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This week’s technical news was marked by the announcement by Mark Zuckerberg about the name change on his Facebook company, which will be “Meta”. More than a simple rebranding, Facebook is changing the heart of its activities to place itself on the meta verse. This announcement caused the price of a particular crypto to jump. But what is the meta-verse? And what is the relationship between metaverse and crypto?
What is the meta-verse?
Since Facebook’s fire report, the word “metaverse” has been on everyone’s lips! This is reminiscent of the blockchain phenomenon two years ago! If the usage is new, you should know that this term is anything but new. To find its origin, go back to … 1992 ! This term appears for the first time that year in the novel titled Snow Crash written by Neal Stephenson. Years later, in 2018, the metaverse is the subject of the movie Ready Player One by a certain … Steven Spielberg!
None of this tells us what the meta-verse is! Behind this futuristic word hides the notion ofa parallel digital universe. To better understand, we must consider the metaverse as a mix between augmented reality and social networks. For Mark Zuckerberg, the metaverse represents “the holy grail of social interactions.” In July, during an interview, he even thought the meta-verse would mark “the next chapter for the technology industry.”
Source: Adobe / mckaya
Specifically, users wear specific equipment (such as a helmet) that allows them to do so immerse yourself in a digital world. Mountaineering with friends in the Alps? Have a meeting between colleagues in a virtual office recreated for the occasion? Everything is possible with the meta verse!
What is Decentraland crypto (MANA)?
Mark Zuckerberg’s announcement has had consequences in the crypto market! Odd? Not so much if we look in detail. For example, one of the cryptocurrencies most affected by this message is the coin Decentraland (MANA). What is the connection with the Decentraland crypto and the metaverse?
Crypto has been created in September 2017. The two founders of Decentraland are Ariel Meilich and Esteban Ordano. Although they have since left the project, they are still present as advisors. Ariel Meilich is known for having already launched several start-ups in the past. He also worked as an analyst for a Silicon Valley company. Esteban Ordano, meanwhile, worked in crypto for BitPay and the Matic network.
Decentraland is a gaming platform like Axie Infinity for example. The network runs on the Ethereum blockchain. Players can acquire land by purchasing LAND tokens (ERC-721). They can then utilize their land (“land”) as they wish. The area of each “land” is set at 33 ft times 33 ft or 10 m times 10 m. In height, however, there is no limit.
Specifically, the players can e.g. build 3D infrastructure on their plot in the same way as SimCity! But so can they implement services. To do this, they need to buy another token, MANA (ERC-20). With this token, users can develop exchanges between avatars such as online games, etc.
But that’s not all! Decentraland players can too create NFTs. These NFTs can, for example, represent a particular outfit worn by an avatar. Players can then swap this NFT between different platforms. For example, a player on Decentraland may sell an outfit to a player on Sandbox (another metaverse platform similar to Decentraland).
The price of crypto Decentraland
Right after Mark Zuckerberg’s announcement became Decentraland crypto price rose 70% ! Despite this boom, the Decentraland crypto did not hit its ATH on the day of April 17, 2021 at a price of $ 1.63. But the progression continued and the crypto Decentraland just hit their ATH !
Thus, Decentraland reached a new record ever with an ATH of $ 2.72 on October 30, 2021! At the time of writing, the Decentraland crypto price has dropped back to $ 1.48. Decentraland corner price has increased by more than 210% over the last 7 days ! After Dogelon Mars (ELON), this is the best crypto performance!
The relocation of a mastodon like Facebook does not deceive! The meta-verse is the technology of the future. Metaverse-related cryptocurrencies like Decentraland have a bright future ahead of them! If you’re a gamer (literally and figuratively), it’s time to get interested in Decentraland crypto!