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Information about Decentraland (MANA)
Decentraland (MANA) is a decentralized virtual reality platform (Decentralized Virtual Reality Platform) developed on the Ethereum Blockchain network.
Decentraland was first launched in 2017 and officially opened to the public in February 2020. Since then, Decentraland has provided users with various experiences, including interactive games, 3D scenes, and more interactive experiences.
Decentraland allows users to create a token-based economy to own land in virtual reality. Participants can freely create and build anything when they own a piece of land there. In addition, participants can experience a variety of engaging everyday activities such as attending seminars, going to casinos, watching water music, driving, visiting resorts, shopping with friends, etc.
MANA is the governance token of Decentraland. MANA holders control how the Decentraland platform works by recommending and voting on policy updates, the specifics of upcoming LAND auctions, and the types of content allowed on the Metaverse.
News
The metaverse is witnessing a decline due to the rise of generative AI technologies. Investments by companies like Meta have not yielded expected outcomes, leading to doubts about metaverse’s future.
Despite challenges, tokens like MANA, SAND, and AXS show resilience. Investors with strong conviction see these as undervalued opportunities and community-focused platforms may drive future success.
Decentraland shows the highest development activity among NFT projects, outpacing others like FLOW and FET. Meanwhile, FET has climbed to the fifth position in development activity over the past month. This progress signifies positive momentum for both tokens, suggesting future growth potential in the rapidly evolving NFT space.
While some MAJOR NFT players are retreating, development remains strong. MANA and FET, despite the exits, exhibit bullish signs in supply distribution. Experts foresee growth in the NFT sector in 2025, with an extended use case for NFTs, hinting at an expansion in adoption and market potential, driven by innovative projects.
Accumulation trends suggest larger holders are buying more MANA since late November, and FET shows similar trends from early December. Both tokens have seen an increase in activity and interest, with wallets holding significant amounts growing steadily, reflecting a bullish sentiment among larger investors and holders in the market.
According to Santiment, Decentraland executed 168.17 notable GitHub activities in the last 30 days, emerging as the project with the highest development activity among NFT initiatives in the past month.
Decentraland launches virtual property renting for LAND owners
The metaverse platform Decentranland announced a new platform feature which allows its users who own virtual LAND to essentially become landlords.
Owners can now officially rent out their property to other users on the platform for predefined periods of time. This allows users to earn passive income off of their metaverse assets.
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