MANA up 347% in last 7 days
Leading metaverse platform Decentraland has had an incredible past 48 hours after organizing the Metaverse Festival and seeing Facebook jump into the scene as well. Decentraland’s native MANA token has skyrocketed to an all-time high price, while several land plots have sold for over $100,000 in the last few days.
The MANA token started trending upwards last Thursday, the same time social media giant Facebook announced the overarching company name change to Meta. Facebook thinks the future is in the metaverse, and that’s exactly what Decentraland has been building for years now.
MANA surged from its price of around $0.90 to $3.40 at the time of writing. Saturday morning was where the fun started as the token jumped from $1.31 to $3.72 throughout the day. Importantly, the price has not immediately dipped off as some may have expected. MANA is currently finding support at around $2.70.
Speculators in Decentraland metaverse
Looking at marketplace activity within the Decentraland metaverse we see some notable NFT land sales within the last few days. Two with a value north of $100,000 and a further two around $80,000. Importantly, there are several more. This shows that people were not just popping into Decentraland to take a look around, but that speculators and investors were also present. Scooping up land plots in the expectation that user numbers of the already advanced platform may explode.
Promoters in Decentraland metaverse
After the success of the Metaverse Festival, more virtual promoters are obviously getting in on the act. A further reason for the growing user numbers observed over the last few days could have been a Halloween party thrown at the Sugar Club. A tweet garnered quite a bit of attention as users warm up to the idea of partying in the metaverse. As Covid-19 rules and regulations begin to tighten once again globally.
Facebook pumps the real metaverse
Facebook’s Meta announcement is a tentative link, but it certainly drew a lot more eyes and ears onto a subject DappRadar has been reporting on for a while now. Facebook outlining a vision for the future that pivots around a metaverse setup has got tongues wagging. In some cases, it’s got commentators likening Mark Zuckerburg to the evil Nolan Sorrento in Ernest Cline’s novel, and now Hollywood movie, Ready Player One. He’s the one that’s trying to monopolize the metaverse and enslave people with debt for those that have not seen or read it.
Timing is everything
As one of the more advanced and welcoming metaverse platforms, Decentraland is well placed to benefit from rising awareness and participation in virtual worlds. Furthermore, Decentraland’s Metaverse Festival last week has been a focal point of those championing the subject. Arguably that led to a lot of content over the past few weeks with any hint of a metaverse narrative leading back to Decentraland. The event also attracted participation from mainstream celebrities like Paris Hilton and Deadmau5, while digital artist Fewocious also showed up.
One of the major benefits of the platform is that potential users face very few hurdles to enter, other than having a blockchain wallet like Metamask and a computer. No complex AR or VR equipment is required to jump in. Furthermore, you don’t need MANA, but you can get it below if you wish to go in all guns blazing.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, ADA, MATIC, SAFEMOON, HEX, LINK, GRT, CRO, OMI, USDT, SOL, SHIBA INU, AVASTR, RAY, BOSON, AND OCEAN