What is MANA?

_{What is Decentraland (MANA)?}

MANA is a Utility Token on the Decentraland platform
which is a gaming platform on the cryptocurrency world built on the Ethereum blockchain.
Used for transactions within the platform, such as virtual purchases of goods, services and virtual land (LAND parcels).
These are NFTs (non-fungible tokens) that represent virtual land ownership within the platform.

_{Native Blockchain:}

MANA runs on the Ethereum blockchain as an ERC-20 token. The Ethereum blockchain is a decentralized infrastructure.
Essential for the safe and efficient functioning of the Decentraland ecosystem

_{Founder/Date Founded:}

Decentraland was founded by Ariel Meilich and Esteban Ordano by Ariel Meilich, serving as project leader until 2020.
While Esteban Ordano has a background in software engineering and blockchain technology, the development of Decentraland began in 2015.
And it was officially released to the public in February 2020.

_{Objective/Use Case:}

The main objective of Decentraland and the MANA token is to create a decentralized virtual reality platform that users can create.
Experience and monetize content and applications. MANA's main use cases include:

• LAND Purchase: Users use MANA to purchase virtual land or LAND within Decentraland, with these LANDs represented by NFTs.
• In-World Purchases: MANA can be used to purchase goods and services within Decentraland, including avatars, costumes, names.
  and other user-generated items.
• Governance: MANA holders can participate in Decentraland's decentralized automation organization (DAO).
  WHERE THEY CAN VOTE ON POLICY UPDATES, LAND AUCTIONS AND OTHER IMPORTANT DECISIONS AFFECTING ECOSYSTEMS.
• Monetization: Content creators can monetize their content and applications within Decentraland
  By charging MANA for access or participation.

_{Total Supply/ Limit or Unlimited:}

The total supply of MANA is capped at $2,194,605,927, which means that no additional MANA tokens will be created.
In addition to this limit, the coin limit is ensured.

_{Supply Deflation:}

MANA has a coin metabolism system called the “Burn Mechanism” which reduces the number of coins circulating in the system when users purchase LAND land.
MANA tokens used in transactions are burned. This burning process permanently removes these coins from circulation.
This reduces the total supply of MANA over time.

_Source:

coinmarketcap

coingecko

github.decentraland

whitepaper.decentraland

decentraland.org

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