Decentraland (MANA): Price Analysis and Latest Developments – 5 February
- Microsoft joined the metaverse world, investing $69 million in Decentraland.
- Decentraland allows stores’ personalization and offers royalties awards to improve its metaverse,
- Decentraland’s 4-day event, Metaverse Fashion Week, will start on 24 March.
- The project also wants to introduce a VR mobile app, make NFT wearables and launch a desktop client app, aiming improved metaverse experience.
Decentraland (MANA) promised an atmosphere that resembles our day-to-day interaction using blockchain technology. That was during its inception in 2012. As of now, the project established a name in the metaverse concept.
Decentraland saw increased popularity in its metaverse network when Facebook rebranded to Meta in 2021 October. Though the report helped Decentraland claim its spot as one among the leading metaverse network, what about recent performance.
Price Updates
Decentraland’s native token MANA has seen massive bearish momentum in January, similar to other products in the crypto world. The downbeat came as market players anticipated rate hikes by the US Federal Reserve. Meanwhile, MANA saw impressive bullish action since dropping towards the 22 January lows, gaining more than 33% within the past two weeks. The coin declined to $2.6049 after touching the $2.71 intraday peak.
MANA ranks 31st, with its market capitalization standing at $4.72 billion.
Recent Developments
Decentraland projects attracted big investors, Microsoft pushing $69 million to aid in Decentraland’s open source development. Moreover, Tennis Australia partnered with Decentraland for the Australian Open. The collaboration had a digital recreation of Melbourne Park’s outstanding parts to facilitate the virtual competition.
Though Decentraland boasts the 1st-mover advantage within the metaverse, it continues to introduce upgrades to be the best of the rest. Recently, it introduced the “My Store” feature to allow users to customize the store’s cover appearance, including bio description, social media links, and avatar.
Decentraland launched royalties shortly after introducing the My Store section. Wearable creators will access royalties for each transaction completed via their NFTs.
Future Events
Decentraland declared hosting its initial Metaverse Fashion Week, a 4-day event featuring multiple global brands, starting 24 March. Customers can experience fashion shows virtually during this event, attend after-party music sessions, and purchase and wear virtual clothing from catwalk avatars.
Decentraland revealed its “22022 Manifesto” on 1 February, triggering genuine euphoria among its community. Meanwhile, the team works on a DAO to improve user experience, allowing users to display NFT wearables within the Decentraland ecosystem.
Image Editorial credit: Sergei Elagin / Shutterstock.com
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