During Covid-19 the entire world was stuck at home and the majority of them were thinking of purchasing virtual real estate. To invest in the virtual estate, Decentraland is one good idea. If you want to own crypto or sell cryptocurrencies use a reliable platform like Immediate Profit Offizielle Seite to make your trading easier.
This crypto project has an extremely professional and experienced team. Its token MANA has a fixed supply. This platform has video games that help in increasing the popularity of this crypto project. It is built on the blockchain of Ethereum which is a huge benefit but on the other hand, the high transaction charges bring a downfall to it.
What Are The Pros and Cons of Investing In Decentraland MANA?
When it comes to long-term commitment, MANA tokens look quite promising and upbeat.
Pros of Decentraland MANA
- One of the things people can do with the Decentraland MANA tokens is purchase land or real estate. By using MANA tokens people can now also purchase various products and services in the digital world. Furthermore, people can personalize their digital bodies and offer their suggestions in the form of votes on different opinions and ideas.
- The MANA tokens have a limited supply of around 2.6 billion tokens. When this token was first launched, there were only 1.7 billion MANA tokens inflow.
- When the initial land auctions were going on, a lot of MANA tokens were burned. Furthermore, 2.5% of all the transactions made on the Decentraland marketplace were burned. Now, this token comes with a secure supply of 2.2 billion tokens. The user community has now decided to not burn the tokens and put them into the funds of the community.
- The team of this project does not have the authority to disturb the supply of the tokens as the keys to smart contracts have already been damaged.
- Other than all the above-mentioned, the amount of all the tokens has been distributed with full justice. The majority of the project in the crypto world has a few whales that store a lot and this all has a risk that they will dump all their tokens.
- In addition to all this, another noticeable advantage of this project is the ever-growing admiration of video games. During the entire Covid-19 time people used to stay home and invest all their time in video games which benefited Decentraland a great deal.
- The other big advantage of this platform is its highly skilled team. The team is extremely qualified and has the adequate experience required by Decentraland to excel in the crypto space.
Cons of Decentraland MANA
When technology is created, it is created to help the community. With every benefit comes a drawback. Though MANA crypto token is receiving success abundantly, it still has some drawbacks that make people rethink investing in it.
- Though Decentraland is accepted and adopted globally but not to forget there are plenty of other virtual currencies present in the crypto world. All this indicates a big competition for every new crypto asset.
- We all know that Facebook has shown interest in developing a Metaverse and the odds are in its favor as it has the ingredients for an ideal Metaverse, the network, and the money. This can be the biggest competition as Facebook itself is the largest player for any project standing in the crypto world.
- There is a very high competition for Decentraland MANA as other than Facebook there are many other competitors too such as Newland, Sandbox, High Fidelity, and much more. Also, Amazon is all set with its new MMO.
- Another issue with this project is that it is created on the platform Ethereum and the majority of the people have confusing thoughts about it. Due to its creation on the blockchain, Ethereum MANA has high gas fees (transaction charges), and transacting MANA can be quite heavy on the pockets.
- Lastly, getting MANA is entirely a complex procedure. It can be quite lengthy as firstly you will have to fund your e-wallet and what makes it more challenging is high gas charges.
Conclusion
If we see in the long-term, Decentraland looks promising but can also be very risky. As we all know that crypto assets are highly volatile and investing a lot can cost you a lot if anything goes in the other direction. Also, this crypto project has a huge competition waiting for it.