Decentraland (MANA) is not just another digital asset in the market; it seeks to connect the VR world and real world economies. Its native token is an enabler in buying and selling of assets in the entertainment, retail and gaming industries among many others. However, the system is a mix between VR and blockchain and works independently from the central government interference.
Virtual reality (VR) has been seen as one way of detaching from the real life to a new world experience. It is shift from the reality of the real world to an imaginary world that you can experience without leaving your real world comforts.
How Does Decentraland Work?
Decentraland is a simple enabler that allows you to own virtual properties and you it as far as your imaginations can stretch. It is simple but yet complex project that combines VR and blockchain and has proved very popular among crypto verse goers since rides on distributed ledger without being hosted on your usual servers thus it is uncensored.
Decentraland marketplace is driven by speculation where participants buy low and sell high. The system has immunity against outside influencers and the freedom and security makes the ecosystem economy to thrive. With only 90,000 fixed virtual plots available in virtual land, VR investors have shown how prepared they are to purchase them.
In a recent plot auction at the first ever Decentraland metropolis of Genesis City, a total of $28million was realized. This is a new trend and based on its speculative nature, has been attracting a lot of interest from virtual property developers and crypto investors.
Decentraland VR Economy and the Real World Economy
Away from the speculative investment, the Decentraland economy is driven by networks native token, MANA which is an ERC20 based. Once the virtual plots are sold out and fully developed, the currency will turn out to fuel the economy. Whether you are watching virtual movies, gambling in a virtual casino or taking a virtual flight, MANA will be the official payment token.
The opportunities are unlimited in the Decentraland economy; participants will have the ability to offer freelance services, central business zones will come up and the mode of payment will remain MANA. However, the fun part is that once you make your money in the VR world, you can always step back to the real world and convert your earnings to fiat and spend it normally.
Decentraland Connects users Between VR and Real World Economies
It only makes more sense when one can make millions in the virtual world and spend it in the real world. This is the whole concept behind the Decentraland virtual economy. Converting the VR wealth to real life one is what has been making MANA a hot coin in the market despite the bearish crypto market.
Participants with high quality products and services in the VR world will be able to benefit from the economy which they can turn to real world wealth. This is making the VR world more competitive and investors are shift from the real world and go for quality from the other side of the divide.
Decentraland (MANA) Price Check
With the high quality virtual assets and services coming from the VR world, it is only logical that the interest and hype keeps the Mana token afloat. Secondly, the outfit is just getting started and its potential has only been scratched on the surface. Once the virtual economy syncs with the real world economy, better days ahead are guaranteed.
At the time of reporting, MANA token price was being quoted at $0.063157 after gaining 20.53% to the dollar and 17.77% against BTC to keep it in the double digit green zone. With the market still under the bear influence, this is a good sign for a short term momentum which might stretch further to last the entire Q4.