The first decentralized VR world, Decentraland, is about to launch its virtual reality platform and the price of MANA has been known to rise as a result. The cryptocurrency market has seen a bit of a decline in recent months but things seem to be picking back up. There are many predictions for what will happen in this market but no one can really know what the future holds. This is your chance to see if you think it’ll go up or go down.
Decentraland’s price has been doing quite well this past month since it’s the leader of all Metaverse projects with a market cap of $9 billion.With MANA’s all-time high of $5.79 on November 24th, the price of Decentraland has continued its bullish trend. Additionally, with The Sandbox’s upcoming Alpha launch, this is great news for Decentraland. Decentraland has been making news lately, but why is the price rising?
What Is Decentraland
Those who are not familiar with Decentraland can buy land on the virtual universe and explore it utilizing a 3D blockchain-based metaverse. Decentraland is open to the public since February 2020, and it is also the longest-running 3D Metaverse project in crypto. There are a variety of experiences that are available at Decentraland, including Casinos, Concerts, Galleries, and much more.Anyone can check out Decentraland by visiting their official website and connecting using MetaMask, the only project which comes close to what Decentraland has to offer. The Sandbox is currently valued at over $6.9 billion before their beta launch. Don’t forget to set your wallet on Ethereum’s chain, and have fun exploring!
Decentraland Update
Tokens.com and Metaverse Group purchased 116 parcels of land, at a cost of $2.4 million, on November 22nd, marking the largest Metaverse land purchase ever.
Decentraland’s marketplace updated on November 26th, which now renders all wearable devices in 3D. Metaverse is turning out to be a revolutionary idea if virtual plots of land are selling for more than most people’s houses.
Improved user experience allows for a higher trade volume on OpenSea. Decentraland’s wearable collection ranks among the most traded NFT collections on OpenSea, with a volume of 107.5k ETH.
The Metaverse of Decentraland continues to add a variety of partners. One example is the virtual online casino Decentral Games.
Market capitalization of Decentral Games is $213 million, and its 24-hour trading volume is $3.9 million. The fact that a cryptocurrency based solely in Decentraland can achieve such valuations speaks volumes about Decentraland.
Decentraland (MANA) Price is on fire
A market cap of $9.2 billion is reflected in Decentraland’s $5.08 price, a rise of 10% in the past 24 hours. It trades at 3.4 billion dollars in a 24-hour trading volume of $3.4 billion, compared to $6.9 billion for The Sandbox.
In spite of the hype surrounding MANA’s competitor, the fact that Decentraland continues its bullish price hike speaks to the potential of this project over the long-term, especially as their ecosystem develops. Decentraland would make an excellent alternative to MANA in 2022. Aside from that, Decentraland’s team works hard to improve their features and will continue to dominate the market.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
