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Businesses and stocks started to dive during the Covid-19 pandemic, and institutional as well as retail investors needed an alternative where they can invest their money and get valuable returns. Ever since the world was hit by the Covid-19 pandemic, digital assets started to gain importance globally. Such has been the success of the industry that today the global market cap has crossed $2.5 trillion in just one year.
Along with the cryptocurrency market, the DeFi space also grew. The total value locked at DeFi today is more than $125 billion. Moreover, millions of Dapps are being launched on various blockchain platforms. This helped to take the price of the DeFi tokens to new heights. So why should the NFT class stay behind? NFTs, according to their supporters, are the future of collectibles and the increasing digital assets’ economy: a way for users to prove ownership of goods, whether physical or virtual, using unique digital tokens registered on the blockchain.
Introduction
One such NFT token which is witnessing a lot of popularity and success these days is Decentraland (MANA). Decentraland is the 3rd-largest NFT token today with a global market cap of $2 billion, and it’s trading at $1.47 at the time of writing. If you look at the graph, you will get a clear idea that the success of the token has been raging. Many investors assume Decentraland has a good chance of increasing its value even more. MANA crypto is viewed favorably by cryptocurrency analysts, who believe the coin has greater growth potential in the future.
Hence, if you’re considering investing in the coin, this article will provide you with a long-term price forecast for Decentraland. This article will give you a quick rundown of the Decentraland price forecast for the years 2021-2025. The goal is to assist you in determining whether it is worthwhile to invest in Decentraland.
What Is Decentraland?
Decentraland is an Ethereum-based virtual environment where you can play, discover, and engage with games and activities controlled by the users. You can also buy land and use it to build your landscapes, marketplaces, and applications. MANA and LAND are the two tokens used in Decentraland. To obtain non-fungible ERC-721 LAND tokens, MANA is an ERC-20 token that must be burned. On the Decentraland marketplace, the use of MANA tokens enables users to purchase a variety of avatars, wearables, titles, and other products.
Decentraland is a platform for content creators, companies, and individuals seeking a new creative medium, market opportunity, or source of entertainment. Besides, Decentraland aims to incorporate blockchain technology in the gaming industry. Its creators believe that every possession, even a virtual one, should belong to the rightful owner and no centralized authority should be able to enforce its will on the owner.
In August 2017, Decentraland concluded its initial coin offering raising approximately $24 million in ETH, BTC, and other cryptocurrencies. The platform has developed over time to provide interactive applications, in-world payments, and peer-to-peer networking for users.
Decentraland and the MANA NFT Token
Decentraland’s operations are governed by two types of tokens. LAND – A non-fungible token (NFT) used to determine ownership of digital real estate land parcels. And MANA – a cryptocurrency used to buy LAND as well as virtual products and services in Decentraland. The latter is the subject of this article.
MANA crypto, which also powers the Decentraland virtual network, is required for all transactions in Decentraland. The initial supply of MANA was allocated as follows: 40% was sold in the initial sale, 20% went to the group and partners (allowances that enabled immediate contact with Decentraland), 20% went to the founding team, and 20% went to the Decentraland base.
The maximum supply of MANA is fixed at 2,644,403,343. Changes to the Decentraland program are possible by a network of blockchain-based smart contacts that enable MANA owners to vote on policy updates, land auctions, and new development subsidies.
How Does Decentraland (MANA) Work?
Decentraland is also one of an increasing number of projects that make governance decisions using a decentralized autonomous organization (DAO) framework. As a result, MANA token holders have a voting right on how the Decentraland universe operates, by proposing and voting on policy changes, the details of future LAND auctions, and the types of content permitted in the Metaverse.
The app uses the Ethereum blockchain to monitor ownership of this digital property. It allows users to keep their MANA token in an Ethereum wallet to participate in its ecosystem. Furthermore, developers have the freedom to innovate within Decentraland’s platform by developing the animation and experiences that users encounter on their virtual real estate.
A Security Advisory Board (SAB) monitors the security of Decentraland’s smart contracts, reviews governance proposals, and responds to bug reports in addition to the DAO. The SAB is composed of five members elected by the Decentraland community. The board has the authority to postpone or refuse governance plans that could have a detrimental impact on Decentraland.
Decentraland (MANA) Technical Analysis
Recap: MANA Price in 2020 and Earlier
People from all over the world donated 86,260 ETH (approximately $25 million) when the MANA token was released in 2017. This was made possible by the collaboration of over 2,000 different customers.
2020 was quite a successful year for Decentraland token MANA. The year 2020 has been a significant one for the Decentraland culture. Decentraland’s contributors have made an amazing variety of features, material, and live events accessible, from the open-sourced World Explorer and DAO to the complete decentralization of the platform’s deepest layers of functionality to some awesome crowdsourced creative competitions. It started the year with a trading price of $0.08, which went to become $0.11 in January 2021.
Factors Affecting Price of MANA
In addition to being a creative outlet, many Decentraland users currently monetize their LAND by leasing, ads, and paid experiences. Other users make money by making and selling products on the Decentraland marketplace in exchange for MANA tokens.
With more users and activity notifications, the Decentraland project is likely to mature. And, the MANA product will begin to deliver consumer-grade solutions. However, this will most likely take some time to complete. The network will most likely have to deal with the burden of a high PMR for some time. And with that, the price of the token will affect greatly.
MANA Price Prediction 2021
In 2021, there’s a lot to look forward to. The Decentraland developer group is working on some important additions, such as tools for creating scenes directly in-world, a desktop client to enhance efficiency and introduce native VR support, and a completely integrated L2 (second-level blockchain) solution for developers, users, and scenes. The price of the token was $0.08, and today it stands at $1.47. And that’s quite an improvement. Therefore, if we look at the charts then it won’t be wrong to say the price of the token might easily cross $2.00 by the end of this year.
MANA should focus on improving its functionality for seamless services, and some social media factors could contribute to the token’s development.
MANA Price Prediction 2022
With the NFT market already flourishing and people understand the potential of crypto tokens, to invest in them, one can expect a lot from this token in 2022. The upward trajectory of the token expects to continue. MANA will launch in 2022 for $4.00, and the token’s value is likely to increase if it attracts advertisers with its specifications and makes it more user-friendly. By the end of 2022, the token will be worth $9.75.
MANA Price Prediction for the Next 5 Years
When it comes to forecasting the long-term price of the MANA token, fundamental analysis of Decentraland is critical. Long-term patterns derived from years of historical price data will aid in forecasting the coming years, but the fundamental analysis is crucial. Users may increase as a result of such collaborations and innovations, and investors may be more interested in investing in it.
As the Decentraland team continues to refine their products and those products receive acceptance from the target audience, one can believe the price of MANA will drop to the $10-$25 range between 2022 and 2025. This MANA price forecast is based on multiple data sets and statistical modeling, with the assumption that the current long-term trend driving the price of MANA continues to rise with no significant setbacks.
Decentraland (MANA) Price Prediction by Market
Decentraland, like every other cryptocurrency, has a high level of uncertainty. This is why it’s useful to be able to forecast MANA’s price and trade accordingly. And, as investment pours in steadily, the majority of cryptocurrency market forecasts are optimistic. Here are a few forecasts by some platforms.
DigitalCoin Price
According to the site, Decentraland (MANA) price will not be downward based on our estimated prediction. In one year, the price of one Decentraland (MANA) could rise to $2.38, nearly doubling from the current price. It also predicts that by the end of 2022, the price of the token will stand at $3.19. They also mention that Decentraland (MANA) is a profitable investment based on our forecasting.
Wallet Investor
The site says MANA can be a lucrative investment choice if you are searching for virtual currencies with a high return. On 2021-05-08, the price of Decentraland was $1.469. If you purchase Decentraland today for $100, you will receive a total of 68.078 MANA. The price estimate for 2026-05-02 is 5.387 US Dollars, based on our projections of a long-term rise. The revenue is estimated to be around +266.71% after a 5-year investment. In 2026, your present $100 investment will be worth $366.71.
CoinQuora
MANA, according to CoinQuora, is in a bullish uptrend. In the best-case scenario, this might also result in a market breakout. MANA must also break through the Fib retracement stage at $1.8 in the short-to-medium term scenario for their 2021 MANA price forecast. It must first develop further support at the Fib level of $1.59 to do so. Bears will gain the upper hand and drag MANA to their territories if this does not happen.
TradingBeats
By the beginning of September 2021, the Decentraland price is expected to hit $1.89945. The highest estimated price is $2.39405, with a minimum price of $1.62795. The end-of-month price forecast for Decentraland is $1.91524. The site also says that the crypto might close the year at $2.46.
Conclusion
Since the cryptocurrency market is highly unpredictable and difficult to forecast in the long run, researching the dynamics and development of Decentraland is critical before deciding to invest some amount of money in the long term to keep for months or years. It’s critical to consider risk and reward when determining if Decentraland (MANA) is a good investment for you. We can forecast MANA prices in the short and long term, but expectations for each must be realistic. Based on the fundamentals of the Decentraland project, we believe MANA will soar in the long run.
And if we look at the charts now, we can say that the future of crypto looks quite happening. The market cap is increasing at a good pace. And with almost all analysis and chart experts in favor of the token, MANA can be called a good investment for years to come.