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Because the crypto markets begins recovering and commerce sideways this week, Decentraland token jumped 25% and it’s nonetheless inexperienced.
On the time of writing, it was up 10.09% based on CoinMarketCap. It hit a excessive of $2.61 and a low of $2.36 within the final 24 hours.
However why is the MANA coin rallying, let’s take a deep dive to look at what’s behind the present MANA value hike.
What’s Decentraland?
Decentraland is a digital actuality platform constructed on the Ethereum blockchain with a Unity sport engine to allow gamers to entry unique experiences and buy varied NFTs.
Decentraland has two tokens, that’s, MANA and LAND. MANA is an ERC-20 token that’s burned to accumulate non-fungible ERC-721 LAND tokens.
Decentraland has featured various experiences just like the video games and Casinos making it the preferred platform for customers built-in with the newest crypto traits akin to Play-to-earn, Defi, GameFi, and NFTs.
Why is Decentralnad (MANA) value rallying?
The present Decentraland (MANA) value surge is being attributed to the information of the Australian Open (AOMetaverse) closing celebration immediately that may function Steve Aoki, a world-class artist.
🤘@steveaoki SET STARTING SOON @decentraland
get amongst it @AOmetaverse https://t.co/S50ErYPjnw pic.twitter.com/KEqzA4ZHnD— AOmetaverse (@AOmetaverse) January 30, 2022
Australian Open is without doubt one of the largest tennis tournaments on this planet that’s held yearly in Australia at Melbourne Park. The price range of the event for the yr 2022 was $75 million
This yr’s winner was Rafael Nadal, who broke a three-way tie with Novak Djokovic and Roger Federer, and claimed his twenty first Calendar Slam the place he received all of the 4 main championships in the identical sport and in the identical calendar yr.
It’s possible you’ll be questioning what the connection between a tennis event and Decentraland is. However this yr the Decentraland had been chosen because the host for the Australian Open Match closing celebration. This exhibits a major pivoting in direction of the Metaverse.
The entire occasion has introduced huge consideration in direction of MANA; one thing attributed to the present bullish momentum.
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