Following MANA Token Surge, Decentraland DAO Surpasses $1 Billion Threshold

The project for the development of a metaverse on the Ethereum networkDecentraland, has already exceeded the threshold of USD $ 1 billion in funds for its development, especially since its MANA token was trading at around USD $5 per unit.

Financing for Decentraland

According to reports published today, the DAO of Decentraland has more than 200 million MANA, which increases its price to about USD $ 1 billion, a figure that represents a tenth of the total allocated by Facebook for the building your own metaverse.

In this regard, one of Decentraland’s early investors, Barry Silbert, commented:
With MANA above USD $ 5 there is already more than USD $1 billion available for the construction of the decentralized metaverse … The higher the price of MANA, the more resources will be available to finance the metaverse … All decentralized.

The rise of Decentraland

Despite the fact that Decentraland is a project whose origins date back to 2017, this initiative has gained a lot of popularity in recent times, especially during the COVID-19 pandemic, lending itself as a recreational space in a new virtual ecosystem, completely decentralized and based on on Blockchain. 

As such, the strength of its proposal is that in Decentraland users have space to create anything they can think of, which has served to organize completely virtual events that bring together a large number of participants, even providing the space for creation and marketing of digital collectibles.

However, precisely due to its decentralized nature, the project still faces operational problems that will be corrected with further development. One of them is the impossibility of keeping more than 50 people in the same virtual room simultaneously, since from this point there will be problems for users to interact with each other.

Decentraland’s future plans include launching a desktop client and a mobile client, which would significantly improve the experience for all participants. The demand and adoption seen in the platform has prompted the need to improve its operating conditions, precisely to efficiently host as many users as possible.

MANA token increases

As previously indicated, the project funds housed in the DAO increased significantly due to the increase in the price of the MANA token, which has already exceeded USD $ 5 per unit. Oi

As at the time of this publication, each unit is priced at about USD $ 5.12, capitalizing an increase of 30% in the last 24 hours. It is worth noting that just today it reached new highs, once it touched USD $ 5.48.

The most remarkable thing is that the pronounced increase in the price of MANA occurred at the end of last October, so the token appreciated by more than 6,000% in the beginning of 2021.

Author: Melvic Melvin

Melvic an experienced native-English freelance writer and copy editor. He is an avid writer of both academic and non-academic work, including content editing for journal articles, dissertations, and undergrad/grad/Ph.D. papers. A reviewer of top-tier academic manuscripts during the publication process--Academy of Management Journal, Strategic Management Journal, Academy of Management Review, and a few Economics/Finance journals.