The world is rapidly moving towards digital art and the virtual world. Which holds immense potential for creators, platforms, and investors. The recent announcement of Facebook, transiting into the metaverse, has brought immense value to the industry. And has influenced several protocols surge to the moon.
Decentraland is one of the major protocols catering to the virtual world. The protocol aims to encourage a global network of people to use a shared virtual world. The native token of the protocol MANA is vital to carry out transactions in the virtual world. Post Facebook’s announcement of Meta, MANA managed to claim its ATH, with an increase of over 400%.
Decentraland’s Rising Stance In Metaverse
The protocol has been gaining immense presence among enthusiasts from communities of cryptocurrencies, digital art, and virtual reality. Decentraland is introducing the play to earn incubator. Ice Poker by Decentral Games allows users to earn tokens by playing popular casino games.
Decentraland with its fully-fledged SDK, a vibrant community, coupled with the layer-2 Polygon integration. Turns out to be an ideal setting for the development of the P2E ecosystem. The play-to-earn incubator aims to capitalize and support newer games in the Metaverse. The Decentraland foundation will be forming an alliance to empower value to P2E games hitting the metaverse in 2022.
Barbados has signed an agreement with Decentraland for establishing a digital embassy. The nation is putting together to legally declare digital real-estate sovereign land. With the establishment of a metaverse embassy. In addition, the platform will be fueling a live, music event in the metaverse.
MANA Price Buckling Up For The Moon?
The digital asset at press time is trading at $3.02, losing out 9.9% in its value. The market cap of the digital asset is hovering around $4,012,815,967. The trade volume for the last 24-hours is around $1,441,255,178. It’s been over a fortnight since MANA claimed its ATH of $4.11. The digital asset has been consolidating post its healthy march in recent times.
As previously mentioned, Facebook’s move towards metaverse has fueled MANA’s rally to a greater extent. According to some sources, the amount of MANA being held in Grayscale’s decentraland trust has more than doubled. From less than 10 million MANA to nearly 20 million MANA since March of this year.
Collectively, the demand for Decentraland has been growing at a steady pace. The catalyst would help propel MANA price to greater highs, as the utility and applications of the platform keep rising.
The growing industry of metaverse will cater to the growth of protocols serving the virtual world, NFTs, and creators in the near future. Decentraland holds immense potential to attain supremacy in the metaverse, as the protocol has been chugging ahead in the virtual world, and its vivid use cases.