In 2017, Decentraland (MANA) began work on creating an environment that mimics our daily interactions with blockchain technology. This is now known as Metaverse, one of the most talked about technology concepts.
Like the entire crypto market, Decentraland and its ecosystem’s native token MANA were also affected by the Fed’s interest law. Despite this, since dropping to as low as $1.74 on January 22, MANA has been experiencing a massive comeback, gaining up to 33% in the last two weeks. Decentraland currently has a market cap of $5.5 billion, making it the 29th largest cryptocurrency.
Giant Supports From Big Investors
Decentraland is attracting interest from major investors, with Microsoft supporting the development of Decentraland’s open source project with $69 million. For example, Tennis Australia partnered with Decentraland at the Australian Open tennis tournament. With this partnership, they presented the audience with select parts of Melbourne Park created in the Metaverse.
Many Sectors Many Innovations!
The Decentraland team has recently introduced the “My Store” section in the virtual store, allowing users to customize the theme look of their store, including avatar, bio description and social media links. Shortly before launching My Store, Team Decentraland brought royalties to the platform. However, users began to issue royalties for all transactions with their NFT.
Decentraland, which has a hand in many sectors in Metaverse, is announcing that it will host the first Metaverse Fashion Week as of March 24. Dozens of world-famous brands are expected to take part in the four-day event. Visitors; Virtually experiencing fashion shows, participating in live music at brand-sponsored after parties, and purchasing and wearing digital clothing NFTs directly from catwalk avatars are among the events planned.
Also, the Decentraland team is working on a DAO that will allow users to view their NFT as wearable within Decentraland to enhance the metaverse experience. Additionally, Decentraland plans to create a mobile app and a new desktop client for Windows, Linux, and Mac. The apps aim to generate new ways for users to enter and interact with the Decentraland Metaverse. The team anticipates that a beta VR client will also be available in the second half of this year to improve the metaverse experience and performance.
Decentraland is considered to be the largest community with user participation, as well as being the largest among crypto projects created in dApps. Apart from that, Decentraland has 506 thousand followers on Twitter, 150.1 thousand members on Discord and 16.5 thousand subscribers on Telegram.
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should perform their transactions in line with their own research.