Here's The Easiest Guide to Buy Virtual Land in Decentraland

With crypto enthusiasts and companies buying virtual real estate, the big question is: “Is this going to be the next big thing?” Now that companies are diving into the Metaverse, land in the metaverse has the potential to be just as valuable as real-world land.

Timeline of Decentraland

The global crypto market has demonstrated a sharp bearish reversal with most altcoins including Decentraland (MANA) trading in red.  The post With Decentraland Whales Fleeing, Here's What MANA Holders Can Expect Next appeared first on BeInCrypto.

Metaverse games like Decentraland and The Sandbox were thrust into the spotlight when Facebook announced their rebrand to Meta back in October 2021. With metaverse gaming expected to grow from $36.8 billion in 2022 to $710.

Norway has forayed into the metaverse with the announcement of a tax office in Ethereum-based Decentraland. The country's tax agency, Skatteetaten, along with its central register the Brønnøysund, revealed their metaverse ambitions at the Nokios Seminar 2022.

The metaverse is primed to be a pivotal turning point in how we interact with each other, from work and education to commerce and entertainment. Gaming will see some of the most substantial changes as the industry embraces metaverse technology and shifts towards greater immersion. Already making waves for metaverse games are Decentraland and Metacade.

Decentraland (MANA) managed to tally a 3.4% increase over the last 24 hours as the crypto space is looking at a possible bullish recovery. In doing so, the crypto managed to trim its losses on its biweekly and monthly charts to 2.7% and 9.4%, respectively.

Decentraland claims to be the first fully decentralized world, is controlled through the Decentralized Autonomous Organization (DAO). The DAO owns Decentraland's most important smart contracts & assets and puts you in control of the policies formulated to determine how the virtual space behaves.

The cryptocurrency industry is ripe with prospects, especially now that multiple token divisions are starting to emerge. Encompassing everything from GameFi, the virtual reality space (Metaverse), meme tokens, DeFi, and more to confidentiality and anonymity.

Decentraland, the Ethereum-based metaverse platform has announced the Metaverse Music Festival 2022, an event based in the metaverse that will feature performances from artists across several genres. The first Metaverse Music Festival was held in October last year and attracted over 50,000 visitors over the course of four days.

Decentraland (MANA) price has broken down below the $0.75 horizontal support area and could continue decreasing towards $0.49. Sandbox (SAND) has fallen to a new yearly low and shows no signs of a potential reversal.

Crypto analytics firm Santiment says that virtual reality blockchain Decentraland (MANA) is quietly flashing an on-chain signal that has previously foreshadowed exponential rallies for the altcoin. According to Santiment, MANA's profit/loss ratio, which compares the amount of coins sitting at a loss to those at a profit, is sitting at three-year lows.