Decentraland Price Today

The current real-time Decentraland price is $0.60 . MANA price has plummeted by 1.55% in the last day and decreased by 0.53% in the last seven days. It’s important to note that the current Decentraland market capitalization is $1,157,968,161. The maximum supply is coins, with a circulating supply of 1,942,255,184.11. Decentraland is ranked in terms of market cap.

What is Decentraland?

Decentraland (MANA) is a cryptocurrency project built on the Ethereum network that allows users to buy, sell, and explore digital real estate. Esteban Ordano and Ariel Meilich released the project in 2017 as an Initial Coin Offering (ICO), which raised $24 million. Decentraland launched in 2019 as a closed beta before its public launch in 2020. 

Key features of Decentraland include:

• Buying/selling virtual land in the metaverse
• Creating a customized avatar
• Building games and businesses within Decentraland 

How Decentraland Works

Decentraland is an expansive metaverse world divided into 90,601 Land parcels on the blockchain as Non-Fungible Tokens (NFTs). It has a set of tools for creating buildings and games within the metaverse world. Users can load into the Decentraland world as virtual avatars to explore the various buildings, socialize with others, and participate in user-created games. 

In the Decentraland ecosystem, there are two main kinds of assets. MANA is the propriety cryptocurrency fueling the project. It is used to purchase land or items from the built-in marketplace and engage with the Decentraland ecosystem. On the other hand, each Land NFT represents a 16m x 16m parcel marked by unique coordinates. 

Decentraland comprised three layers, each with a unique purpose. The consensus layer controls a ledger that records who owns each Land parcel and where it is based. The content layer manages what exists in each parcel, including content placement, audio, and visuals. Lastly, the real-time layer allows users to communicate with each other using avatars, voice chat, and messages. 

Decentraland Price History

Decentraland has a rocky history regarding its price. The asset was sold for just $0.028 during its ICO, yielding around a 1,200% return at today's prices. 

After Decentraland's release, MANA struggled to find traction, with its price staying between $0.027 and $0.09398 until 2021. However, as Bitcoin soared in price and a significant focus on the metaverse and related projects spawned, the value of MANA catapulted upward. 

By the end of January 2021, MANA rose to $0.1541 before going parabolic and surging to a high of $1.551 by April 29th. However, the asset was only just getting started and quickly rose, hitting its all-time high of $5.1991 by November 26th of the same year. 

Since hitting its all-time high, the broader crypto market has cooled off significantly, and focus has shifted away from the metaverse toward AI-centric projects, DePINs, and scaling layers. As a result, MANA has been unable to maintain its price, falling almost continually throughout 2022, dropping as low as $0.2947.

The asset resurged in 2024, rising to $0.7792 on March 12th. However, MANA hasn't been able to maintain its valuation and currently trades for roughly $0.34, a decrease of around 93% against its 2021 high. 

Decentraland Tokenomics

Decentraland initially launched with a total supply of 2.8 billion MANA tokens. However, today's supply hovers closer to 2.2 billion MANA due to frequent burns from Land auctions and the 2.5% burn mechanism on marketplace transactions. 

It's important to note that Decentraland has a built-in inflationary mechanism, which would cause the MANA supply to rise by 8% annually. That said, the mechanism is currently turned off, and the team has no plans to turn it on until necessary. 

MANA As An Investment Is Speculative

While Decentraland and its main competitor, The Sandbox, performed exceptionally well in 2021, the massive demand for metaverse projects amplified both assets' rise. Today, the demand for metaverse-centric projects like Decentraland is much lesser, making it challenging for the asset to return close to its all-time high. 

Moreover, while the project has been focused on burns, MANA could be devalued if the team decides to turn on the inflation mechanism. 

Where To Buy MANA

While demand for MANA has fallen, investors can purchase the asset on many major crypto exchanges, such as Binance, Bybit, and Kraken. You can also purchase MANA on Ethereum Decentralized Exchanges (DEXs) like PancakeSwap.