Decentraland Price Up 7.76% – Time To buy MANA?
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- Global giant Samsung launches deeper into the Metaverse using Decentraland capabilities
- Cloud Nine Web3 technologies enter the Metaverse office provided within Decentraland
- Australian open takes Swing at Metaverse with Decentraland
- MANA price soaring and the ERC-20 token seeks new bullish run
While most digital assets struggle to recover from the bearish winter, Decentraland is smashing through the bears to establish new support and resistance levels. This rally has moved investors to buy MANA.
Decentraland is a 3D virtual world platform that is open source. Users may use the MANA cryptocurrency to purchase virtual parcels of land on the site in the form of non-fungible (NFTs).
Virtual reality-based Decentraland has experienced exceptional support since Facebook’s rebrand as Meta towards the end of 2021. Microsoft and Nike entered into the Metaverse with gusto, bringing significant recognition to the Metaverse ecosystem.
This support is evident in the coin’s price journey, with MANA currently trading at $3.0514. This price resulted from a 7.76% increase in the last 24 hours.
Samsung Uses Decentraland’s Capabilities to Enter the Metaverse
Samsung Electronics America is gearing up to enter the metaverse through a new partnership with Decentraland (MANA), an Ethereum-based platform.
The electronics behemoth had erected a virtual counterpart of its flagship 837 real stores in Decentraland. The virtual store dubbed Samsung 837X in Decentraland will be open for a limited time.
In this time, users would enjoy a unique digital adventure. The electronics giant has also made available a limited number of non-fungible tokens and wearables that users can win in the Decentraland metaverse. While this flagship is just a pop-up store, it is almost certain that Samsung would renew this experience.
Cloud Nine Web3 Joins the Metaverse
Cloud Nine Web3 Technologies is a prominent provider of decentralised network and data storage solutions. Cloud Nine signed a virtual office services deal with TerraZero Technologies to enable direct access to Decentraland, one of the most popular decentralised Metaverse worlds.
The site of Cloud Nine is across the street from Decentraland University. This location will be used to promote the company’s EdTech Content and Materials, which include practical and relevant guides to understanding cybersecurity, blockchain technology, and non-fungible tokens (NFTs).
Furthermore, the Company intends to leverage the Metaverse to expand its proprietary virtual private network (VPN) technology, allowing decentralisation customers to swap their unused computing resources for secure Internet access and improved privacy.
Decentraland is a decentralised Metaverse, and management hopes that its Limitless VPN will give its users more privacy and decentralisation while they function, play, and operate in it.
Australian Open launches NFTs, Leverages Decentraland
The Australian Open, the Grand Slam tennis event, took a swing at the metaverse last Thursday with a pair of blockchain-related announcements.
The famous tournament is launching a collection of 6,776 non-fungible tokens (NFTs) that correlate to on-court activity, as well as a virtual event on the Decentraland metaverse platform.
Each of the 600 winning shots from the event will correlate to one of the NFTs in the collection. According to a press release, owners would get an airdrop containing film of the point, virtual wearables, and Australian Open merch.
The second phase of the Metaverse journey is the Decentraland party scheduled throughout the tournament, which kicks off on January 17.
It will involve challenges for fans to compete for virtual prizes. The arrangement will convey a nice Australian summer atmosphere via the computer screen, and it won’t be the tournament’s last virtual event.
MANA Technical Analysis:
At press time, MANA is trading at $3.07514, with a notable 7.76% increase in the last 24 hours. After floundering through December, the Decentraland native token is rallying to greater highs.
The ERC-20’s 100 hourly simple moving average (SMA) stands at $2.7869, well below the current price peg, indicating a strong long term bullish trend, despite the current price being below the 50-hourly simple moving average (SMA) price point of $3.6225. The 23.6% Fibonacci retracement tool puts MANA at $3.4335, with the 50% metric serving as likely support at $3.1920.
In addition, the moving average convergence and divergence (MACD) indicate a sell signal with the yellow trend line in the lead.
The relative strength index (RSI) value of 45.43 places the digital coin in the underbought region. This presents the ideal opportunity for investors to get in on the market and buy MANA.
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