Should You Buy Decentraland (MANA)?
Is Decentraland’s MANA a Millionaire Maker Coin?
Have you been wondering about the possibility of investing in Decentraland (MANA) based on its impressive returns? Well, you should know that Decentraland is not only one of the most popular virtual reality platforms in the NFT Marketplace. Its novel token, MANA, is a top 35 digital asset.
This article takes an extensive look into Decentraland, its core areas of business - and most importantly, for prospective investors - the pros and cons which can help answer the question: Should You Buy Decentraland’s MANA?
Decentraland (MANA) is one of the DeFi coins that continue to gain traction online. At the time of writing, there are 16,792 cryptos across 456 exchanges. This is the primary reason why it is impressive for MANA to have returned 11,054.35% for long-term holders who sold the coin at the right time due to the saturation of the market. At the time of writing, Decentraland’s MANA has returned 2,535.15% for a year. Just like AAVE (Aave), YFI (Yearn Finance), COMP (Compound), MATIC (Polygon), and UNI (Uniswap) play the role of governance token that oversees activities on their respective platforms, MANA is a novel token that powers the ecosystem of Decentraland.
It is a known fact that cryptocurrencies fall into the category of a highly volatile asset class. This is the primary reason why the volatility of MANA coupled with the returns it can bring can be taken advantage of by Non-Fungible Token (NFT) fans, Decentralized Finance (DeFi) enthusiasts, Value Investors, Day Traders, and experts in Cryptocurrency. MANA may just be the missing digital asset that is needed to transform your portfolio.
With the craze of 2021 leading to the NFT mania, will Decentraland (MANA) go up? With a bullish engulfing around the cryptocurrency market, how much will Decentraland (MANA) be worth in the future? With the opportunities Decentraland presents businesses, can you make money on Decentraland? After Boson and Republic Realm purchased virtual lands for $704,000 and $913,000 respectively, should I buy land on Decentraland? With credible and authentic analysts and experts forecasting MANA to reach new price milestones, is Decentraland (MANA) a good investment?
Most importantly, for novice traders and investors - what are the pros and cons which can help answer the questions: Should You Buy Decentraland?
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- Decentraland at a Glance
- The PROS of Buying Decentraland (MANA)
- The CONS of Buying Decentraland (MANA)
- Where Can I Buy MANA / How To Invest in MANA?
- MANA Price Prediction: What Are the Analysts Saying about Decentraland’s MANA?
- The Bottom Line - Should You Buy Decentraland’s MANA?
Decentraland at a Glance
In this section, we are going to have an extensive overview of the history of Decentraland. In simple terms, what is Decentraland, the history of Decentraland, how many Decentraland (MANA) coins are there in circulation, and the price performance of MANA from September 2017 to date?
The History of Decentraland
Decentraland was founded by Esteban Ordano and Ariel Meilich in 2017. After the success of Ethereum as not merely a blockchain technology that followed the path of Bitcoin to create Ether (ETH) which was used as a transactional currency but powering decentralized applications, the two took notice.
After taking into consideration the huge sums of money needed to buy lands as well as the collateral needed to take loans from commercial banks for the creation of businesses, Esteban and Ariel decided to create Decentraland. They decide to design an innovative technology that allows users to play games, create a business and sell it outright or monetize it for passive income, go on a shopping spree, buy property, socialize and chat with friends and strangers, and as well design landscapes.
An initial coin offering (ICO) took place and $24 million was raised in the space of 35 seconds. At the time, it was slated as one of the most successful ICOs ever held. After embarking on several developments on the platform, the founders launched the closed beta of Decentraland in 2019. After successful tests, Decentraland was finally released to the general public in February 2020.
What Is Decentraland?
According to CoinMarketCap, Decentraland is a virtual reality platform that is powered by the Ethereum blockchain. It allows users to create, experience, and monetize content and applications. Decentraland allows its users to buy virtual property and develop them as a business. On its official website, Decentraland points out that it is a platform where users can create, explore, and trade in the first-ever virtual world owned by its users.
Several blockchain protocols have a single layer, some have two and others have four, Decentraland has 3 layers. This comprises the consensus layer, content layer, and real-time layer.
Decentraland has two tokens at its disposal which are LAND and MANA. LAND is a non-fungible token (NFT) with unique features. Once you own LAND, you have absolute control of all the contents that have been published on a particular portion of the Decentraland world. MANA is a fungible token with interchangeable features. This means that 1 MANA is the same as the other. MANA is used to pay for goods and services on Decentraland. Aside from this, MANA is the primary ticker symbol of Decentraland. On the various cryptocurrency exchanges and brokerages, the value of the whole project is written next to MANA.
What Is The Purpose Of Decentraland?
Decentraland was built to make lands accessible to millions of people.
You do not need to fork out any sums of money to use the platform or download services. Decentraland, like several applications online, is web-based, very easy to access, and offers users opportunities that are impossible in the real world to earn from their creations on the platform.
How Many Decentraland (MANA) Coins Are There in Circulation?
At the time of writing, there are 1.82B MANA in circulation from a total supply of 2,193,889,127 MANA. This means that 75% of the coins have been taken from the total supply leaving out 25% up for grabs.
Decentraland (MANA) Price Performance in 2017
As per data retrieved from CoinMarketCap, Decentraland’s MANA appeared on cryptocurrency exchanges on 17th September 2017. Since that day, the crypto trading asset has been through bullish seasons and has experienced bearish declines as well. Overall, it has done well in avoiding extinction zones that other alternate coins succumbed to.
MANA began 17th September 2017 with an opening price of $0.03 and closed at $0.02. It recorded an impressive trading volume of $688,849. The market outlook of cryptocurrencies towards the end of 2017 was extremely bullish. Bitcoin crossed $20,000 for the first time and altcoins such as MANA followed. MANA closed the 3rd quarter of the year and its first trading month on 30th September 2017 by dropping to $0.01. In the 13 days of trading, MANA shed 66.6667% of its opening price in September.
Although there was a plunge in price, MANA was still an attractive investment since investor confidence was high. This was evident in the trading volume at the end of September which stood at more than $250,000 and culminated in a market capitalization of $16,460,955.
On 1st October 2017, the native asset of Decentraland opened at $0.01, and with a strong crypto boom that had not been witnessed before followed other altcoins to increase in price. On 1st December 2017, MANA opened at $0.02, settled at $0.10 on 31st December 2017, had a trading volume of $22,450,300, and a market capitalization of $230 million.
Overall, MANA returned 233.333% for investors in 2017.
Decentraland (MANA) Price Performance in 2018
The new all-time highs tested by cryptocurrencies prompted several regulatory bodies to take decentralized finance seriously. As a result, a country like Japan that was extremely welcoming of cryptocurrencies after it allowed Chanpeng Zhao’s Binance to set up offices on its mainland decided to ban cryptocurrencies that showed anonymity. Considering the whole idea of cryptocurrencies is to take control of the financial activities of billions of people away from central banks, Japan was following China in cracking down on digital assets. Aside from this, the crypto bubble burst. After testing new price milestones, a huge sell-off followed that saw a plummeting of price to new high lows.
Decentraland’s MANA opened on 1st January 2018 at $0.10, reached an intraday high of $0.11, reached a day low of $0.09, and finally settled at $0.10. In January, the market maintained the momentum from 2017 and increased slightly in price. This saw MANA command prices of $0.15 and $0.18 in the middle of the month. On 31st January 2018, with an impressive trading volume of $21,310,900 that took the market value of the crypto to $133 million, MANA closed at $0.13. In the process, in the space of 30 days, MANA increased by 30%.
With diminishing trading volumes, the price of MANA began to go down. MANA opened at $0.10 on 1st March 2018 and closed on the 1st quarter of the year on 31st March 2018 at $0.07. The relatively lower prices caused new investors to patronize the cryptocurrency. MANA began the 2nd quarter on 1st June 2018 at $0.1 and maintained the same price on the last day of the month. By the start of the 3rd quarter on 1st September 2018, MANA had begun to dip in market capitalization which stood at $81,595,530 with a diminishing trading volume of $3,682,890.
MANA opened at $0.08 on 1st September 2018 and maintained the same price on the last day of the month. With trading volumes falling to as low as $1,961,467 on 31st December 2018, the native asset powering the economy of Decentraland closed the year with a trading price of $0.05.
In the process, MANA shed 50% of its opening day price for 2018.
Decentraland (MANA) Price Performance in 2019
The year 2019 was billed as a year of recovery for cryptocurrencies since prices reached new high lows. Several experts felt an uptrend could ensue which could take prices of digital assets from the new high lows experienced to new high highs. Parent crypto Bitcoin (BTC) was able to recover some of its losses for its holders. Unfortunately, MANA couldn’t follow suit and instead shed more of its valuation.
The novel token of Decentraland opened at $0.05 on 1st January 2019, reached an intraday low of $0.04, and closed the day at $0.05. With investor interest skewed towards the south, the price of MANA continued to drop and reached $0.03 on 31st January 2019. Trading volume spiked and MANA eventually opened and closed on 31st March 2019 at $0.06 to end the 1st quarter of the year.
Investor interest soared to $22 million on 1st June 2019 and many people felt that MANA could soar and cross the $0.2 price milestone but it dropped to $0.05 to end the 2nd quarter of the year.
The crypto trading asset began to show signs of a decline in July when it retested $0.04 and declined further to $0.03 on 31st August. MANA gave in to the bearish outlook of its price and closed the 3rd quarter of the year on 31st September at $0.03.
After declining to $0.02 in November and the early days of December, the digital asset closed the year on 31st December 2019 at $0.03. The value of MANA dropped to $31,650,090.
In the process, MANA shed 40% of its opening day price for the year.
Decentraland (MANA) Price Performance in 2020
There have been market crashes in the 1930s, 1980s, and 2008 when the world was struck with the global economic crisis. In 2020, the world was brought to a halt and all activities related to humanity were stopped. The coronavirus pandemic led to a market crash. Fortunately, MANA was one of the few altcoins with a relatively lower valuation that did not go extinct. The cryptocurrency performed well throughout the year and brought positive returns to its holders.
Decentraland’s token opened at $0.03 on 1st January 2020, reached an intraday high of $0.03, and closed at $0.03. Signs of a great year engulfed MANA as it closed at $0.04 on 31st January with an increased trading volume of $8,138,270 and a market capitalization of $37,114,502. MANA maintained January’s closing price on 29th February 2020. With the peak of the pandemic taking hold of the market in March and April, MANA closed the months at $0.03 and $0.03 respectively.
The price of $0.04 was maintained through May and June with an increasing market cap which was attributed to the pouring of liquidity into the market by unsophisticated traders and investors buoyed by the distribution of the 1st stimulus package in April 2020.
In July, MANA retested $0.05 and in August retested $0.06, $0.07 and closed on 31st August 2020 at $0.10. Decentraland ended the 3rd quarter of the year at $0.08 with the value of the crypto surpassing $100 million again.
With talks of the 2nd stimulus package to hit the accounts of United States citizens in December, thousands poured more liquidity into the cryptocurrency. MANA opened on 1st October at $0.08 and closed on 31st December 2020 at the same price.
In 2020, MANA returned 166.667%.
Decentraland (MANA) Price Performance in 2021
The year 2021 has been a year for cryptocurrencies, decentralized finance (DeFi), and non-fungible tokens (NFTs). There have been new all-time highs reached by more than 90% of the cryptos in the market such as Bitcoin, Binance Coin, Ether, Cardano, Ripple, and EOS among others. MANA has not been left behind.
MANA opened at $0.08 on 1st January 2021, with investor interest soaring through the roof represented by $45 million on 31st January, MANA closed the month at $0.15, with a market capitalization of $237 million.
The crypto trading asset crossed $0.20 and $0.30 for the 1st time in February and closed the month at $0.24. MANA opened at $0.24 on Monday, 1st March 2021, and closed on 31st March 2021 by crossing the $1 price milestone and eventually settled at $1.03.
MANA opened at $1.03 on 1st April, reached an all-time high price of $1.63 on 17th April 2021, and closed at $1.49 on 31st April 2021. The crackdown on cryptocurrencies by China and Elon Musk’s constant tweets led to a plunge in digital assets in May and June that saw the crypto token trade for a coin at $0.85 and $0.58 respectively. In October MANA topped its all-time high with a price of $4.69, only to grow even more in November and reach its current ATH of $5.90.
Despite the trading at 51% less than its all-time high, several analysts and experts across many crypto news and prediction portals expect MANA to command relatively higher prices in the future. What are the primary drivers behind such bullish sentiments? Would there be a bullish engulfing for the cryptocurrency market in the future? To better understand this, let us look at the pros and cons of investing in Decentraland (MANA) that will help you decide on the digital asset.
The PROS of Buying Decentraland (MANA)
What Are The Positives Of Investing In Decentraland (MANA)?
You must be informed based on fundamental analysis before deciding on MANA or any other cryptocurrency. Relying on just news feed from social media or newsletters from a financial advisory platform you have subscribed to could lead to financial ruin. Because of this, let us take an in-depth look into the pros of investing in Decentraland (MANA) that could make it a good investment in the short and long term.
✅ Decentraland Thrives On the Experience of Its Founders
With more cryptos being added to the market daily, a project must benefit from the foundation put in place by its creators. Some projects looked great on their respective whitepapers. Unfortunately, they are not part of the discussion as to where decentralized finance (DeFi) or non-fungible tokens (NFTs) are headed. This is the primary reason why Decentraland’s success in part can be attributed to Ariel Meilich and Esteban Ordano.
As a serial entrepreneur, Ariel Meilich has been involved in several startups under the financial technology (FINTECH) umbrella. He has been extensively involved with the creation of a translation agency as well as Customer Relationship Management (CRM) platforms.
Unlike Ariel who has extensive experience in several business sectors, Esteban Ordano is a cryptocurrency, blockchain, and decentralized finance enthusiast. He has worked across crypto circles such as BitPay Incorporation. Aside from that, he also served as an advisor to the MATIC Network which is now called Polygon. What’s more, he operated a smart contracts development firm called SMART CONTRACT SOLUTION and he helped found a blockchain technology infrastructure company called ZEPPELIN.
Although the two founders are not directly associated with the project anymore, they form a strong basis on which Decentraland thrives to form great partnerships. It is through their expertise that fans and holders of the tokens get information about events on the virtual reality platform. Using social media platforms, Twitter, and as well their official website (decentraland.org), every activity and partnership is communicated to the general public.
With their expertise in blockchain technology and business in general, they would use their contacts to help with the future of the project when called upon to. Moreover, some of the foundations they have put up could positively impact the overall valuation of the cryptocurrency.
✅ MANA Is Relatively Cheaper Than Competing Cryptocurrencies
The price of an asset plays a key role in the amount of liquidity it can see in a period. In August 2020, Tesla (TSLA) crossed $2,000 per share. This made it difficult for small-time investors to patronize the cryptocurrency.
As a result, the Board of Directors of Tesla approved and declared a five-for-one split of TSLA. The primary reason for this decision was that ownership of Tesla stock should be more accessible to employees and investors. From 31st August 2020, TSLA began trading above $400. This saw renewed interest in the asset by millions of people who continued to pour more liquidity into the asset. This saw TSLA trading volumes soar as a result.
With the decision of TESLA as a thesis to support the argument of MANA being relatively cheaper, MANA is affordable and could bring in more investors quickly. The same cannot be said for high-priced cryptocurrencies such as Bitcoin (BTC), and Ether (ETH). The two most popular and largest digital assets have been trading below $43,000 and $3,500 respectively because of a lack of huge institutional investments.
With that said, in the space of Non-Fungible Tokens (NFTs), competing tokens of virtual platforms are relatively higher than MANA.
Enjin Coin (ENJ) has a price of $2.44; Bakery Token (BAKE) commands a price of $0.92, Flow (FLOW) has a price of $7.82, Axie Infinity (AXS) has a price of $75.40, LUKSO (LYXe) trades for a coin at $14.78, My Neighbor Alice (ALICE) has a trading price of $10.77, and Ethernity Chain (ERN) trades at $8.01. Additionally, projects such as Rarible (RARI) trade at $13.32, Dego Finance (DEGO) has a trading price of $5.52. Moreover, Bounce Token (AUCTION) trades for a coin at $19.99, and Nftx (NFTX) commands a price of $128.46 at the time of writing.
With MANA being extremely accessible across cryptocurrency exchanges such as Binance, Coinbase Pro, eToro, Huobi Global, and OKEx, the digital coin can be found by millions. With more activity on the cryptocurrency, trading volume will increase and take MANA from a small-cap asset to a medium-capped and later large-cap asset.
✅ Controls a Great Part of the NFT Market
According to Sanbase in July 2021, the entire Non-Fungible Token (NFT) market was worth $6,629,221,216. Decentraland was worth $929.78 million. Using simple percentages, MANA controls 14% of the NFT space. Only Enjin Coin (14.073%) and Chiliz (CHZ) (20.97%) are above MANA when market domination comes to the discussion table.
This means that with more creative events happening on Decentraland throughout the months leading up to the end of 2022 and beyond, MANA will continue to spike in price. This is the primary reason why you should consider investing in Decentraland (MANA). Extensive adoption and usage across Ethereum and Polygon will lead to great demand by sophisticated and unsophisticated traders and investors.
✅ MANA Is Deflationary
When we say a cryptocurrency is deflationary, this means that there is a set of tokens created and that limit is never adjusted upward. After the project was launched, the original total supply was capped at 2.8 billion MANA tokens. This figure was reduced by more than 600 million MANA tokens due to the burning of MANA which was used in LAND auctions. As a result, the current total supply of MANA stands at 2,193,889,127. With deflationary tokens, even as demand increases, supply does not.
To better help you understand, MANA is the complete opposite of meme-inspired currency Dogecoin (DOGE). Founders Billy Markus and Jackson Palmer decided to make the tokens inflationary. Under this process, as more people demand DOGE, more tokens are created to meet the demand of the cryptocurrency. This is the primary reason why several investors continue to see the cryptocurrency as a JOKE coin that would never reach certain price milestones in the short or long term.
With a thorough understanding of inflationary and deflationary tokens, you can now predict the future price patterns of MANA. Because supply stays the same when demand increases, investors would have to purchase Decentraland (MANA) at whatever price holders are selling it for. Once this happens, as per the basic laws of demand and supply, the price of MANA will increase significantly to price milestones no expert or analyst could ever envision.
✅ MANA Continues To Gain Exposure through Activities on Decentraland
On Saturday, 3rd July 2021, it was announced by Tim Hakki of Decrypt that Decentraland will host one of Ethereum’s first music festivals. This music festival will be coming off on Sunday, 11th July 2021. This would be made possible by three-way collaboration between crypto consultancy firm BEAR NFT, NFT marketplace KnownOrigin, and NFT tastemaker collective ILLUMINO.
Live performances by electronic music acts such as Win & Woo, SNBRN, Ookay, Autograf, and Fred Thurst (aka Dr. Fresch) would be on KnownOrigin’s Virtual headquarters on Decentraland. Attendees of the program will be able to buy exclusive products such as virtual hats, bomber jackets, and clothes. Since MANA oversees all activities related to the virtual reality environment, the cryptocurrency will be involved in thousands of transactions.
In the future, if more events are held in the virtual headquarters of other corporations, you can be rest assured that more MANA would be burnt. This is because they would have to use MANA to buy LAND. After that, users would have to spend MANA to be able to enjoy being a part of a live entertainment event. In the long term, this bodes well for MANAs price.
✅ Decentraland’s Celebration of ART WEEK 2021
On Thursday, 1st July 2021, it was announced that Decentraland will be celebrating its metaverse’s annual celebration of digital arts. ART WEEK 2021 is kicking off on Thursday, 8th July 2021 at Vegas City Arts Village. Artists such as Philip Colbert with his Lobster Land will feature strongly. Throughout the week, there would be numerous activities and some of them are the grand opening of the Portion Museum in Voltaire District. Others include iconic brand teams for the Miami Beach Art Collection that features works by MBSJQ, REKODE, Ayla El-Moussa, and Jon Noorlander. More on the activity can be found here.
Such activity is being organized not only to expose the works of artists but Decentraland as well. As more arts and other creations are displayed, users would have no option but to buy. Since MANA is the only cryptocurrency integrated on the virtual land, it would be used continuously throughout the 10 days the program will be held. This will take the price of MANA north.
✅ MANA Continues to See Great Investor Interest
Investor interest is highly essential and it’s normally shown through trading volume. MANA experienced its highest trading volume of $2.8 billion on 13th March 2021. It continues to see more than $100 million in volume daily. This means that despite the crackdown on cryptocurrencies which has impacted DeFi and NFTs, MANA continues to have the trust of traders and investors. Once volume continues to go up, the price of the native asset of Decentraland will continue to move towards an UPTREND.
The CONS of Buying Decentraland (MANA)
What Are The Negatives Of Investing In Decentraland (MANA)?
Do not base investments on just the positives. As a trader or investor, you should do all you can to research the risks associated with investing in MANA. Some experts have opined that there is too much competition in the NFT space, Decentraland is still in a developmental phase, and many people do not understand the entirety of decentralized finance, let alone non-fungible tokens. Aside from these, what are the other pitfalls of Decentraland? Let us look at the cons of investing in Decentraland (MANA)?
❌ Competition with Mainstream Corporations
Inasmuch as the world is gradually embracing the virtual reality of all forms, many people still believe in physicality. It is great to see a platform that could help people create legitimate businesses and make enormous returns. It is great to see human beings purchase virtual lands with a relatively smaller sum of money, develop it and monetize it for profits. With that said, millions of people are used to real-world real estate development and earning passive income through that resource. Millions are also interested in creating legitimate businesses through software developers and having a physical infrastructure that represents a firm among others. Decentraland is doing all it can to command a huge user base. Even with that, it still has to compete with other NFT Marketplaces for customers. In the long term, millions of people prefer dealing with people they can see and use cash as a medium.
❌ Regulatory Concerns
A major crackdown could be on the cards. As we have seen through the actions of the Financial Conduct Authority (FCA) of the United Kingdom on Binance, regulation may not be direct. Instead, authorities can cripple cryptocurrency exchanges. This would make it difficult to access mainstream cryptocurrencies and DeFi coins. Once this happens, millions of people would opt out of cryptos for other less-volatile assets. This could impact MANA negatively.
❌ Cryptocurrencies Are Still Dominated by Bitcoin
It doesn’t matter the partnerships, deployments, sales, volumes, and usage rates of Decentraland. Its novel token, MANA more often than not, would always follow Bitcoin in good and bad times. Once MANA achieves some form of independence against BTC, price forecasts made on the digital asset could become certain instead of a mere possibility. Bitcoin is the most popular and largest digital asset out there. Once there is major news that plunges the digital gold to less than $30,000 in the short or long term, MANA and the other altcoins would surely follow the parent crypto into new high lows or even extinction.
Where Can I Buy MANA / How To Invest in MANA?
Several exchanges list MANA. As an e-learning organization, we would like to recommend eToro for you. eToro serves millions of customers and would love to add you to their clientele. Follow the steps below and you would be on your way towards investing in Decentraland (MANA).
The first step is to create an eToro account.
The second step is to verify your account by uploading a government-issued identification card.
The third step is to upload funds. You can choose from a range of options that meet your demands.
The fourth and final step is to navigate to the MANA Page. On this page, you can buy several MANA coins based on your investment budget. It would be processed and added to your account.
MANA Price Prediction: What Are the Analysts Saying about Decentraland’s MANA?
There are several price forecasts online. Trading Education has researched extensively across credible forecasting websites. We have found answers to questions such as MANA Price Prediction 2022, MANA Price Prediction 2023, and MANA Price Prediction 2025. To put it simply, how much could MANA be worth?
According to Gov. Capital, MANA could reach a regular trading price of $4.678, the lowest possible price of $3.9763, and the best possible price of $5.3797 by the end of 2022. The experts believe MANA could reach the best possible prices of $7.51065 (2023), $10.2465 (2024), $12.7006 (2025), and $15.9827 on 31st December 2026.
According to Wallet Investor, MANA could reach an average trading price of $5.411, the lowest possible price of $4.882, and the best possible price of $5.915 by the close of 2022. The experts further forecast MANA to reach the best possible prices of $8.750 (2023), $11.747 (2024), $14.858 (2025), and $18.063 in 2026.
According to Digital Coin Price, MANA could command trading prices of $3.81 by the year’s end of 2022, $5.06 (2023), and $3.8 to close out 2024 in the short term. In the long term, the experts believe Decentraland (MANA) could command prices of $6.09 by the end of 2025, $6.23 (2026), $7.04 (2027), and $10.74 on the last day of 2028.
Don't Miss: Decentraland (MANA) Price Predictions
The Bottom Line - Should You Buy Decentraland’s MANA?
Yes! Although bullish forecasts have been made, you should understand that more than 95% of investments come down to two essential factors. They are risks and rewards.
After going through the pros and cons of investing in MANA, do you think the potential rewards of investing in MANA exceed the possible consequences of the risks?
Decentraland will always have competition in the real and virtual world. Aside from this, the future of the cryptocurrency market is unknown. MANA, like other alternate coins, is tempted to follow BTC which may lead to its demise at some point in time.
On the other hand, MANA continues to benefit from the foundation of its creators. It is highly accessible, affordable, and continues to see liquidity through the unending activities on Decentraland. With MANA being a deflationary token, the cryptocurrency could become scarce in a relatively shorter period than we could imagine. This could cause a rally in the price of the crypto trading asset.
So, is Decentraland a Good Investment? YES! It has returned more than 600% year-to-date, it controls a substantial part of the NFT Marketplace, and could be the missing digital asset needed to transform your portfolio. Should I Buy Decentraland (MANA)? With the price forecast of CoinPedia under perspective, buying MANA could place you among few investors who could see at least 300% gains by the end of 2021.
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Will Decentraland (MANA) Go Up?
Decentraland could go up if it continues to be adopted by mainstream corporations in the arts sector of the global economy. Since it’s highly accessible across several cryptocurrency exchanges, more people will buy MANA with a keen interest in the possibilities of Decentraland.