Decentraland (MANA)

Virtual Real Estate

Users can buy, sell, and develop virtual land parcels called LAND. Owners control how their land looks and what content or apps it hosts.

Digital Assets and NFTs

Decentraland allows creation, buying, and selling of digital collectibles like clothes, accessories, and other in-game items as NFTs.

Virtual Experiences and Social Interaction

People can explore, socialize, attend events, and create interactive 3D scenes or apps within the virtual world.

Advertising and Content Curation

Users and businesses can promote products, services, or events by placing billboards or hosting experiences in popular areas.

Education and Virtual Tourism

Decentraland supports educational content and virtual tours, offering new ways to learn and explore digitally.

Applications and Development

Developers can build apps and interactive experiences using Decentraland’s scripting tools to enrich the virtual environment.

Pros

• Decentraland offers a virtual world where users can buy, sell, and build on virtual land called LAND, creating a free-market economy in a metaverse.
• Users can customize avatars and interact with others, enhancing social and creative experiences.
• The native token MANA is fully decentralized and built on the Ethereum blockchain, adding security and trust.
• Governance is community-driven through a DAO, allowing users to vote on important decisions.
• The platform supports a growing ecosystem including games, events, and marketplaces, which can increase user engagement and token value.
• MANA tokens are tradable on many popular exchanges, making it easy to buy or sell.

Cons

• Users cannot upload custom 3D avatar models, limiting personalization options.
• The value of virtual land depends heavily on location and size, which can be complex for new users to understand.
• The metaverse concept is still growing, so adoption and popularity can fluctuate.
• Some features require learning and adapting to new tools like the web-based Builder, which might be challenging for beginners.
• The fixed supply of MANA tokens means scarcity could affect price volatility.

For more details, visit the official website: decentraland.org

Founders

Decentraland was co-founded by Ariel Meilich and Esteban Ordano. Both are Argentinian developers with experience in software and blockchain technology. Ariel Meilich served as the project leader until 2020 and is a serial entrepreneur. Esteban Ordano is a veteran in the cryptocurrency industry. Although they have stepped down from leading roles, they continue to support Decentraland as advisors.

Key Investors

Decentraland has raised about $25 million in funding from around 37 investors. Some of the main investors include Grand 365 Capital, Digital Currency Group, Alpha Sigma Capital, Animoca Brands, and 27th Street Capital.

Institutional Investors

Grayscale Decentraland Trust is a notable institutional investor that allows exposure to Decentraland tokens (MANA) through an investment product. This trust has invested over $64.9 million in Decentraland tokens.

Recent Investors

Upchain Capital and Grand 365 Capital are among the most recent investors supporting Decentraland's growth.

For more details, visit the official Decentraland website or their funding profiles on platforms like Crunchbase and Tracxn.

Halal Status of Decentraland

• Yes, Decentraland is considered halal.
• It operates as a virtual world where users can buy, sell, and build on virtual land, similar to real-world activities, which is generally permissible.
• Scholars who view cryptocurrency as halal also consider MANA, Decentraland's native token, halal.
• The platform supports ethical and transparent operations without involving prohibited activities.

For more details, you can visit Islam and Bitcoin's Decentraland article.