MANA is an ERC token that powers the ecosystem of Decentraland. This game was started with 2d graphics in 2016, but now it offers three-dimensional worlds with customizable land, art, activities and much more.
These days, many people are investing their money in this platform because it uses non-fungible tokens (NFT), unique digital assets that one can easily trade. You may be surprised that more than 90 thousand plots are in this game, and all of them respect NFT.
Why People Invest In Decentraland?
Generally, people invest in this platform because they can buy virtual land at low prices, sell them for high prices, and earn significant profits. In addition, one can increase the value of their property by adding artwork and other improvements.
In addition, many celebrities and reputed brands as started investing in this platform with the hope that it will earn significant results in the coming years, adding value to Decentraland price. Although the game is free to play, it attracts players' attention to buy virtual land or other items. However, one can easily start playing games if they are willing to invest money in the virtual world.
Price of Decentraland
In the current scenario, Decentraland has become a huge name with a market capitalization of $800 million. However, its total circulation of supply is 100 times larger than Bitcoin, which is 1.86 billion. This is another reason which makes it worth buying.
The current price of Decentraland is around $0.44. In addition, many cryptocurrencies, such as Dogecoin, Ethereum, and Cardano, have huge market capitalization. But, still, Decentraland comes on the third number when we talk about gaming cryptocurrencies behind ApeCoin and The Sandbox.
Competitions of Decentraland
The Sandbox and Axie Infinity are the biggest competitors of Decentraland. These three projects are unique from each other, but they all become popular using monetary incentives. The sandbox and Decentraland are similar to each other as they both have an entirely new virtual world. However, Axie Infinity is a plat to earn the battling game.
Generally, only upper-class investors invest in Decentraland because it is very expensive and the cheapest plot in the virtual world is worth $1500. Various cheap accessories are available to buy, but there are also very costly. However, the games like Axie Infinity need 3 NFTs worth $100, which is quite cheap.
Is Decentraland a good investment?
Like all other cryptocurrencies, Decentraland is extremely risky for making investments. Although the rewards are massive, they can go downside as well. For example, if you invested your money in the MANA token at the start of 2021 when its price was around $0.08, you would have made unpredictable huge profits.
But on the other hand, if you invested in May when this coin was at its peak, you would be at a significant loss. Decentraland is a high-volatile market, so an investor must be aware of how risky it can be before investing. Therefore, we suggest you always calculate the loss before making an investment decision. But a person having knowledge about cryptocurrencies can go for Decentraland trade.
...............................................................................If you want to know what the price of Decentraland will be within the next ten years, our Decentraland price forecast can give you a really good idea of what to expect, you can check the link below or enter our chat rooms and talk with crypto enthusiasts and traders.