{"id":160861,"date":"2021-01-22T21:44:52","date_gmt":"2021-01-22T18:44:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nft-boom-and-platform-upgrades-back-decentralands-mana-100-rally\/"},"modified":"2021-01-22T21:44:52","modified_gmt":"2021-01-22T18:44:52","slug":"nft-boom-and-platform-upgrades-back-decentralands-mana-100-rally","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nft-boom-and-platform-upgrades-back-decentralands-mana-100-rally\/","title":{"rendered":"# NFT boom and platform upgrades back Decentraland\u2019s (MANA) 100% rally"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2645bc07f6e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2645bc07f6e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nft-boom-and-platform-upgrades-back-decentralands-mana-100-rally\/#New_features_attract_new_users\" >New features attract new users<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># NFT boom and platform upgrades back Decentraland\u2019s (MANA) 100% rally <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>In the past year non-fungible tokens (NFT) have been gaining ground as the digital art market exploded and developers experimented with a variety of use cases. Data from NonFungible shows that over the past 30 days there were 58,400 NFT sales and $12.7 million worth of volume.<\/p>\n<p>In the same time period, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/coin\/decentraland-mana\">MANA<\/a>, the token behind the blockchain-based virtual world Decentraland, totaled $636,000 in NFT trades. The virtual reality platform is built on Ethereum blockchain and provides a digital landscape where players can explore, interact with other players and purchase landplots along with other items.<\/p>\n<p>The sector is dominated by crypto-collectibles and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s like Cryptopunks, Sorare, Art Blocks, and Axie Infinity. These collectible NFTs range from virtual cards of professional soccer players to crypto-art and crypto-pets.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/83aa0348-e5a9-468b-ba6c-edb58ef9992d.png\"><figcaption style=\"text-align: center;\"><em>MANA\/USDT 4-hour chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>During the first weeks of 2021 MANA rallied by 68%. In addition to this, some positive <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of real-world authors entering the industry put some heft behind the current rally. For example, the creator of Rick and Morty will auction off some of his digital artwork on Jan. 19.<\/p>\n<p>In the past 30 days MANA token traded $368 million in transparent volume according to data from Nomics and this represents a 257% increase from the previous month.<\/p>\n<p>Recently, the average value and number of trades in the Decentraland marketplace has declined to about 20 per day and 70% of the sales are land and virtual properties. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/d757843f-a741-433a-a8af-fad5115f18e6.png\"><figcaption style=\"text-align: center;\"><em>Decentraland marketplace daily transaction history. Source: NonFungible.com<\/em><\/figcaption><\/figure>\n<p>Non-fungible LAND tokens represent an individual&#8217;s ownership of land parcels. These tokens contain data like the coordinates for the land and virtual properties. Over the past four months, the largest transaction was worth nearly $150,000.<\/p>\n<p>It is worth noting that MANA tokens are used to purchase in-game goods and services and are also used to settle the fees generated by LAND transactions.<\/p>\n<p>A decentralized autonomous organization governs Decentraland (DAO), and all changes to the code are enacted through a collection of smart contacts. The MANA token allows holders to vote on policy updates, land auctions, and subsidies for new developments.<\/p>\n<p>An interesting feature is that joining this virtual world does not require <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">download<\/a>s, as the platform is web-based. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"New_features_attract_new_users\"><\/span>New features attract new users<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the past few months, Decentraland evolved to implement interactive applications, including payments and peer-to-peer communication.<\/p>\n<p>A non-custodial, transparent, and auditable Virtual Casino is also being built in Decentraland. In this space players can use either MANA tokens or DAI stablecoin and another unique feature is that there are no Ethereum gas fees as the transactions take place on a second layer via the Matic network. Although limited games are available, poker and more complex games are being developed.<\/p>\n<p>On Dec. 17, 2020, a voice chat feature was added. This allows users to interact with each other while scrolling through the virtual world, and it replicates the type of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> interaction gamers are used to from major platforms like PlayStation and Xbox. <\/p>\n<p>Decentraland launched its LAND API version 2.0 on Jan. 20, and this upgrade focused on improving marketplace metadata access. The update added endpoints that return more digestible information for those building tools that need data about LAND parcels and estates.<\/p>\n<p>Lastly, Non-Fungible Token (NFT) arts exhibitions have been gaining track in the MANA ecosystem and given the popularity of NFT art, the new feature could draw new participants to the platform. The platform also hosted a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=kxmkGOgnCtM\">few live music events with real-world artists<\/a>, a clever move considering outdoor events like concerts have come to a halt during the COVID-19 pandemic. <\/p>\n<p>Although much has been created, some critical features are yet to be implemented. These include a mobile version of the platform, micro-payments infrastructure and integration with virtual reality platforms.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/72e54bef-77c4-45bc-8598-c8f29d5f8874.png\"><figcaption style=\"text-align: center;\"><em>MANA Twitter user activity vs. price (USD). Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/vision.thetie.io\/\"><em>TheTie<\/em><\/a><\/figcaption><\/figure>\n<p>Data from TheTIE, an alternative social analytics platform, shows that the recent price spike was preceded by increased social network activity. Thus, for those betting on MANA token appreciation, it is worthwhile to monitor social network activity data.<\/p>\n<p>Decentraland has added a handful of new features to improve the user&#8217;s experience and support the growing NFT collectibles and digital real-estate sector. The new features under development also look promising, but overall, it is still in a very early adoption stage so participants should do their own research when considering whether to invest in MANA.<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/noshitcoins\"><em>autho<\/em><em>r<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nft-boom-and-platform-upgrades-back-decentraland-s-mana-100-rally\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# NFT boom and platform upgrades back Decentraland\u2019s (MANA) 100% rally &#8221; In the past year non-fungible tokens (NFT) have been gaining ground as the digital art market exploded and developers experimented with a variety of use cases. Data from NonFungible shows that over the past 30 days there were 58,400 NFT sales and $12.7&#8230;<\/p>\n","protected":false},"author":1,"featured_media":160862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvZTYzZDVjOTgtNjZkNC00Y2FiLWEzZmEtYWMxMTY3MjI2NDA2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,77892,75916,74939,73785],"class_list":["post-160861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-crypto-collectibles","tag-dex","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/160861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=160861"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/160861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/160862"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=160861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=160861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=160861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}