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What are the practical uses of Decentraland's MANA token?

» Specific Cryptocurrencies

MANA token is used to purchase virtual land parcels, called LAND, in the Decentraland virtual world.
Users can spend MANA to buy avatars, wearables, and other in-game items on the Decentraland marketplace.
MANA holders can participate in the governance of the Decentraland platform, voting on policy updates, land auctions, and the types of content that are allowed in the world.

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C cryptoAmbassador17 on 16.09.2023 Posts: 22

Hey folks, just trying to wrap my head around Decentraland's MANA token. I've read the main points about its use-case for in-game purchases and land ownership, but I'm curious about any other practical applications it may have that are not immediately obvious? Does it have value beyond the virtual world or any significant crossover into the physical one? Can it be used in staking or yield farming? Any insights would be greatly appreciated. Thanks in advance!

C CrYpt0Ph0n3 on 17.11.2023 Posts: 8

One unique application of MANA is that it can be used for governance within the Decentraland platform, meaning token holders can influence policy decisions. Plus, outside of Decentraland, MANA is tradeable on various exchanges, so there's potential for it to be an investment asset. Just a few things to consider!

C CrYpt0Add1ct on 18.03.2024 Posts: 21

Absolutely, the governance aspect is really empowering for users — having a say in the development of a digital world is quite something. On another note, while MANA can indeed serve as an investment, it's also interesting to see its utilization in fostering a digital economy, especially with artists and creators selling their virtual goods and services. There seems to be a growing ecosystem that could potentially expand its use-cases beyond what we currently envision. How exciting is that!

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