MANA Price Prediction: Wouldn’t it be great to have your own plot of land to escape the grim economic reality we are facing? No wonder many are turning to the exciting labyrinths of virtual reality. With the announcement of Mark Zuckerberg’s Metaverse, defined as the “next version of the Internet”, the demand for virtual “land” offered by Decentraland has grown significantly. Let’s not forget that recently, a plot of virtual space in Decentraland was sold for over $2 million!
But even if you are a traditional investor who prefers REAL real estate and doesn’t want to attend a virtual concert of Paris Hilton, you’ll have to admit that a coin that shows and increase of 2631% for a little over 11 months is worth considering!
And here is where MANA comes into play! This MANA Price prediction research finds Decetraland (MANA) is one of the top players in the crypto space. MANA, which started with an average price of $0.026, is now trading at $4.7 and has a market cap of over $8 billion (as of November 30, 2021). Which makes many believe that given MANA’s current price, it will reach $10 per coin soon!
Notable investors and companies, including Bitcoin Suisse, Atari and Barry Silbert, have also shown interest in MANA. In fact, Silbert tweeted recently, “$MANA > Meta”.
So if MANA is the real deal, what can we expect in terms of Decentraland (MANA) price fluctuations between 2022 and 2030? We’ve got all the answers you need here!
Latest News and Partnerships That Might Affect MANA’s Future Price
Table of Contents
- Latest News and Partnerships That Might Affect MANA’s Future Price
- Is Decentraland for Free?
- What Are Decentraland’s Tokens?
- How Many MANA Coins Are There in Circulation?
- Historical Data & Technical Analysis
- MANA Price Prediction 2021
- MANA Price Prediction | Short-Term 2022
- MANA Price Prediction | Long-term 2023-2028
- What Will MANA Be Worth in 2030 & Factors That May Affect It?
- The Basics of MANA
- What Is Decentraland?
- How Does Decentraland Work?
- Is MANA a Good Investment?
First things first! Before we start digging for MANA price prediction, let’s explore the factors that might affect MANA. Of course, many factors may affect MANA current price before it hits high targets, including regulations, demand and supply, the integration of virtual reality, the connection between gaming and blockchain, and any huge announcements on social media.
But let’s focus on one crucial factor: everyone loves Decentraland. Decentraland offers users an easy entry point, complete ownership and freedom, 100% decentralisation, and a variety of assets, which helps it build a strong community and social media presence.
Decentraland has the backing of numerous huge companies that are interested in the project, including the gaming giant Atari and large groups like Digital Currency Group, CoinFund and Bitcoin Suisse. Fabric Ventures is another giant that backed the project. Animoca Brands also signed an agreement to co-develop games for the Decentraland marketplace.
Such partnerships can lead to an increase in Decentraldn (MANA) price (compared to its current value). To remind you, only because of the news of Facebook changing its name to Meta, MANA price plunged to over 263.93% in less than a week in October 2021.
Institutional interests are also crucial in determining MANA’s price in the future. Note that Barbados signed an agreement to start the world’s first digital embassy in the metaverse, so we are about to witness a new reality backed by blockchain technology, virtual reality, and the cryptocurrency market as a whole.
And one more thing before we get into the investment potential of Decentraland and any price predictions! This MANA price prediction article answers some frequently asked questions circulating in the cryptocurrency market.
Is Decentraland for Free?
Yes, almost anyone can register, create an avatar and have a glimpse of the world of Decentraland for free. However, to fully take advantage of its features and daily rewards, you need a crypto wallet and MANA tokens to keep all the names, LANDs, and collectables safe.
What Are Decentraland’s Tokens?
Decentraland has two native tokens. MANA is an ERC-20 fungible token used to pay for avatars, LAND, services, accessories and others in the virtual world. As we know, ERC-20 tokens are built on the Ethereum blockchain, ensuring high safety and functionality. LAND is an ERC-721 non-fungible token that is used to indicate land and real estate ownership in Decentraland via an Ethereum smart contract. According to expert Dave Carr, this gives users two ways to participate: by holding MANA tokens or by being a landowner (with rentals also being an option): “The assumption is that, given the success of Facebook as a social media platform… you would have to imagine that their version of a virtual world and metaverse services will not be decentralised. It won’t be OK. Let’s hand it over to the community and you tell us how you want to run it.”
How Many MANA Coins Are There in Circulation?
Initially, MANA had a total supply of 2.8 billion tokens, which was reduced to due to LAND auctions and MANAs being burned, meaning spent. The current circulating supply as per CoinMarketCap is around 1.8 billion coins. Interestingly, MANA was also set to inflate during the years, but inflation is now disabled. Given the high interest in the project and virtual reality, especially amid the pandemic, MANA has excellent liquidity and can be purchased on many exchanges, which helps MANA trades increase.
Historical Data & Technical Analysis
It’s time to dive deeper! Will MANA reach $10 per coin anytime soon, and will its market cap hit new highs? Let’s first look at some past data.
When MANA came in 2017, it made over $24 million during its ICO. During its first years, MANA price remained stable, with prices varying from $0.02 to $0.05, plunging to $0.09 at the end of the year.
MANA price varied between $0.02 and $0.17 throughout 2018. In comparison, priced varied between $0.02 and $0.05 in 2019, ending 2019 at $0.03.
Note that MANA started 2020 trading at around $0.03 but sank down due to the coronavirus outbreak. Thankfully, it recovered during the second half of the year and consolidated between $0.07 and $0.09, ending 2020 at $0.07.
MANA Price Prediction 2021
Technical analysis data shows that MANA had a bullish start of 2021, trading at an average price of $0.08.
Given its current prices of around $4.7, this gives MANA a parabolic move of 2631% for a little over 11 months.
Note that the coin reached an all-time high of $5.48 on November 24, 2021, which makes some experts believe that MANA price could easily reach $10 by the end of the year.
MANA Price Prediction | Short-Term 2022
It is expected that January 2022 will be a bullish month for MANA, which may surpass $5.8 by the beginning of the year (with $7.28628 and $4.95467 being the maximum and minimum price forecasted by analysts, respectively).
Some technical analysts are even more optimists, claiming that the year 2022 will be a bullish year for MANA, with the possibility to hit $10 per coin and even race up above $50 per coin.
MANA Price Prediction | Long-term 2023-2028
Experts share optimistic forecasts, with some believing that MANA will remain relatively steady for 2023-2028, with prices starting at $6.17 in 2023 and spiking up to $12.75 in 2028.
According to some more bullish MANA price forecast data, MANA price is expected to reach $36.41 in 2023 and $134.20 in 2028.
What Will MANA Be Worth in 2030 & Factors That May Affect It?
While nobody can predict the market, long-term predictions concerning MANA are highly positive. Some believe that the metaverse token will reach $100 and continue to soar, stopping at a maximum price of over $252 in 2033.
With certain partnerships and the expansion of virtual reality, MANA may even reach new highs. Crypto YouTube channel Crypto Scope even reveals a more extreme bullish prediction claiming that MANA is expected to reach a new ATH of $300 per coin.
Decentraland price predictions do not necessarily reflect real events. There is a high possibility that MANA prices will change not as expected.
The Basics of MANA
But why is everyone so positive about MANA’s future? Is it only Facebook’s rebranding that can lead to a clear bull run? Not at all! Decentraland has much to offer, so let’s recap the basics and why the token continued to grow throughout the years.
What Is Decentraland?
Leaving all the technical analysis, price predictions and expert opinions expressed online behind, let’s start with the basics. So what is actually Decentraland, and what is its purpose in the crypto world?
Decentraland is a virtual reality platform, a world where you can create avatars, buy land, attend virtual gigs, and much more. You can even monetise virtual reality applications. As suggested by its name, Decentraland is a decentralised virtual reality platform, owned completely by its users. In fact, Decentraland is the first decentralised virtual world out there controlled and shared by users.
Created by Ariel Meilich and Esteban Ordano in 2015, now Decentraland is more than a hype but a real world of its own. The beta version was closed in 2019 and opened to the public in February 2020, gaining a strong presence in the crypto market, along with top-performing virtual currencies like Bitcoin, Ethereum, and Dogecoin.
How Does Decentraland Work?
Decentraland enables transparency through its decentralised blockchain-based nature. Users can vote on updates, LAND auctions, wearables, and others. This takes place on the Decentraland DAO platform, enabled by Aragon via the Ethereum blockchain.
While we won’t complicate your investment decisions with technicalities, have in mind that DAO stands for Decentralised Autonomous Organisation and in the case of Decentraland, the DAO owns all the smart contracts, dApps, and assets that form this whole virtual world controlled by users.
Is MANA a Good Investment?
While Decentraland might not be your usual investment, we have to admit that it’s an appealing asset to add to your portfolio. Data shows that MANA continued to grow gradually over the years. Built for creators and investors looking for new ways of entertainment and connecting with others, Decentraland and its native token are growing in popularity.
While virtual land might be way out of reach for the average Joe, you haven’t missed the boat. You can invest in digital coins powering games and projects like Decentraland and witness a potential hyper-growth of your portfolio.
The good news is that with its high liquidity, you can easily buy Decentraland/sell Decentraland to make a potentially profitable investment. You can purchase the exciting MANA coin on different exchanges, including eToro and Huobi Global.