• Decentraland, a crypto that is developing a metaverse, was a little-known cryptocurrency. Its popularity soared 400% after Facebook (NASDAQ) declared its rebranding to Meta.
• Decentraland announced the support of Native Polygon and WalletConnect to improve navigation within its metaverse.
• Polygon can be used to interact across all Decentralands dApps.

With Facebook’s rebrand, many now consider the metaverse to be the newest, hottest subject of the cryptoverse. Decentraland is a less-known but still active project that has been building a metaverse quietly since 2017.

Decentraland, at the time of its launch suggested that blockchain technology be used to create an environment that mirrors daily life. It has had remarkable success ever since. But how has its performance been in recent years?

The Price of Decentraland: Updates

Decentraland gained popularity after Facebook’s entry to the metaverse. It was then renamed Meta. MANA saw a surge in its value after the announcement.

Decentraland’s October trading chart (MANA). Source: Tradinĸgview

MANA hit an all-time record of $4.69 in the October rally. Decentraland was able to climb 400% and reach the top 50 cryptocurrency rankings. Decentraland was worth $6.48 Billion at its peak.

The days of pushing too fast, too furious seem to have come to an end with MANA, as the coin’s rally appears to have come to an end. MANA trades at $2.62 at the time this article was written, having lost 8.7% over the past 24 hours.

Decentraland (MANA): The 48-hour trading graph Source: Tradingview

MANA currently trades 42% less than the October 30th high. It still maintains the top 50 positions. Decentraland ranks 40th in terms of market value at $4.73 Billion as of the time of writing.

Current Developments and Future Events

Decentraland is built using a range of different protocols and apps. To make navigating the metaverse easier, Decentraland has announced support for WalletConnect and Native Polygon across all of Decentraland’s dApps.

Polygon launched a Decentraland bridge in April. This allows you to easily transfer assets from Polygon to. However, users still needed to complete a “meta-transaction” anytime they wanted to use the Polygon Network.

By introducing native Polygon support on the Decentraland network, all of Decentraland’s dApps natively support interactions with Polygon. Users no longer have to submit a Meta-Transaction whenever they want to use Polygon.

WalletConnect allows mobile wallets and dApps to be connected using an open protocol. Decentraland customers can enable WalletConnect by logging in to one dApp. The QR code will allow them to connect to other supported wallets.

Decentraland has seen steady growth, and the additions of new projects. The latest addition to the growing list of P2Es is “Golf Craft,” while “Vegas City” and “ICE (NYSE:) Poker Lounge” continue to attract more users daily.

Decentraland organized the second NFT Decentraland award to celebrate the metaverse. On January 12th 2022, the awards ceremony will take places. Nominees for NFT Awards are selected through community votes and submissions.

Projects that have the potential to change human lives through NFTs will be honored at this award ceremony. Open nominations and voting will be accepted until November 26th.

Flipside

• Decentraland may have the advantage of having built a metaverse before others, however megacorporations are eager to step in and take the reigns.
• You can find the best of Facebook Microsoft (NASDAQ:) Nike (NYSE:It remains to be determined how Decentraland will do in light of the many others who are looking to join the metaverse.