Decentraland(MANA)

Overview

Decentraland (MANA) is a virtual world platform built on the Ethereum blockchain, where users can own parcels of virtual land called LAND and build content and applications on them. The project raised funds through a token sale in 2017 and opened to the public in February 2020. MANA is an ERC-20 utility token used to purchase LAND and items in the platform's marketplace.

Platform policies and smart contract upgrades are decided by votes in a decentralized autonomous organization (DAO) in which MANA and LAND holders participate, with voting power measured in units known as VP. MANA spent on LAND purchases has historically been burned, removing it from circulation. The browser-accessible 3D environment hosts events, exhibitions, and games, while avatar wearables and names are traded as NFTs.