over $65 million worth of assets.

Earlier in the year, MANA-USD first caught the attention of NFT enthusiasts. But after the rebranding of Facebook to Meta Platforms (NASDAQ:FB) in late October, Decentraland entered a new reality. Now, the metaverse bulls wonder what could be next for the altcoin. Let’s take a look.

From NFTs to the Metaverse
Recent research by Michael Dowling of the DCU Business School in Dublin, Ireland, highlights that Decentraland exemplifies “the growth of non-fungible tokens (NFT). An NFT is a blockchain-recorded right to a digital asset … Decentraland is one of a new generation of virtual world, popularly referred to as metaverses, built on the blockchain.”

Virtual spaces, where users share and interact in 3D via digital avatars, are gaining broader acceptance since the pandemic. As such, Decentraland claims to be more than just an online social gaming platform. It even has a decentralized autonomous organizational structure (DAO) for governance decisions.

Metaverse Group, a real estate company and a subsidiary of Tokens.com, (OTCMKTS:SMURF) recently bought a virtual plot of land located in the heart of Decentraland’s Fashion District for 618,000 MANA. The firm allegedly paid twice the asking price for the digital real estate. The Metaverse Group also committed to collaborate with Decentraland to “develop the estate for fashion shows and commerce.”

Meanwhile, with an increasing number of people getting socialized digitally, virtual events are also becoming a new normal. From Oct. 21 through 24, Decentraland hosted “Metaverse Festival,” a four-day virtual music festival which welcomed 80 artists.

Amid the hyper-growth of metaverse projects, metaverse-themed tokens have also increased in popularity. For example, MANA soared around 4,800% year-to-date (YTD).

By comparison, so far this year, other metaverse coins Axie Infinity (CCC:AXS-USD), The Sandbox (CCC:SAND-USD), and Enjin Coin (CCC:ENJ-USD) have gained about 19,900%, 15,000%, and 2,000%, respectively. Meanwhile, major cryptos Bitcoin (CCC:BTC-USD), Ethereum, and Binance Coin (CCC:BNB-USD) are up 76% YTD, 486% YTD, and 1,458% YTD, respectively.

The Bottom Line on Decentraland
Calculating the intrinsic value of a digital asset is not easy. Though there are a couple of valuation techniques, none are widely-accepted as of yet. In the world of crypto, investing on “fear of missing out” (FOMO) seems to play a key role behind traders’ decisions.

For example, MANA and other metaverse tokens have suddenly become a trending topic and rallied thanks to Meta Platforms. Hype-driven investors interpreted the name change as a sign of greater acceptance of the metaverse concept. Then on Nov. 24, a mysterious whale tr@nsferred 9 million MANA tokens, worth over $47 million, to another anonymous account. That tr@nsaction helped MANA hit record highs.

Long story short, cryptocurrencies will remain vulnerable to speculative movements in the months ahead. MANA-USD is as choppy as it is attractive. Thus, risk-tolerant investors who seek profits in the metaverse revolution could consider investing at the current levels, allocating a small part of their portfolio.

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Last edited by Guappenheimer; 12-07-2021 at 03:18 PM..
+16   



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17 comments

 2 years ago '05        #2
Ad1288 
Props total: 1232 1 K  Slaps total: 58 58
Source? Is this a Seeking Alpha article?
+2   

 2 years ago '19        #3
Guappenheimer  topics gone triple plat - Number 1 spot x54 OP
Props total: 62582 62 K  Slaps total: 12628 12 K
 Ad1288 said 🔗
Source? Is this a Seeking Alpha article?
↪🔗

emoji
+4   

 2 years ago '19        #4
aaf192020  topics gone triple plat - Number 1 spot x5
Props total: 144430 144 K  Slaps total: 17448 17 K
I'm invested long-term with MANA so hopefully the future is bright. I buy as much as I can when I can. It's been the best performer of my initial crypto investments: MANA, BAT, and LRC.
+6   

 2 years ago '21        #5
nocomment  topics gone triple plat - Number 1 spot x16
Props total: 45816 45 K  Slaps total: 6361 6 K
 Ad1288 said 🔗
Source? Is this a Seeking Alpha article?
this is why I ignore most of his post he doesn't put sources and when he does his sources many times tend to not be from the crypto space so its just words and catch phrases
+2   

 2 years ago '19        #6
Guappenheimer  topics gone triple plat - Number 1 spot x54 OP
Props total: 62582 62 K  Slaps total: 12628 12 K
 nocomment said 🔗
this is why I ignore most of his post he doesn't put sources and when he does his sources many times tend to not be from the crypto space so its just words and catch phrases
For somebody that ignores my post I see you in my threads a lot
+4   

 2 years ago '21        #7
nocomment  topics gone triple plat - Number 1 spot x16
Props total: 45816 45 K  Slaps total: 6361 6 K
 The Dogefather said 🔗
For somebody that ignores my post I see you in my threads a lot
no you don't
-1   

 2 years ago '06        #8
snaxxx 
Props total: 11759 11 K  Slaps total: 1848 1 K
I bought it at 1 something awhile back… I should’ve never sold
+2   

 2 years ago '17        #9
Its 
Props total: 65895 65 K  Slaps total: 5198 5 K
I want in on mana, but I'm in like 6 coins already
+2   

 2 years ago '19        #10
Guappenheimer  topics gone triple plat - Number 1 spot x54 OP
Props total: 62582 62 K  Slaps total: 12628 12 K
 Its said 🔗
I want in on mana, but I'm in like 6 coins already
Which ones?
+1   

 2 years ago '17        #11
Its 
Props total: 65895 65 K  Slaps total: 5198 5 K
 The Dogefather said 🔗
Which ones?
Cro
Saitama
Btc
Matic
Eth
Doge
Shib
+2   

 2 years ago '19        #12
Guappenheimer  topics gone triple plat - Number 1 spot x54 OP
Props total: 62582 62 K  Slaps total: 12628 12 K
 its said 🔗
cro
saitama
btc
matic
eth
doge
shib


btc
eth
mana
algo
lrc
cro
doge
+2   

 2 years ago '17        #13
Its 
Props total: 65895 65 K  Slaps total: 5198 5 K
 The Dogefather said 🔗
btc
eth
mana
algo
lrc
cro
doge
We damn near on the same team lol
I'm earning interest on most of mine, except for saitama and cro.
Gemini pays on doge i wanna say 4% interest
Voyager pays on shib 2%
And celcius pays me on the rest(and the highest %'s too)
I'm not staking any of them, I'm lending but can move my coins whenever. If you're interested



https://voyager.onelink.me/WNly/referral?af_sub5=CHA02AE1D




Join Celsius Network using my referral code 193405df35 when signing up and earn $50 in BTC with your first tr@nsfer of $400 or more! #UnbankYourself

https://celsiusnetwork.app.link/193405df35



Have you seen the Gemini app? Try it using my code and we'll each get $10 USD of Bitcoin. https://gemini.com/share/77qxyzvup




Been using all these for a few months now and they all have been paying consistently.
+2   

 2 years ago '17        #14
LostTenets  topics gone triple plat - Number 1 spot x53
Props total: 133991 133 K  Slaps total: 36221 36 K
Everything dipped so mentioning the dip is irrelevant
+1   

 2 years ago '17        #15
TellyHankton337 
Props total: 4584 4 K  Slaps total: 643 643
 Its said 🔗
We damn near on the same team lol
I'm earning interest on most of mine, except for saitama and cro.
Gemini pays on doge i wanna say 4% interest
Voyager pays on shib 2%
And celcius pays me on the rest(and the highest %'s too)
I'm not staking any of them, I'm lending but can move my coins whenever. If you're interested



https://voyager.onelink.me/WNly/referral?af_sub5=CHA02AE1D




Join Celsius Network using my referral code 193405df35 when signing up and earn $50 in BTC with your first tr@nsfer of $400 or more! #UnbankYourself

https://celsiusnetwork.app.link/193405df35



Have you seen the Gemini app? Try it using my code and we'll each get $10 USD of Bitcoin. https://gemini.com/share/77qxyzvup




Been using all these for a few months now and they all have been paying consistently.

Why don’t u use crypto.com?

 2 years ago '17        #16
Its 
Props total: 65895 65 K  Slaps total: 5198 5 K
 TellyHankton337 said 🔗
Why don’t u use crypto.com?
I have a crypto. Com acct, that's where I'm holding my CRO matter fact lol, but crypto.com doesn't pay out interest unless you're staking. And I'm not interested in that... I don't really like not having access to my tokens(last i checked, they're staking was for 1-3 months at a time). The 3 platforms that i mentioned pay interest either weekly or monthly on my tokens and i can move/or spend whenever i feel like it. It's like I'm lending celcius/ gemini/ voyager my sh1t and they're paying me weekly or monthly for doing so. So my portfolio is growing passively and i have full access to my sh1t just in case. Win win
+1   

 2 years ago '13        #17
uoeno  topics gone triple plat - Number 1 spot x21
Props total: 89948 89 K  Slaps total: 14109 14 K
i just checked out MANA (decentraland) ... this one could really explode once "metaverses" get more established.
+1   

 2 years ago '04        #18
ncwarrior24 
Props total: 5409 5 K  Slaps total: 297 297
I’m going to start loading up on this stuff.

I’m a novice but something tells me the BX Guap fam is sitting on a gold mine. It might take a decade but this crypto/metaworld stuff is going to POP and we are going to be considered the early adopters everybody wishes they were

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+1   

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