Decentraland NFT Collection: An Essential Guide
JAN 2024, [email protected]
Data Source: Decentraland NFT Collection Dashboard
Decentraland is a blockchain-based virtual platform where users can buy, sell, and trade NFTs representing virtual land, wearables, and other digital assets within an immersive, user-governed metaverse. Will this NFT project rise in 2024?
About Decentraland
Decentraland is a user-owned virtual world on the Ethereum blockchain where individuals can create, experience, and profit from their content and applications. As a decentralized platform, it operates with no central authority. Its open-source code allows anyone to contribute to its development and ensures it can never be shut down. The digital metropolis, Genesis City, comprises LAND parcels that users can buy, sell, or rent in the Decentraland Marketplace. The governance of the platform is democratic, with the community voting on all decisions regarding its future.
Creators in the community design unique “Wearables & Emotes” for avatars, earning most of the sales revenue and royalties, while the remainder funds community grants. The platform is vibrant with daily events ranging from concerts to game releases, all organized by users within Genesis City or their personal virtual spaces, fostering a rich, participatory culture.
Who is behind Decentraland
Decentraland was conceived by Argentinians Ari Meilich and Esteban Ordano. Their vision began to take shape in 2015, and by 2017, the platform had officially launched, marking the start of a new era in the digital space. As the architects of Decentraland, Meilich and Ordano have been instrumental in its development, steering the platform toward a fully decentralized infrastructure. This move has set Decentraland apart as the first virtual world of its kind, one that is not only built by its community but also governed by its users.
The governance of Decentraland is facilitated by the Decentraland Decentralized Autonomous Organization (DAO), which holds the reins over the most critical components of the ecosystem. This includes the LAND and Estates Contracts, Wearables, Content Servers, and the Marketplace. Empowered by a significant reserve of MANA, Decentraland’s cryptocurrency, the DAO operates autonomously, with the capacity to subsidize operations and support initiatives within the platform. The users, who are the lifeblood of Decentraland, exert collective control over the virtual world’s policies through the DAO.
Decentraland NFT Collection Data
In the dynamic world of Web3, understanding non-fungible tokens NFTs can be like exploring a large, unknown sea. Data analytics is the tool that helps everyone involved — collectors, investors, and creators — find their way. It does this by looking closely at transaction records, ownership details, price movements, and how people interact with NFTs. This information helps people make smart choices, avoid risks, and spot new chances in the NFT market.
Having this kind of guide is crucial for staying on track in the ever-changing NFT landscape. It helps with making choices that keep up with the market, making sure no one is lost in the vast amount of NFT data.
The NFT market is a dynamic ecosystem, and data metrics serve as a barometer for its changing conditions. Key indicators such as market capitalization, trading volumes, floor prices, and active engagement across marketplaces provide a vivid picture of the sector’s health and growth potential.
Investors who tap into these market trends can anticipate the direction of the tides, manage investment risk and uncover hidden treasures of opportunity. The importance of this data is huge — it’s the foundation of smart investment plans and a defense against the ups and downs of the NFT market.
Data from Footprint Analytics indicates that in the past 90 days, there has been a notable fluctuating trend in both the floor price and total market value of Decentraland NFT collection.
In the realm of NFTs, user behavior data such as total sales, total buyers and sellers, unique holders, and daily transactions provide a granular view of individual and collective actions. Metrics such as daily sales, volume, and the fluctuating numbers of holders, sellers, and buyers offer real-time insight into the pulse of the market.
Analyzing this user behavior data equips stakeholders with a deeper understanding of market sentiment and participant activity. Trends such as peak buying times, shifts in holder sentiment, and the emergence of buying or selling pressures can be identified. By leveraging this intelligence, investors and creators can refine their strategies, align them with the market demands and position themselves for success in the ever-changing NFT world.
As per the latest figures from Footprint Analytics dated January 20, 2024, the number of holders for the Decentraland NFT collection has stabilized at approximately 5,700 individuals. Currently, the ratio of supply to holders is maintained at 9.98.
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