The metaverse is enhancing the way we communicate over the internet in an unprecedented manner. Entrepreneurs and tech giants are working towards implementing the virtual world and making it accessible to everyone. Moreover, blockchain technology is improving each day, providing a more energy-efficient environment for these virtual worlds.

This leads us to believe that blockchain-based metaverses like Decentraland might grow exponentially in the following years. To help you understand the opportunity such projects bring, we give you this Decentraland price prediction.

Here, you will learn everything there is to know about the Decentraland metaverse and its main features. We also discuss in detail the digital assets that make this virtual world tick and how all these elements intertwine to provide a gripping virtual world experience. This fundamental research should help us support our technical analysis and provide you with an accurate Decentraland price prediction for the short and long term.

The Rise in Popularity of Metaverses

During the COVID19 crisis, it was the internet that kept our economy running. Thanks to remote work technology, various sectors managed not only to survive but improve by embracing this tech. And with virtual reality becoming more commonplace, the metaverse feels like the natural evolution of the internet.

While the advantages and pitfalls of the metaverse are open for debate, we shouldn’t ignore some of its major enhancements to the ways we communicate. It makes online education, corporate meetings, and gaming, among other things, far more engaging.

The tech industry understands this need for progress and has been working towards making this sci-fi concept a reality. Facebook Meta and Microsoft are already working towards releasing their version of the metaverse. At the same time, top brands like Nike and Adidas have embraced NFTs and are entering the virtual goods universe at full speed.

In this regard, two major tech advancements have enabled this jump forward – blockchain technology and the democratisation of VR tech. Consequently, we have seen some major projects emerge in this niche, with Decentraland being one of the highly acclaimed blockchain metaverses. Being one of the first of its kind, Decentraland has amassed a strong community of creators and users. Moreover, invaluable partners such as Atari and RTFKT Studios (Nike) have joined the platform.

Our Decentraland price prediction will take the expected growth of metaverses into consideration and try to connect the dots with Decentraland’s fundamentals. Let’s get started by explaining the basics behind the project.

What Is Decentraland?

Decentraland is a browser-based 3D virtual world that runs on the Ethereum blockchain. It allows individuals and organizations to purchase virtual land and explore the world with their avatars. They can use this land to build real estate and add various interactive experiences to their virtual land plots. By doing so, it allows them to monetize their investment through microtransactions in the form of MANA tokens, the native cryptocurrency of the platform.

With development beginning as early as 2015, this project pioneered metaverses in the blockchain. Its ICO in 2017 raised more than $24 million in less than a minute, providing ample funds for further development of the game. Some of the best blockchain-based metaverses embraced its business model and are adding their own twist to it. After 3 years of labor, Decentraland’s team launched the mainnet in 2020 as a full-fledged metaverse, owned by the users of the platform.

Initially, the Decentraland Metaverse ran on Ethereum. However, to alleviate the prohibitive gas fees on this network, it partnered with Polygon in 2019. Consequently, Decentraland has become much more scalable over the years, allowing for cheap microtransactions with MATIC.

To continue this Decentraland price prediction, let’s see how all of this works.

What Composes the Decentraland Metaverse?

The Decetraland Metaverse is composed of two underlying assets: LAND and MANA tokens. Both of these are essential to its functioning and comprise the biggest part of the world’s economy.

Decentraland LAND tokens

Decentraland is composed of virtual plots of land, called LAND tokens. These NFTs are ERC-721 tokens that users can purchase and own on the blockchain. Every land plot is a square of 16×16 meters of in-game measurements. While this might sound small for building real estate, it’s worth noting that users can buy adjacent pieces of LAND and form estates. Estates allow creators to let their imagination run freely, as they aren’t as limited by the size of a single plot of land.

An important detail is that only landowners have the ability to create experiences that can be monetized. On LAND, developers can deploy various experiences that require payment in MANA tokens. This way, they can turn their virtual real estate into a full-fledged online business. Various monetization schemes have already appeared in this metaverse, such as virtual casinos, arcade coin-up games, VIP passes, etc.

Moreover, LAND is a limited resource, as there are only 90.601 virtual plots of land available for purchase. So, to no one’s surprise, NFT collectors are very fond of
LAND tokens. Just recently, one plot sold for $2.4 million worth of cryptocurrency.

The MANA Token

The MANA token is the native cryptocurrency of the platform. This ERC-20 token is what drives the entire economy of the metaverse. Creators need MANA tokens to mint NFT wearables and put them on sale on the Decentraland marketplace. Users purchase these digital assets with MANA tokens and can use them as various cosmetic enhancements within the game. These can represent various things, from branded sneakers to limited and unique hairstyles.

Moreover, users can pay with MANA to gain exclusive access to some in-game content. They can also be rewarded to players in play-to-earn schemes within the world.

Finally, MANA is used for the governance of the platform as the Decentraland metaverse is governed as a decentralized autonomous organization (DAO). MANA holders have the power to decide the direction the platform will take. Vote weight is determined by the number of MANA tokens held in one’s wallet. These decisions can vary in scope and can include development directions, partnerships, or upcoming LAND public auctions.

Decentraland’s Main Features

The Decentraland metaverse allows the exploration of its virtual world and provides users with the tools to populate it and make it unique. To this end, it provides four essential elements:

Avatars and Wearables

The avatars are what allow users to connect to, and explore the Decentraland Metaverse. The avatar creator provided on the website provides thousands of different options for creating a unique character. However, users that wish to push personalization even further, can purchase various unique NFT creations from the marketplace.

The platform connects each avatar to an Ethereum address, which means that users can browse their NFT purchases in the wallet of their choice. They can also put them on sale and even make a profit when the asset’s price increases over time.

Builder

Creators can populate the Decentraland world using the builder on their webpage. Less experienced users can take advantage of the enormous library of assets included in the creator and personalize their land. They can add houses, vehicles, foliage, and other various elements to make their plot stand out from the others.

But more importantly, Decentraland is compatible with Blender, a professional 3D modeling tool. This means that experienced 3D modelers can create unique clothing pieces and put them on auction on the Decentraland marketplace. Anyone can start creating NFT wearables, making this a great opportunity for established and up-and-coming 3D artists.

Take a look at the following video that showcases the basic functions of the scene builder in Decentraland.

Marketplace

The marketplace brings all of this together and is the pivotal part of the Decentraland economy. Here, users can buy and sell LAND or wearable NFTs. All of the prices on this marketplace are expressed in MANA tokens.

LAND tokens are all recorded on Ethereum and require ETH for gas fees upon purchase. Most wearables, on the other hand, are registered on Polygon, and require MATIC tokens for transactions.

The Decentraland Game World

Finally, there’s the Decentraland world, in which users can freely run around and discover as they please. The game scenes contain various experiences such as NFT showcases, meetup events, games, and even gambling. People can join virtual concerts and exclusive parties, or watch movies together in in-game cinemas.

You can keep up to date with all the happenings in the metaverse by consulting their official events page. Here, you will find the latest NFT releases, upcoming virtual parties, and new game releases.

MANA Price Prediction – Historical Price Action

For our MANA price prediction to be accurate, it’s of good measure to provide some historical price action. Let’s see what happened to the MANA token since its release on the markets in 2017.

Shortly after release, MANA plunged to reach an all-time low of $0.01. However, the 2017-2018 bull market allowed it to register 3400% gains in a short couple of months, and the price reached a new high of $0.28 per token.

During the bear market that lasted more than two years, MANA lost nearly 95% of its value, While there were some notable rallies that managed to bring some profits to investors, the price never managed to break out of this downtrend.

This downward momentum was finally reversed after the COVID19-related crash when MANA reached a 3-year low of $0.015. A strong 650% rally followed and mana closed 2020 with $0.15 on the counter.

However, the 2021 price rally was even more consequential. In a first wave (+3000%) MANA quickly surpassed its 2018 all-time high and reached $2.4 in March 2021. Even though the price retraced by 70% after this new all-time high, the metaverse craze initiated by Facebook brought another positive price wave for MANA.

By the end of November 2021, MANA was worth $5.95, registering 60.000% since its 2020 lows. The price has consolidated since this new ATH and is now trending around $3 per token.

This allows us to draw a conclusion that MANA tokens are often subject to huge rallies followed by stark price corrections.

MANA Coin Price Prediction 2022

With that analysis in mind, let’s begin our MANA coin price prediction 2022 with some short-term forecasting or 2022.

Considering the current bearish sentiment in the markets, we can predict that the price of MANA will continue its current retracement. By the end of 2021, it could reach as low as $1.5 per token, where the price should finally find some strong support.

From there, the price should bounce back and regain its bullish momentum, once again reaching its previous all-time high of $6 per token. If the bull market persists over the course of 2022, we could see MANA max out at around $10, which could mean a 300% hike from its current price.

And if the coin retains its habit to register harsh declines, it should be trading at around $8 by the end of 2022.

MANA Price Prediction 2025

When providing a MANA price prediction 2025, we should rely more on fundamentals than technical analysis. Technicals on longer timeframes can be deceitful, so instead, we should take the following factors into consideration:

  • Humanity embraces the metaverse as a means for communication, education, and collaboration.
  • Decentraland remains one of the top blockchain metaverses and continues to improve its platform.
  • Additional partnerships with AAA developers and publishers bring more engaging content to the metaverse.
  • Brands start using Decentraland not only to offer virtual items but propose VR shopping experiences where users can order everyday items.

In these cases, MANA could realistically reach as high as $50 per token in the next bull run, and register an x5 growth in the following 3 years.

Concluding Our Decentraland Token Price Prediction

This Decenteraland price prediction managed to go over all of the features of this complex metaverse and the main elements of its economy. While the game itself is still facing some early-life issues (lag, disconnects), Decentraland is already a fully functional metaverse. Developers and creators continuously provide new content, and the world can only grow from here.

Just keep in mind that the price of MANA can considerably fluctuate, so ensure that you aren’t subjecting yourself to FOMO and buying at a local market top. And even though our Decentraland price prediction is bullish in the long term, remember to always make your own research before investing.