On the 30th of October, we saw MANA start the day around $1.40, and end it around the $3.60 mark before bouncing around the next day between $2.60-$3.60.
Since then, we’ve seen it gain some stability and start moving upwards, hovering around the $4 mark at time of writing.
So, what prompted this major shift in the coin’s value?
One word: Zuckerberg.
That’s right, when Mark Zuckerberg announced that his company ‘Facebook’ would become ‘Meta’, he said to the world that the company’s focus is going to centre around the Metaverse.
Augmented Reality and Virtual Reality are about to become a major part of Reality Reality.
MANA wasn’t alone in this big climb, a number of Crypto Coins also felt the thunder such as BAT (Basic Attention Token), and ENJ (Enjin Coin), but neither of them quite felt it as much as MANA.
- MANA +115%
- BAT +60%
- ENJ +15.55%
Decentraland is a long-running project, combining the Blockchain with Virtual Reality. Within the game, you can buy and sell Virtual Real Estate, otherwise known as ‘LAND’ using the MANA cryptocurrency.
Some are speculating that with the advent of this change of focus from Facebo- I mean Meta, to the metaverse, that we will see projects like Decentraland continue to garner more and more interest, pushing the MANA coin to potentially double by the end of 2022, based on the current bull-run and all the ongoing hype around the Metaverse and NFTs.
Coins live and die by their popularity and perceived value, so as long as people are placing importance on the metaverse and NFTs, I can see the value of MANA continuing to increase, however if another project comes along that does the same thing, but better, then we might begin to see Decentraland lose some of that hard-earned market share.
All I can say is, do your due diligence and invest wisely my friends!