Decentraland
Crypto Overview
Project Overview
Decentraland is a blockchain-based virtual reality platform where users can create, experience, and monetize content and applications. The platform uses MANA as its native cryptocurrency for purchasing virtual land parcels (LAND), in-world items, and services within the Decentraland metaverse.
Intended Utility
MANA serves multiple purposes: it's used as a medium of exchange within the platform, for governance through the Decentralized Autonomous Organization (DAO), and for purchasing virtual real estate and digital assets. The token has clear utility within its ecosystem, primarily focused on facilitating virtual world commerce and platform governance.
Actual Utility Assessment
Current usage data shows active trading of virtual land and assets, with regular marketplace transactions. The platform maintains steady development activity, with regular updates and improvements to the virtual world infrastructure. The DAO actively participates in governance decisions, showing genuine community involvement.
Token Distribution and Founder Analysis
Initial token distribution allocated 40% to the ICO, 20% to the development team and founders (with vesting periods), and 40% to the community and DAO treasury. The development team has demonstrated consistent commitment to the project since its 2017 launch, with transparent communication and regular progress updates.
Business Model Evaluation
The platform generates revenue through marketplace fees and land sales, with no interest-bearing mechanisms. The business model focuses on creating value through digital asset ownership and virtual world development, avoiding prohibited activities like gambling or adult content.
Crypto Impact
To assign a comfort level investing in Decentraland from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Decentraland.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.