Amid the crypto landscape, where NFTs are a prominent and trending topic, digital currencies linked to these unique tokens have garnered remarkable attention. Notably, MANA, the native token of the Decentraland platform, has secured its position as the high-ranking NFT game token regarding market capitalisation. But is Decentraland’s MANA a promising investment? What is the MANA token’s value in 2023 and beyond? Our MANA price predictions for 2023-2030 will give you the answer.
What is Decentraland?
Founded in 2017 by Esteban Ordano and Ariel Meilich, Decentraland (MANA) debuted alongside its official website’s launch. Operating on the Ethereum blockchain, Decentraland is a play-to-earn (P2E) game that empowers players to own virtual land and communicate. You can invest in scarce virtual land, each parcel represented by a unique NFT, and materialise event venues, virtual malls, personal abodes, museums, and other imaginative constructs within the game.
Decentraland prides itself on being a fully decentralised entity, meaning its administration and ownership are vested in the community rather than the developers. This communal control is achieved through a decentralised autonomous organisation (DAO) as the governing entity for LAND and Estates smart contracts, Wearables and content servers. A significant proportion of MANA, the platform’s native currency, is owned by the community via the DAO.
At the heart of Decentraland’s ecosystem lies MANA, an ERC-20 token and the designated coin of this digital realm. MANA serves as a means for trading, acquiring land, and accessing various services within the virtual universe. The Decentraland ecosystem exhibits a dual-token structure, with the second token being LAND—an ERC-721 token. In essence, LAND tokens resemble NFTs, their worth hinging on exclusivity and users’ sentiments.
Decentraland (MANA) Price History
During the ICO fervour of August 2017, Decentraland initiated a 24-million-dollar Initial Coin Offering (ICO), concurrently introducing MANA trading on exchanges. Given the project’s early phase and the crypto market’s developing nature, MANA’s initial price remained modest. The coin touched its lowest point of $0.007883 in October.
Following numerous cryptocurrencies, MANA encountered substantial price fluctuations throughout 2018. Oscillating between periods of growth, propelling it beyond the $0.1 threshold, and declines, dragging its value under $0.05, the coin mirrored shifts in market sentiment. The year saw the broader crypto market grappling with regulatory uncertainties and technological hurdles.
Unlike the turbulence of preceding years, 2019 ushered in a more stable phase for MANA’s price. This consolidation period indicated a market maturation and potentially heightened interest in the project. The average market price for MANA during this time stood at $0.0409048.
The first months of 2020 marked a moderate rise in decentralised finance (DeFi) sector interest, influencing crypto sentiment and propelling MANA’s value above $0.1 by August. During this period, like several other altcoins, MANA demonstrated positive movements. By the end of 2020, the Decentraland token was around $0.08.
2021 witnessed a remarkable bull run across the cryptocurrency landscape, spurred by increased institutional engagement and expanding adoption. MANA also reaped the benefits of this trend, experiencing substantial price appreciation in the early months, surging to $1.5 in April and reaching its all-time peak of $5.84 in November.
In 2022, a range of cryptocurrencies, including MANA, endured a period of retracement. This market adjustment was influenced by heightened regulatory scrutiny, investor profit-taking, and a natural cooling-off post-rapid price escalation. This bearish phase led to a loss of -91.21% for MANA, with its market valuation settling around $0.3.
Entering 2023, MANA surged energetically, reclaiming its August 2022 peak of $0.8. However, this jubilance was short-lived, with prevailing bearish forces regaining control over the market. MANA’s trajectory veered unexpectedly, causing its value to waver once again. Presently, MANA’s price remains below the $0.4 mark, underscoring the trials the asset has confronted amid market headwinds.
MANA Price Forecasts: Expert’s Opinion
With these considerations in mind, let’s delve into Decentraland forecasts given by crypto price prediction sites and experts.
According to Wallet Investor’s analysis, a bearish outlook emerges, suggesting a potential downturn in the market. They predict a decline, with prices possibly reaching 0.01075 USD by the end of 2024.
Digital Coin Price expects a bullish trend for MANA, possibly reaching $0.80 by the close of 2023. The trajectory continues, with the coin reaching $1.66 by the end of 2026. MANA’s price can reach around $2.73 per coin in 2028 and a potential peak of $7.09 by 2032.
Read more: HEX Coin Price 2023: Is HEX A Good Investment?
PricePrediction.net offers a Decentraland price forecast for 2025, envisioning an average price of $3.53 for that year. Their projection for 2030 places the price at an impressive $24.97.
Coincodex’s MANA price forecast for 2024 reveals a potential yearly low of $0.307104 and a high of $0.491101. Looking ahead to 2025, predictions range from $0.355930 to $1.106146, potentially yielding a 203.00% gain if the upper estimate materialises. Beyond that, projections for 2030 span from $0.110694 to $0.411891.
Wolf identifies Decentraland (MANA) as a prominent web3 metaverse featuring gaming elements, with a notable game called “The Ice Poker” generating substantial revenue. With the competition from emerging metaverse and gaming projects, traders can anticipate a potential 5-10x price increase for MANA.
Lee the Captain envisions MANA token reaching $15 in the next Bull Run. The thriving Decentraland Marketplace, with 116 daily sales, signifies a robust economy in the metaverse. With the expected significant growth, the metaverse sector can reach $8-13 trillion by 2030, accommodating up to 5 billion users. This projection underscores the vast growth potential ahead.
MANA Price Predictions 2023-2030
MANA Price Prediction 2023
Confidence in MANA’s long-term price projection remains steadfast, fueled by the anticipation of heightened attention towards the currency. The end of 2023 could see an average price of $0.41, while the minimum value may hover around $0.40. The upper echelon of the price spectrum is predicted to find stability at approximately $0.44.
MANA Token Price Forecast 2024
Anticipations for 2024 suggest that Decentraland (MANA) prices could approach levels reminiscent of its previous all-time peak. By this year, an average price projection stands at $0.60. A favourable scenario could elevate the maximum price of Decentraland to $0.70 within 2024. However, note that market corrections often follow prolonged bullish trends, a norm in the cryptocurrency realm.
MANA Price Outlook for 2025
The concerted efforts of network developers and community investors will propel Decentraland’s value upward in 2025. A bullish sentiment pervades the calculated forecast for the year. Analysts project a peak price of $0.99 for MANA by the close of 2025. Within the same context, the maximum price spectrum for MANA in 2025 spans from $0.83 to $0.99.
Read more: ZIL Price Predictions 2023-2030: When Will Zilliqa Price Reach $1?
Decentraland Price Projection 2026
Decentraland’s current price range could pique the interest of numerous traders, potentially driving MANA to $1.44 by 2026. The expected average price for 2026 is $1.25, which could surpass ongoing trends and reach new heights. The price may experience variations, considering the cryptocurrency market’s propensity for unexpected bullish trends.
MANA Price Expectation for 2027
A unified consensus regarding Decentraland’s future course can be discovered across various platforms and discussions. Forecasts from this prediction realm propose that MANA will maintain stability at its current value for an extended period. As 2027 unfolds, projections indicate a maximum value of $2.05 for MANA. The minimum price projection might ascend to $1.68 if bullish market conditions prevail.
Decentraland Price Forecast 2028
Cryptocurrency markets remain volatile, complicating price forecasts. In the optimistic scenario of a robust 2028 bull market, Decentraland’s price could surpass $2.92. Long-term investors could find comfort in an average price projection of approximately $2.53 for 2028.
MANA Coin Price Forecast 2029
In tandem with a growing community, MANA is poised to become an appealing choice, potentially pushing its price to new highs. The volatile nature of price fluctuations presents challenges in prediction, amplified in exceptionally bullish or bearish market climates. By the close of 2029, Decentraland’s value could approximate $3.48. The pinnacle of potential peaks stands at $4.34.
Decentraland Price Prediction 2030
Embracing significant potential, MANA holds promise, mainly through collaborations and innovations that might expand its user base and adoption rates. An investment focus on Decentraland could drive its price higher. By 2030, the coin’s value may ascend to a peak of $6.31. Concluding 2030, the projected average price stands at $5.72, encompassing a range from $5.58 to $6.31 in potential valuations.
Read more: ZIL Price Predictions 2023-2030: When Will Zilliqa Price Reach $1?
Is Decentraland A Good Investment?
The surge in popularity of metaverse-related cryptocurrencies, including Decentraland, is not without reason. The curiosity surrounding the future of the metaverse has reached unprecedented heights. Undoubtedly, Decentraland offers an array of compelling reasons for long-term investors to consider this avenue seriously.
Nonetheless, the substantial financial transactions within these virtual realms come with elevated regulatory risks for metaverse cryptocurrencies like MANA. Regulatory authorities in key global markets, notably China and India, have adopted firm stances regarding this emerging sector. These regulatory pressures seem unlikely to wane shortly.
Significantly, one of the appealing aspects drawing users to Decentraland and other metaverse games is cryptocurrency-based gambling. This exposure to gambling inherently amplifies the regulatory vulnerability confronting Decentraland at present.
Nevertheless, the prevailing macro trends favouring metaverse assets outweigh the potential challenges. Decentraland has demonstrated noteworthy growth over the past year, and the indications suggest that this growth has only begun to unfold. A compelling argument emerges favouring incorporating Decentraland within a well-diversified cryptocurrency portfolio.
MANA Price FAQs
Is Decentraland’s future promising?
Considering the anticipated expansion of the metaverse as a web3 vertical, it is plausible that Decentraland, with its feature-rich metaverse and virtual reality platform, holds a promising future. According to our Decentraland price projection, there’s an expectation for MANA tokens to surpass the $6 mark by 2026.
When can MANA reach $10?
If Decentraland were to address various concerns like user experience and user loyalty, and if MANA demonstrated an annual growth rate of 25%, it could take approximately 15 years for MANA to achieve a value of $10. This timeline could be shorter if Decentraland effectively addresses these issues and if augmented and virtual reality experiences flourish.
What is MANA’s potential price in 2030?
The MANA token is projected to hit the $6 mark by the end of 2030. This hinges on the NFT ecosystem’s growth, the evolution of the market cap, and the trading volume of MANA, all of which should exhibit positive trends as the broader cryptocurrency market shifts towards a bullish trajectory. Nevertheless, actual price outcomes could vary based on various emotional factors.
Where to purchase MANA tokens?
You can purchase MANA in several crypto exchanges, but choose a reputable exchange registered with AUSTRAC. Our top recommendation is CoinSpot, which provides a user-friendly interface, free AUD deposits and withdrawals, a diverse selection of over 380 coins, and staking services. You can read our CoinSpot review here to learn more about it.
Is buying MANA legal in Australia?
Yes. The buying and trading of tokens, including MANA, are legally authorised in several countries, such as Australia, the United States, the European Union, Canada, and El Salvador. MANA can be bought via crypto exchanges via debit and credit cards. For further information, you can read our reviews of crypto debit cards and crypto credit cards.
MANA Price Prediction: Conclusion
When considering investments in MANA tokens, a comprehensive analysis of past price trends is crucial for projecting potential future price movements. Yet, the driving forces behind these prices are derived from more than historical data. MANA price predictions depend on many factors, including the adoption and demand for virtual reality content creation and ownership within the Decentraland platform. Besides, external market influences like Fear, Uncertainty, and Doubt (FUD) and Fear of Missing Out (FOMO) can wield significant power in shaping short-term price fluctuations.
Nonetheless, it remains paramount to comprehend the Decentraland project’s essence and assess its capacity to fulfil its commitments to users. A fundamental element for enduring success in the crypto sector is a well-founded ecosystem that genuinely enriches the experiences of crypto users.
