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When was MANA coin issued? Learn about the origin of MANA coin in one article
In 2017, Decentraland raised $26 million in their initial coin offering (ICO), launching the MANA cryptocurrency, which empowers users to purchase digital assets, customize avatars, and participate in Decentraland's governance.
Oct 05, 2024 at 12:00 am
MANA Coin: Origins and History
1. Concept and Development
MANA, the native cryptocurrency of the decentralized metaverse platform Decentraland, empowers users to purchase virtual land, customize avatars, and participate in the governance of the virtual world.
2. Initial Coin Offering (ICO)
On September 25, 2017, Decentraland conducted an initial coin offering (ICO), offering 2.7 billion MANA tokens (63% of the total supply) for sale. The ICO raised approximately $26 million.
3. Network Launch
In February 2020, the Decentraland platform officially launched, allowing users to explore and interact within the virtual world. MANA became the primary means of transaction within Decentraland, used for purchasing land parcels, goods, and services.
4. Popularity and Growth
As Decentraland gained popularity, so did MANA. The cryptocurrency saw a significant surge in value throughout 2021, reaching an all-time high of $5.85 in November 2021.
5. Metaverse Hype and Market Expansion
In recent years, the term "metaverse" has gained widespread attention, leading to increased interest in Decentraland and MANA. As more projects and users enter the metaverse space, MANA is expected to play a significant role in the virtual economy.
6. Tokenomics and Governance
The total supply of MANA is 5 billion tokens. It operates on the Ethereum blockchain and utilizes the ERC-20 token standard. MANA holders have governance rights within Decentraland, allowing them to vote on proposals and shape the platform's future.
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