Is Decentraland (MANA) the best crypto Metaverse play?
Decentraland (MANA) has a chance to put itself at the centre of the decentralised metaverse. Here’s why.
No matter what our old friend Mark Zuckerberg thinks or says, no one company or entity is going to be the metaverse.
Especially not a multinational corporation prone to shady dealings and censorship such as Facebook… erm, Meta.
The Metaverse is going to be a mishmash of virtual worlds, some centralised, some decentralised.
Honestly, the future is exciting!
This section of our Decentraland (MANA) guide looks at how this OG project can take advantage of the hype and position itself as the best crypto metaverse play.
What is the Metaverse going to look like?
Facebook’s rebranding to Meta (lol), if nothing else has certainly generated a ton of hype.
I genuinely believe that the metaverse is going to be an interconnected, decentralised universe that people can seamlessly move between and interact with.
Does that sound familiar?
Replace the word metaverse with crypto ecosystem and that’s what I’ve said many times here on the blog about our own future.
The entire digital world, encompassing the worlds we live in and the value we exchange within them, is all going to be interconnected.
Maxis, whether they’re for a singular blockchain ecosystem or single corporate metaverse, are going to fail.
This is why I find projects like THORChain, and even our very own LeoFinance suite of cross-blockchain tokens are so exciting.
But where does Decentraland fit in and what makes it the best crypto Metaverse play?
Why Decentraland (MANA) is the best crypto Metaverse play
Decentraland fits in perfectly with this open, interconnected mantra that is ultimately going to win out.
The project is controlled via a Decentralised Autonomous Organisation (DAO), which owns the most important smart contracts and assets of Decentraland.
These assets include:
- LAND Contracts
- Estates Contracts
- Wearables
- Content Servers
- The Marketplace
Furthermore, Decentraland ultimately aims to achieve full interoperability with other metaverse projects.
Can you imagine Facebook saying that they want to be interoperable with the entire decentralised web?
Yeah, naa.
Decentraland proposes to use an advanced protocol called the Idempotent Publish/Subscribe Messaging Environment (IPSME).
This proposal is still in its early stages, but will no doubt be a game changer for the project if they can actually pull it off.
Whether this proposal will become a reality, only time will tell.
But let’s just say that the market is optimistic that Decentraland (MANA) is in a good position.
The market certainly like MANA
I mean all you have to do is just take a look at the MANA price.
This section of our guide to Decentraland (MANA) isn’t about short term price action, so I’m not even going to include a candlestick chart.
Everything you need to understand about MANA’s price action, is shown on the following line chart from CoinGecko.
Talk about boarding the metaverse hype train, am I right?
Now surely this is unsustainable and purely on the back of Facebook’s garbage rebrand.
But I’ve been saying that about the likes of Solana and Avalanche repricing and not only doing insane multiples, but continuing to maintain those gains.
If Decentraland can remain decentralised and pull off its interconnectivity, it certainly looks to be the best crypto Metaverse play available.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not share a chart or leave a comment with your opinion on the best crypto Metaverse play? All comments that add something to the discussion will be upvoted.
This Decentraland (MANA) blog is exclusive to leofinance.io.
Posted Using LeoFinance Beta
I should buy some MANA.
Posted using Dapplr
Do it.
I dare you.
Posted Using LeoFinance Beta
I just need cash 😉. Actually, I've been bullish on MANA since I heard/read about it back in 2018 ... I guess.
Insane to see how it grew over time. I remember entering Decentraland shortly after the launch. It was glitchy af and there was literally no one to be seen inside the game.
Is it comparable in any way to the Sandbox and which one do you think is a better platform that will attract more newcomers in the long run?
Posted Using LeoFinance Beta
Sandbox is certainly Decentraland's biggest crypto metaverse competitor right now.
But are they really competitors if you're going to be able to seamlessly move between their world's and then onto someone else's in the future?
There's also still Second Life which I can probably see integrating itself into the crypto universe eventually.
You should do a comparison section for the guide that talks about all 3! ;)
Posted Using LeoFinance Beta
Gonna need to revisit all of them for sure. Maybe I end up writing that comparison after I'm done lol.
Looking forward to seeing how this develops. Once one "traditional" video game makes a transition it is only a matter of time before others start doing it.
Posted Using LeoFinance Beta
While I would prefer it over Facebook, I think it's a pretty high bar to pass over. Let's just say its the same as all the games trying to raise funds before a product is ready in the traditional gaming space. It's a cesspool of not getting what you paid for so I will sit on the side lines.
Posted Using LeoFinance Beta
But even if Facebook's closed metaverse becomes more popular in the short term, people are going to continue to build an open world around it.
The open, decentralised versions of everything will win out in the long run.
The metaverse, money.
Everything.
Posted Using LeoFinance Beta
Facebook's metaverse is more about being the gatekeeper I think. I think it will still be opened world but it might want people to have a facebook account to access the world.
Posted Using LeoFinance Beta
Mana is a pioneer in the metaverse and for that reason already has a lot of value, if we add the actions they are doing and what is coming for the future, we would easily be talking about the best cryptocurrency that deals with the metaverse.
¿Do you have mana in your portfolio?