I know I’m a bit late to the metaverse party, but I really wanted to do my research for today’s video…
That’s partially because I’m a huge fan of NFTs and NFT related cryptocurrencies, but also the crazy price action of some of these warrants some extra inspection. Decentraland is no exception!
Decentraland has been around since 2015. It has a pretty solid team behind it, and is backed by big names like Digital Currency Group and Animoca Brands (the same company behind The Sandbox, oddly enough). Decentraland raised a solid 25 million dollars in 2017 from these folks and has been putting that money to work ever since.
Most of the development we’ve seen on Decentraland has happened this year, and some of its most exciting updates have happened over the last few months. For example, Decentraland recently finalized its integration with Polygon. It also introduced in-game quests, and even updated its governance to allow its community to spend from the treasury.
These are a few of the factors that have made MANA fly, and Facebook’s metaverse push is one of these of course. It’s worth pointing out though that interest in Decentraland was there long before Facebook’s rebrand. Institutional investors have been allocating to Grayscale’s MANA trust, and there have been a lot of LAND sales over the last year.
Most importantly, Decentraland has a long list of upcoming milestones lurking in its governance forum. One of these gives the Decentraland Foundation the authority to create a much needed roadmap which we should be seeing any day now. The Decentraland community is also funding a series of initiatives, mainly pay to play games.
All that said, I do have a few concerns about the project. These have less to do with what the team is doing and more to do with what regulators are planning.
Be sure to stick around until the end to find out about that, and I strongly suggest you do so if you hold MANA.
⛓️ 🔗 Useful Links 🔗 ⛓️
► Decentraland Game: https://play.decentraland.org/
► Decentraland NFT Marketplace: https://market.decentraland.org/
► Decentraland Quests: https://decentraland.org/blog/announc…
► Grayscale Decentraland Trust: https://grayscale.com/products/graysc…
► Decentraland Governance: https://governance.decentraland.org/
► Decentraland Grant Application Process: https://docs.decentraland.org/decentr…
► Decentraland Treasury Vesting (Requires Metamask): https://vesting.decentraland.org/
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.