Should I buy Decentraland (MANA) in 2021?

in LeoFinance2 months ago

Should I buy Decentraland (MANA) in 2021?

Yes, you should buy MANA because the play-to-earn industry is booming and Decentraland is the most prominent crypto play.

Within the first 5 months of this year, Decentraland (MANA) saw an increase of over 2,000%.

The price of the token moved from $0.08 as of January 1st, 2021, and in 5 months, it reached an all-time high of $1.63.

Projections for 2022 see it getting up to an average of $8 and depending on how the entire industry continues to play out, potentially a lot higher again.

You could successfully dip your toe into MANA now and hodl.

Or even invest in the real estate-stye game with the goal of earning substantial sums in form of accessories and land in the next 3 years.

Our Decentraland (MANA) guide has already shown that investing in the project for the long term might be the best decision you could ever make.

A concept that we explore further in the final section below.

What's Decentraland (MANA) up against?

Decentraland (MANA) has limited competition.

Its virtual gaming properties are currently widely adopted as a means of investment in virtual real estate that can be held or sold as they appreciate in value over time.

Although Decentraland (MANA) is currently back to its level playing field in prices, it still maintains its position as the second-largest blockchain game, just behind Axie Infinity.

Recently, a plot of land on Decentraland was sold at the highest price recorded.

Almost a million dollars!

This purchase was made on 16 acres of digital land by Republic Realm, a real estate investment firm.

And while the game can be played for free, getting started requires the purchase of land which costs around $4,000 at the time of writing, or alternatively a range of other accessories within the game.

Who's buying it?

Decentraland (MANA) has a large market cap of about 1.8 billion and its users have been on the increase.

However, the circulating supply of 1.82 billion tokens has so far kept the bears at bay.

We’re starting to see Decentraland having actual utility, thanks to companies like Sotheby's Auction House making it possible for their followers to purchase items from their store using MANA.

Decentraland (MANA) has huge potential through its NFTs and retail market.

Through its own market, users will be able to buy NFTs of certain products - A designer shirt, for instance, while even in some cases being able to exchange that digital item for a physical accessory in the real world.

Decentraland is going to allow the digital and real worlds to overlap like nothing we’ve ever seen before.

Once you consider the potential of this overlap, you’ll quickly come to the conclusion that virtual malls are just a small part of what can be built in the Metaverse via Decentraland.

The only reason to be wary about investing in Decentraland (MANA) is the cryptocurrency volatility

Although those who invested in January have already registered massive gains, those who invested before the crash in May made some huge losses.

However, isn't that the beauty of cryptocurrency?

Volatility is the risk every crypto investor knows about before investing and a long-term investment is the surest way to avoid short-term heartaches.

While Facebook’s rebranding to Meta has seen the space pump in the short term, there’s no doubting the long term potential of the metaverse, with Decentraland sure to play its own massive part.

Final verdict on whether you should buy Decentraland (MANA) in 2021

It’s true that Facebook is an unmatched rival of Decentraland (MANA).

Although Zuck himself claims to be the king of the Metaverse, the reality is that Decentraland (MANA) is already way ahead of the game.

A long-term investment in Decentraland (MANA) is likely to turn out to be a savvy play.

The average projection for 2022 is $8, with an all-time high of $10 and a low point of $7.

Yeah, we know not to trust the predictions completely but with the already large market cap and the increase in utility, this token may well be headed to the moon.

Whether that’s the physical moon or virtual moon, we’ll leave up to you to decide.

Best of probabilities to you.

Direct from the desk of Dane Williams.

Why not share a chart or leave a comment with your opinion on whether you should buy Decentraland (MANA) in 2021. All comments that add something to the discussion will be upvoted.

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Wasn't MANA on ETH? I avoid it because I don't really want anything to deal with ETH and fees.

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I'm pretty sure they are making use of the Polygon sidechain to reduce gas fees.

Yep, this is correct:

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Wasn't MANA on ETH?

Is MANA an ERC20 token?

MANA is Decentraland’s ERC20 token, so yes it's on Ethereum.

Decentraland actually uses two tokens:

  1. MANA
  2. LAND

MANA offers users of Decentraland the ability to purchase LAND (as well as goods and services), from other users.

This is done by burning MANA (the ERC20 token), to acquire LAND tokens, which are essentially NFTs.

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Sounds like a very good idea. Was just focused on SAND, but I will consider MANA

I'm just finalising the content for our Decentraland (MANA) vs The Sandbox (SAND) comparison section of our guide.

Before I wrap it up, I'd love to hear your thoughts or opinions on how you've found SAND?

Anything you could add would be a great help :)

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That’s cool. I will like to read yours. I find SAND to be great being the token for the metaverse play to earn platform. I’m being stacking up because of its utilities and how the world is small steps closer to making the metaverse a reality soon.

Meterverse: SAND Token Pumping Like Crazy

My opinion on SAND

Very, very interesting Dane. I don't know how you find these projects. You're like a crypto ninja 🐱‍👤😁

I wish I had more money to invest in this also. I feel like I want to invest heavily in Hive at the moment but thanks for bringing these projects to our attention. Keep doing that please.


Haha, a crypto ninja! - I like that!

I'm enjoying helping LeoFinance build out their crypto content base via Crypto Guides.

I'm learning a lot myself, so everybody wins :)

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I never new that the decentraland was this big
But sound like a good idea to start buying before the pump again.

You can look at it one of two ways.

  1. That MANA has pumped too early, purely riding on the metaverse hype that Facebook has created in the media.
  2. That as the leading crypto metaverse project, MANA still has a lot more upside so should be bought on the first pullback.

Up to you!

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Feel like I missed the bus on MANA, but keep an eye on it. I have a feeling it will be down a lot before it reaches those nice numbers mentioned above. Buy the dip.

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