It’s been a helluva week in the cryptoverse. The market crashed again. Bitcoin (BTC) is now down around US $5,500.00 and Bitcoin Cash (BCH) has devolved into a pair of unrecognizable ticker symbols on your favorite exchange. But the hurt many investors are feeling as they watch their investments nose dive from recent highs has been tempered somewhat by the stories of a few coins that weathered the recent storm relatively well. One crypto-company that is bouncing right back after the crash is Decentraland (MANA).
Virtually unstoppable, Decentraland and their associated crypto-token, MANA, has gained back nearly 10% since the crash. In fact, investors in Decentraland may have hardly noticed the disaster that overtook Bitcoin (BTC) and its forked derivatives as the value of MANA continues the upward trend it began in the past weeks. Though down from the highs of November 13th, MANA is up 30% over the last month.
What is Decentraland (MANA)?
Essentially, Decentraland (MANA) is a virtual reality world built on the Ethereum blockchain. The platform is a three dimensional, interactive, augmented reality created for gamers and entrepreneurs alike. Promising unlimited experiences powered by the imagination of its users, it is the first decentralized virtual platform of its kind.
Users of Decentraland own and create the platform. By purchasing virtual land through the Ethereum blockchain, entrepreneurs create fun and interesting opportunities for other users within the ‘game.’ With full control over their land, the creation of unique experiences by property owners has proven to be exhilarating and profitable. While examples of lucrative business ideas within Decentraland include the construction of virtual casinos and performance halls, in general, the development of real-estate leads to increased property values on the platform. The incentive to make real money in the virtual world creates an unlimited opportunity for creative expansionism.
Decentraland (MANA) ranks in at #61 on coinmarketcap.com. With a market cap over US $93 Million, MANA is trading over US $4.5 Million per day. MANA is now priced at US $.089 with over 1 Billion coins in circulation. Decentraland can be found on Binance, where it currently leads the ‘gainers’ section on the popular exchange.
What News Has Come From the Development Team Recently?
The news surrounding Decentraland (MANA) has mostly revolved around the increase in adoption the virtual platform is experiencing. With virtual land sales increasing, a milestone was recently reached as a large parcel of land was sold for US $215,000 (nearly 3 million MANA).
In other news, Axie Infinity, a third party collectibles game developer, has recently announced they are coming to Decentraland. As stories of adoption add up, investors are rushing to the exchanges to get in on the action before the next tranche of support raises the value further.
Man O MANA, Where Does it Go From Here?
As Decentraland (MANA) continues to grow, investors in the platform have become giddy with excitement. Users of this innovative product and passive hodlers of the coin both see the potential for a bright future ahead. And as this crypto-rocket starts its engine, there’s still time for all of us to board the craft before liftoff. Where Decentraland (MANA) can go from here is anyone’s guess, but the sky is the limit and solid future gains are now virtually assured.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…