Review Decentraland Metaverse (MANA)

Review: Utrust

4.6
Pros
  • The Security Advisory Board backs Decentraland's communal government (SAB).
  • NFTs can be auctioned and LAND can be sold for MANA.
  • Decentraland tokens have a variety of applications.
  • Upgrades are performed on a regular basis to guarantee that new features are added to the protocol.
Cons
  • There is a significant lack of engaging stuff.
  • Decentraland's environment lacks variety.
  • Users rarely encounter other users, and when they do, there is no contact.
  • Exploitation risk as a result of cyberattacks.

Business Score: 4.6/5

Branding

Decentraland token MANA’s whole branding strength stems from solid partnerships with companies such as Amazon and Samsung, to mention a few. As the euphoria surrounding the metaverse grows throughout the world, more mainstream corporations are expected to adopt it and capitalize on the resulting frenzy. With MANA, both Samsung and Amazon accomplished the same thing. Amazon hosted a metaverse event on Decentraland to unveil the new OnePlus phone. Although interest in the metaverse in the crypto industry is still increasing, such initiatives from a large marketplace would undoubtedly help. Second, following the introduction of its virtual environment 837X in Decentraland in January, Samsung staged an event to showcase its forthcoming home entertainment innovation range and allow guests to create their own NFT art. With great collaborations like these, we can confidently assert that MANA does not require extensive marketing to flourish; rather, word of mouth and community expectations propel it forward

Team

Esteban Ordano, Ariel Meilich, Yemel Jardi, and Manuel Araoz conceived of Decentraland in a thorough whitepaper. It’s also worth mentioning that they solicited the support of famous specialists like Google’s Michael Bosworth, Dropbox’s Jon Choi, CoinFund’s Jake Brukham, and others. On February 20th, 2020, the team’s dream became a reality as Decentraland went online to the wider populace. The Decentraland DAO was established, as well as the full decentralization of the world’s infrastructure and public access to all it had to offer. Even though there are no reliable sources of information about Decentraland’s current player base, it is clear that it has become one of the most popular metaverse-based virtual worlds in the blockchain business.

Road Map

Decentraland is just two years old, so it’s reasonable that it doesn’t perform as well as Fortnite or Roblox. Considering this, it continues to be plagued by bugs and issues. This is something Decentraland’s creators are well aware of. In a decentralized, open world, things take time to change. On the other hand, Decentraland is working hard to make your in-game experience as smooth as possible. That’s why, in 2022, a PC client, a VR client, and a mobile app will be available. A desktop client for Mac, Linux, and Windows is claimed to fix the game’s flaws and make it more enjoyable. A “launcher” is included, which automatically refreshes the structures. As a result, you are no longer in front of a roller coaster that must load first. With the help of a mobile app, you’ll be able to access Decentraland with a tap of your finger on the train, on a park bench, or at a coffee shop.

Technical 4.5/5

Product

All of Decentraland’s virtual environment is made up of land, which Mana purchases and may be merged to form bigger chunks known as “Estates.” You may also buy items for your avatar using your mana, such as shoes, caps, and spectacles. Each wearable item is an NFT, which means it is one-of-a-kind and will be recorded on the blockchain. Owners of LAND are allowed to do whatever they want with it, such as creating digital settings or adding apps like themed community games. These extra components can subsequently be sold for a profit. Several blockchain firms (SuperRare, MakerDAO, Rarible, and others) have acquired land plots in Decentraland and established virtual galleries and offices there. Virtual conferences have been held throughout the world in the past, and you can learn more about live events in Decentraland (which are growing in popularity) here.

Avatars

You enter Decentraland as an avatar, or a virtual depiction of oneself, which you may freely customize. You may select from hundreds of free costumes or pay MANA to purchase unique clothing pieces and build an avatar with your own individuality. Each avatar has a Decentraland passport, which links to an Ethereum wallet where all of your MANA and other items are stored.

Builder

You may become a builder in Decentraland after you possess a piece of land, adding scenes or complete ecosystems to the land. Decentraland provides a wide pool of pre-built scenes that can be applied to any land, so no coding is required.

Thanks to Decentraland’s open source technology, these have all been supplied by others. As of March 2021, there are tens of thousands of settings to pick from, ranging from crude sketches to fully formed forests, buildings, and even homes.

Marketplace

If you can’t do your own development and don’t want to utilize the free products, you can always purchase everything from a pair of sunglasses for your avatar to an entire estate on the Decentraland marketplace. When Decentraland was still in development, one of the initial use cases presented was the trade of land and estates. You may also visit the marketplace to buy a name or a variety of wearable goods.

MANA Autonomous Decentralised Organisation (DAO)

Shortly after it went live to the public (DAO), Decentraland’s power was given over to the real users in the form of a Decentralised Autonomous Organisation (DAO). This makes the platform’s free economy even better by letting real users make changes that make the virtual world better.

The Decentraland DAO owns the LAND Contract, Estates Contract, Wearables, Content Servers, and Marketplace, among other Decentraland smart contracts and assets. It also has a big stash of MANA (222 million to be invested over ten years), which lets it be truly independent and pay for a lot of Decentraland operations and projects.

Avatars

You enter Decentraland as an avatar, or a virtual depiction of oneself, which you may freely customize. You may select from hundreds of free costumes or pay MANA to purchase unique clothing pieces and build an avatar with your own individuality. Each avatar has a Decentraland passport, which links to an Ethereum wallet where all of your MANA and other items are stored.

Builder

You may become a builder in Decentraland after you possess a piece of land, adding scenes or complete ecosystems to the land. Decentraland provides a wide pool of pre-built scenes that can be applied to any land, so no coding is required.

Thanks to Decentraland’s open source technology, these have all been supplied by others. As of March 2021, there are tens of thousands of settings to pick from, ranging from crude sketches to fully formed forests, buildings, and even homes.

Marketplace

If you can’t do your own development and don’t want to utilize the free products, you can always purchase everything from a pair of sunglasses for your avatar to an entire estate on the Decentraland marketplace. When Decentraland was still in development, one of the initial use cases presented was the trade of land and estates. You may also visit the marketplace to buy a name or a variety of wearable goods.

MANA Autonomous Decentralised Organisation (DAO)

Shortly after it went live to the public (DAO), Decentraland’s power was given over to the real users in the form of a Decentralised Autonomous Organisation (DAO). This makes the platform’s free economy even better by letting real users make changes that make the virtual world better.

The Decentraland DAO owns the LAND Contract, Estates Contract, Wearables, Content Servers, and Marketplace, among other Decentraland smart contracts and assets. It also has a big stash of MANA (222 million to be invested over ten years), which lets it be truly independent and pay for a lot of Decentraland operations and projects.

Crypto-Related

MANA is an ERC-20 token, which implies it is fungible. That is, they are completely interchangeable. Every MANA token is identical to every other MANA token. The tokens are all identical. This makes MANA an appropriate currency for use in Decentraland’s virtual economy. There are other ERC-721 tokens such as LAND and Estate. These tokens are non-fungible because they contain distinct features that distinguish each one. As a result, these tokens are not interchangeable and cannot be used as cash. They are, nevertheless, extremely valuable in the creation of in-world things like avatars, wearables, and Decntraland’s unique land parcels

Security

People utilizing their hacking talents to try to get their hands on some cryptocurrencies have been paying close attention to the cryptocurrency field. MANA shows some of the security steps that were taken to protect our users’ privacy and the overall security of the operation as it was being planned and carried out. Mana’s team has a strong policy in place where they purposely restrict access to any services in order to develop a need-to-have policy. The most significant ones, such as email lists, domain registrars, email accounts, and administration, are given special attention by the team. These services will use two-factor authentication with hardware or, if that’s not possible, two-factor authentication with a mobile phone and a dedicated phone line. MANA’s team simply stored a basic mapping from an email hash (using script) to an Ethereum address in their database because they have to go through a lot of crypto addresses because they are organized through airdrops, user rewards, and automatic reward mechanisms. Clear-text emails are only saved in RAM on the server and inside our email providers for a limited time. To eliminate information breaches in the HTTP response for the three actions we enable, the output is always an email to the requester. They also don’t send a non-confirmation email to prevent contacting folks who have never asked for our emails. To avoid having to save a reward confirmation email in the database, the email is included in clear text in the body of the email. Logs are also stored on a third-party service.

*Disclaimer* The project’s reviews are not financial advice. You are risking your own funds and you should do your own research on each individual investment. We only search for strong projects and are not looking for a get rich quick scheme.

*The review can contain referral links and is based on our internal guide that you can read here: Internal Review Guide*

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