What is Decentraland?
Established in the year 2017 by a blockchain company called metaverse Holding Ltd based in Shangai, China. Decentraland is a virtual world built on the Ethereum blockchain.
Decentraland is a virtual world built on the blockchain that is aimed to recreate a free-market economy. For instance, It contains Decentral games which is a metaverse casino, owned and monetized by its users. It mainly uses MANA tokens and LAND parcels. MANA tokens are the currency in Decentraland. MANA tokens can be used for buying wearables and other in-game items, whereas LAND is a non-fungible token representing an area of 16m x 16m, or 52ft x 52ft.
Addittionally, when you trade on Decentraland, they charge you a commission, normally a percentage on sale in trade also since Decentraland transactions are done on Blockchain, it attracts a gas fee of 2.5 MANA.
Decentraland Marketplace only supports Cryptocurrency mainly MANA but does not permit fiat currency.
