The platform, co-founded by Ariel Meilich and Esteban Ordano in 2015, was launched in 2017 following a 24m initial coin offering (ICO). It was opened to public users in February 2020.
Every blockchain-based platform needs to have its own crypto, and Decentraland has the conveniently-named Decentraland token, also known by its ticker handle of (MANA). This token is used to buy and sell land, as well as goods and services, within the network.
Users can purchase the limited land in this virtual reality world and develop assets into real estate. This in turn creates a hub and drives the creation of content and services.
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