- From October 21st to 24th, Decentraland will host the first-ever Metaverse Festival.
Founded in 2017 by Ariel Meilich and Esteban Ordano, Decentraland is a virtual reality that offers its users a new set of opportunities: from art to businesses, everyone can get a piece of Land by using MANA, Decentraland’s token.
The platform was launched thanks to an initial coin offer that managed to raise $24 million, and was launched publicly only at the beginning of 2020.
The platform works on Ethereum, and it uses two tokens: MANA – an ERC-20 token used to buy on Decentraland’s marketplace and to be burnt in order to get NFTs – and LAND – an ERC-721 non-fungible token.
The latter represents land owned by people. Decentraland is made up of 90,601 parcels of land, each one represented by a LAND token. The space available on the platform is called Metaverse: people can find their lands thanks to coordinates, and there they can build, create pieces of art and create a new world. Pieces of land cannot be traded, but users can monetize them in several ways, like renting them or offering paid experiences.
If the project was initially born with a focus on gaming, it developed thanks to a thriving community able to see many opportunities: today, owning a piece of land is like owning it in the real world.
People are creating whole businesses on Decentraland, and the upcoming festival is proof of the level of development reached by the platform.
The First-Ever Metaverse Festival
Decentraland announced the Metaverse festival on Twitter, and these days they are providing more details about the event.
Artists like Aluna, 3LAU, Alison Wonderland will join the festival, offering 4 days of music and art.
The event is sponsored by Kraken, one of the main centralized crypto exchanges, that announced the partnership on its blog.
People can participate with their avatars: they can listen to music, take a walk to visit the Metaverse and its pieces of art, discover new lands, participate in exclusive NFT drops and can interact as if they were in the real world.
The festival has its official website, where people can find all the details related to the 4-day event.
The Future For MANA
The MANA token is positively reflecting this new event and the booming of the NFT market.
At the time of writing, MANA is traded at over $0.80 with a +4.53% in the last 24 hours.
In one day, the trading volume of MANA increased by over 65%. Over 1 billion MANA are circulating across the market, and a token has a total supply of 2,194,031,227 – no maximum supply.
The Metaverse festival can result in a further rising price, since users need MANA to access Decentraland. But if you want to know more about this virtual world and its token, visit MANA’s page on CoinMarketCap.