Decentraland (MANA) is a blockchain based, virtual reality platform that enables developers to build and monetize content and applications. It is powered by Ethereum blockchain. Metaverse is an infrastructure to support the virtual world. It consists of decentralized ledger for land ownership, a protocol for describing the content, and a peer-to-peer network.
Decentraland uses two tokens, which are MANA and LAND. MANA is an ERC-20 token that is burned to obtain non-fungible token, ERC-721. MANA is used as payment which also allow holders to vote on policy updates. While LAND is non-fungible, transferrable, scarce digital asset stored in Ethereum smart contract.
Decentraland Project Investors ($25.5M)
Digital Currency Group, Animoca Brands, Boost VC, Fabric Ventures, Genesis One Capital, Fundamental Labs, George Burke.