The play-to-earn (P2E) business model has been highly successful for the gaming industry. By leveraging blockchain technology, gamers can get rewards in cryptocurrency by simply playing a game. One of the most popular P2E games is Decentraland. Gamers can use the MANA token to pay for avatars, wearables, and more on the Decentraland marketplace.
The MANA token had an impressive price surge in 2021, making it one of the top crypto gainers of that year. What can we expect from this token in the next few years? Will its value grow? Should you jump on the P2E bandwagon by investing in Decentraland´s tokens? Let us discuss it in our following MANA price prediction for the coming years.
What Is Decentraland (MANA)?
Decentraland is a virtual reality (VR) platform that allows users to buy plots of virtual land. Unlike other VR games, this platform is decentralized and runs on the Ethereum blockchain. Users can build upon their plots of land and monetize or sell their creations to others for a profit. In Decentraland, players interact with the non-fungible tokens (NFTs) known as LAND. There are 90,000 parcels of LAND, where players can create games, applications, and more.
Decentraland also utilizes MANA, an ERC-20 token that users can burn to acquire the ERC-271 LAND tokens. Players can buy avatars, wearables, names, and more with the MANA token on the Decentraland marketplace. MANA is the currency of Decentraland and plays a crucial role in the governance of the collections of LAND parcels known as “districts.”
Decentraland Current Market Status
At the time of writing, MANA sells at $2.61 per token. According to CoinMarketCap, MANA is the #32 most valuable cryptocurrency by market capitalization. With a circulating supply of over 1.8 billion MANA tokens, this coin has a market cap exceeding $4.8 billion.
Decentraland Price Analysis
Decentraland held an initial coin offering (ICO) on August 8, 2017. The ICO was very successful and raised $24 million within 35 seconds. At the time, early investors could buy one thousand MANA tokens for $24. A LAND parcel had a value of 1,000 MANA.
MANA began trading on exchanges at $0.02. By January 2018, the MANA price peaked at $0.26. However, it soon dropped from that level and fluctuated between $0.03 and $0.11 for the remainder of 2018. In 2019, the MANA price dropped to new levels, reaching $0.02356 on November 23. In the following year, MANA appreciated and crossed the $0.10 line in August 2020.
In 2021, MANA took off along with the entire crypto market, crossing the $1 mark in March. It traded above $1.5 in April. However, the MANA price skyrocketed on October 29, reaching $3.5647. The MANA token set its all-time high price on November 25, 2021, at $5.90. Then, the MANA price slowly decreased, bottoming on January 21, 2022, when each MANA token sold at $2.0264. It has bounced steadily, and as of March 27, 2022, the MANA price was around $2.61.
Evolution of Decentraland
Decentraland was launched in 2018, a few months after its successful ICO of 2017. In 2019, Decentraland released its closed beta. It was formally opened to the public on February 20, 2020. Its corresponding decentralized autonomous organization (DAO) was implemented later. In 2021, Decentraland consolidated as one of the leading P2E platforms available.
Decentraland Price Predictions by Experts
After learning the basics of the MANA token, it is time to discuss the Decentraland price prediction for the coming years.
MANA Price Prediction 2024
According to Trading Beasts, the MANA price will fluctuate between $4.8 and $7 throughout 2024. For its part, Digital Coin Price predicts a maximum MANA price of $11 for this year. Experts with Long Forecast think the MANA price could reach $31 by the middle of 2024. However, by the end of that year, the MANA price could be $20 or $25 at best.
MANA Price Prediction 2025
Analysts with Digital Coin Price believe MANA could sell at $13.5 in 2025. For their part, experts with Long Forecast think the MANA price will fluctuate greatly in 2025. According to their technical analysis, MANA could trade at $17 in May. The price will drop to $14 in June, but it will bounce in September, reaching $23. MANA will likely close 2025 at $29.
MANA Price Prediction 2030
A reliable MANA coin price prediction is not easy to produce for such a long term. Predictions vary significantly for 2030. Some put the MANA price at $59.19 in 2030, whereas others think it may reach $196.6 in the same year. By averaging different predictions, the average MANA price forecast for 2030 is $101.8.
FAQ
How to Buy MANA Tokens?
If you want to add MANA to your investment portfolio, you can purchase it from an exchange that lists this token. You can get MANA on LetsExchange.io. Our exchange allows you to swap more than 4,000 digital coins and tokens for MANA. You do not need to register an account to buy MANA tokens on our platform.
Is MANA Coin a Good Investment?
The P2E business model has been a big hit in the gaming industry. Decentraland is one of the leading P2E games available. It will continue developing, and the MANA token will likely increase its value in the future. The price predictions discussed above indicate MANA is an excellent long-term investment.
Can the Decentraland (MANA) price reach $5?
MANA already crossed the $5 line. Its current all-time high price of $5.90 was reached on November 25, 2021. According to several price predictions, MANA could cross the $5 line again this year.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.
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