Currently, blockchain applications in the metaverse are primarily gaming-oriented, with NFT games being the most compatible direction. Several NFT games based on blockchain technology have already emerged.
Introduction
Decentraland (MANA) is a decentralized virtual reality platform built on the Ethereum blockchain, where users can buy, sell, and build blockchain assets. Users can create, experience, and monetize their content on the platform, earning profits while interacting with others.
Each parcel of land (LAND) in Decentraland is represented by a non-fungible token (NFT), with each LAND having its own unique code. This means each parcel is represented as an ERC-721 token with unique location parameters.
The crypto asset wallet MetaMask is one of the gateways to Decentraland. Users can purchase LAND using Decentraland’s native token, MANA. All transactions and purchases are recorded on the Ethereum blockchain, making them immutable, and ownership of LAND belongs to the buyer.
Scenarios
Beyond buying and selling LAND, you can also use LAND to create on the platform—for example, designing your estate or decorating your land. You can also purchase clothing from shops to customize your virtual avatar. Once dressed up, you can visit art galleries to exhibit or even auction your creations. Additionally, you can participate in social scenarios like virtual gatherings or conferences.
On June 5, the auction house Sotheby’s moved its London gallery into Decentraland, where a selection of NFT artworks were auctioned in this virtual gallery.
Data
According to the NonFungible data platform, as of June 16, Decentraland’s total transaction volume over the past seven days reached $470,000, with 375 sales. The historical total transaction volume stands at $63.67 million, with approximately 120,000 products sold in total.
Data from the OpenSea trading platform shows that Decentraland’s total transaction volume on OpenSea is 90,057.84 ETH, with 4,582 participating wallets.
The total supply of the MANA token is 2.805 billion. MANA can be used to purchase land in the game as well as virtual goods and services. The current price is approximately $0.74, with a circulating supply of around 1.5 billion, a market capitalization of $1.163 billion, and 102,788 token-holding addresses.
