Why 2021 Is The Best Time To Invest In Decentraland (MANA)?
What is the best time to invest in MANA?
Decentraland was founded following a $24 million initial coin offering (ICO) in 2017. Since then, users have created a diverse range of interactive experiences on their LAND parcels, including interactive games, sprawling 3D scenes, and various other interactive experiences. The virtual world entered closed beta in 2019 and will be accessible to the public in February 2020.
What Is Decentraland (MANA) Coin?
Decentraland (MANA) describes itself as a virtual reality platform powered by the Ethereum blockchain, where users may develop, enjoy, and monetize content and apps. Users in this virtual world buy pieces of land that they may subsequently traverse, construct on, and monetize.
MANA and LAND are the two tokens used by Decentraland. MANA is an ERC-20 token that has to be destroyed to get non-fungible ERC-721 LAND tokens. MANA tokens may also be used to buy avatars, wearables, names, and other items in the Decentraland marketplace.
What Is The Function of Decentraland (MANA) Coin?
Decentraland is designed for content producers, enterprises, and individuals seeking a new artistic medium, financial opportunity, or source of entertainment.
- Applications: Decentraland’s scripting language will enable the creation of programs, games, gambling, and dynamic 3D sceneries. This scripting language will be developed to handle various features, such as object creation, texture loading, physics handling, encoding user interactions, sounds, payments, and external calls, among others.
- Content Curation: Users in Decentraland will congregate in neighbourhoods of mutual interest. Users will draw to the landowners’ material if they are located in high-traffic centres.
- Advertising: Billboards near or in high-traffic land parcels can be used by brands to promote their products, services, and events. Some areas may become virtual replicas of New York City’s Times Square. Brands may also position items and create shared experiences to interact with their target audience.
- Collectables On The Internet: Decentraland anticipates that users will publish, share, and collect unique digital assets issued by their creators on the blockchain. These digital assets will be exchanged inside this world using the scripting system and backed by the naming as mentioned above, much as they are now in other virtual worlds or online forums.
- Social: Groups that now meet in online forums, chat rooms, or even centralized multiplayer games might move their communities to Decentraland. Offline communities may also find a home in Decentraland.
- Other Applications: There are no technological constraints on what may be created in Decentraland. As a result, various use cases, such as training and professional development, education, therapy, 3D design, and virtual tourism, might arise.
What Is The Best Time To Invest in MANA Coin?
Decentraland price in India at the time of writing this article is $5.75, with a 24-hour trading volume of $11,13078. With a current market capitalization of $10,496,927,098, Decentraland has increased 29.53% in the previous 24 hours. The circulating supply is 1,824,622,335 MANA coins, and the maximum amount is not known.
Taking everything into account, the MANA price in India by the end of 2021 might be $10.84. The asset would end up trading at $5.525 if the average purchase and sell forces were applied. In the event of a bearish trap, it would settle at $3.8.
Start Investing in Decentraland MANA Coin
A reputed exchange is mandatory to have a cryptocurrency account that allows you to buy MANA in India to start trading and investing in MANA and other cryptocurrencies. Crypto exchange is a broker that allows you to trade MANA in India and other cryptocurrencies. Suppose you are interested in investing in MANA in India and getting the best pricing effortlessly and quickly.
In that case, BuyUCoin Exchange is the sole exchange you need. It allows you to even invest in MANA by using your debit card MasterCard NEFT or UPI.
Is Decentraland MANA Coin A Good Investment in 2021?
MANA remained to trade around $0.08 at the start of January, despite an increase of the bearish run. The token gradually began to climb in value. On the positive side, the currency soared to $1.19 in March and blasted the all-time high of $1.63 in mid-May.
The cryptocurrency soared in Q4 despite some swings. The price fell to $0.4368 as a result of the May market crisis. After resuming its bull run in June, the MANA price climbed to $1.07 in September.
The start of the month was negative for the MANA price, which has remained in the $$0.78 range throughout the month. Nonetheless, with Facebook’s rebranding to Meta, the asset has managed to maximize revenues.
On November 2nd, the price of MANA in India rose parabolically from $0.9646 to $3.7. Furthermore, the Metaverse Token saw a protracted rise, reaching a new all-time high of $5.48 on November 24th.
Considering everything, the highest price of MANA by the end of 2021 might be $10.84. If the average purchase and sell pressures were applied, the asset would trade at $5.525. It would settle at $3.8 in the case of a bearish trap.
Why Invest In MANA Coin?
- MANA is essential in Decentraland’s virtual world, and it may be used for transactions within the ecosystem and to participate in the administration of its software.
- Ownership of MANA, for example, allows users to connect with the platform by designing their avatars, engaging with other users, and exploring its metaverse.
- Furthermore, users who own MANA can vote on policy modifications, LAND auctions, and subsidies to develop the platform.
- When LAND is auctioned, the MANA tokens used to acquire the parcels are burned or withdrawn from circulation, resulting in a deflationary supply of MANA. As the platform’s user base expands, the token’s value may suffer as a result.
Mana Coin Market Sentiments
- LongForecast
As per LongForecast, the coin might grow threefold in the next five years. It should have a clear bull run around $1.80 to $2, making it a long-term good investment.
- Coinquora
As per Coinquora, in the next four years, MANA prices could race up to $50. This indicates that MANA has a high possibility of reaching a new ATH soon in the next five years as per the prediction.
Conclusion
Decentraland is a distributed virtual world platform that allows developers to build and commercialize apps on top of it. The scarcity of land on which to build apps produces hotspots that catch user attention, generating money for content providers. In-world, MANA tokens will be used to acquire land, products, and services. MANA coins will also encourage content production and user adoption, therefore launching the first decentralized virtual world.
Why 2021 Is The Best Time To Invest In NANO Coin?
Why 2021 Is The Best Time To Invest In Decentraland (MANA)? was originally published in BuyUcoin Talks on Medium, where people are continuing the conversation by highlighting and responding to this story.
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