Philippine-based crypto wallet and exchange Coins.ph announced the availability of cryptocurrency coin Decentraland (MANA) on its application, the native token of Decentraland that powers the virtual reality (VR) platform.
Decentraland was launched last 2017, it is a play-to-earn virtual world fueled by the Ethereum blockchain.
Players can buy digital real estate on its marketplace that they can later build upon, run and monetize.
Decentraland has two tokens, LAND and MANA.
LAND is a non-fungible token that carries the coordinates of a single point on the grid, references each parcel’s data, and represents the individual ownership of land parcels.
While MANA is a fungible token to buy LAND and in-game items and services in the Decentraland Marketplace such as Estates, Avatar wearables, and names.
It is an ERC20 MANA token and is interchangeable with other ERC20 tokens.
MANA also provides voting power in the Decentraland’s Decentralized Autonomous Organization (DAO), holders can convert their MANA into wrapped MANA (wMANA) and lock it in the DAO. One wMANA represents one vote.
As a DAO member of Decentraland, wMANA holders have the power to participate in its governance such as voting directly on in-game and organizational policies.
At the time of writing, MANA’s value is ₱48.37 ($0.904372) with a market cap of ₱71,869,477,672 ($1,346,005,565), according to the data of CoinGecko.
MANA’s all-time high was ₱311.99 ($5.85) last November of 2021 while its all-time low was ₱0.49 ($0.009236807947) last October of 2017.
It has a total supply of 2.19 Billion tokens.
The availability of MANA on Coins.ph offers the community to convert $MANA directly to PHP and vice versa.
The addition of MANA token made the total number of cryptocurrencies available to buy, sell, and store on the Coins.ph application to 21.
While other cryptocurrencies available in the app are BTC, ETH, AXS, SLP, BCH, XRP, USDC, LINK, KNC, MKR, UNI, AAVE, USDT, MATIC, SAND, CHZ, YGG, APE, GALA, and ENJ.
Coins.ph is regulated by the Bangko Sentral ng Pilipinas (BSP) and holds both Virtual Currency and Electronic Money Issuer licenses in the Philippines.
This article is published on BitPinas: You Can Now Buy Decentraland’s MANA on Coins.ph
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