Decentraland’s token, MANA, soared to over $4 this weekend. Following Facebook’s rebranding of itself as “Meta”, the virtual world’s currency surpassed a $7.5 billion market cap briefly on Saturday, according to CoinMarketCap.
Decentraland is a decentralised 3D virtual reality platform built on the Ethereum network.
Managed and controlled by a Decentralized Autonomous Organization (DAO), Decentraland is governed by holders of its native tokens.
In the platform’s metaverse, you can do anything from build environments, marketplaces, and applications to purchase land, play and explore creations of other players.
Earlier this month, Paris Hilton and Deadmau5 partnered with Decentraland when she signed up to be one of the headline artists for the inaugural Metaverse Festival, which ran from Oct. 21 – 24.
But MANA wasn’t the only metaverse token to benefit from the social media giant’s publicity. The Facebook effect seems to have also impacted the price of The Sandbox (SAND) this weekend, as it put in a new all-time high on Saturday.
If you’d like to get a first-hand look at what’s going on in Decentraland’s metaverse, it’s completely free to explore.