Have you read or watched Ready Player One? If you have then you know where we are headed. Decentraland is a decentralized VR (virtual reality) world that is powered by the Ethereum blockchain. In this virtual world, you can purchase land, build it, monetize, and immerse into the applications and content that is built by other users. What distinguishes Decentraland from other VR projects is its decentralized nature. Land and in-game currency are powered by the Ethereum blockchain which give users complete ownership and promotes transparency.
What is MANA?
MANA refers to the native currency in Decentraland. It is an ERC-20 token powered by the Ethereum blockchain. Users can currently use MANA to purchase LAND and also pay for goods and services in Decentraland. MANA token can be purchased from various centralized exchanges, decentralized exchanges, and swap services.
What is LAND?
The concept of LAND in Decentraland refers to a parcel of land in the 3D virtual world. LAND is a non-fundigble token (NFT) powered by the Ethereum blockchain. Users have the opportunity to permanently own any LAND they purchase as the land titles are all traceable through the blockchain. They would then have total control on any 3D scenes they would like to build on the LAND. Individual parcels of land can be combined into estates to form larger plots of land. You may purchase LAND from secondary markets such as the Marketplace or OpenSea.
How do I keep my MANA safe?
Since MANA is an ERC-20 token, you can store it in any Ethereum compatible wallet. To stay secure, a good recommendation would be to use a hardware wallet such as Trezor or Ledger. If you are looking to interact with the Decentraland smart contracts, you an opt for wallets such as Metamask, MyEtherWallet, or MyCrypto.
