Decentraland Slides 6.58% – Time To Buy MANA Coin?

• MANA has braved the bears to record an outstanding 24-hour trade exceeding $2.4 billion, a 151.09% rise with investors in a last-minute rush to buy MANA
• Samsung joins the metaverse party; launches virtual stores on Decentraland
• Decentraland introduces royalties payment for creators

The bears have dominated the nascent crypto market and successfully sent large-cap digital assets like Bitcoin and Ethereum tumbling down. The market leaders have lost double digits on the weekly margins. However, the dip presents a good opportunity to buy MANA.

The one-time over $3 trillion crypto market is now valued at $1.97 trillion, down 4.07% in the last 24 hours. This market decline has affected many digital assets, including Decentraland. Decentraland is trading at 3.12, down 6.58% in the last 24 hours and down 8.88% in the last 7 days.

Samsung Launches Metaverse Stores On Decentraland

Consumer electronic giant Samsung has decided to join the metaverse party and has chosen Decentraland for its metaverse project.

Decentraland is well-known for virtual lands and non-fungible tokens (NFTs). The network sold a piece of its digital land in December 2021 for a record $2.4 million for Tokens.com, a subsidiary of the Metaverse Group.

On January 6, the South Korean technology giant announced it is offering its customers a new fan experience in the metaverse with the launch of the Samsung 837X.

However, the Samsung 837X shop will be accessible in the metaverse for only a limited time. Samsung is following in the steps of Adidas to join the list of the biggest brands in the Metaverse.

The decision of Samsung to pitch a tent with Decentraland is a welcome development, and could see MANA enjoy a price rally in the days to come.

The Samsung metaverse store is a replica of a real-world shop situated at 837 Washington Street in New York City’s Meatpacking District in Manhattan. Worsening cases of Covid might have played a part in making Samsung want to keep customers away from physical shops.

According to Samsung, the features of the Samsung 837X store will include a connectivity theatre, a sustainability forest, and a musical event at the customisation stage.

Decentraland Launches Royalties For Creators

Decentraland believes it is high time creators got the credit they deserve for their efforts. This is why the metaverse ecosystem token has come up with royalties for all creators on its blockchain network.

Before now, when any sale of digital collectibles was made in the primary market, a 2.5% commission from the sale was usually sent to the Decentraland Decentralised Autonomous Organisation (DAO). If the sale happened in the secondary market, the item owner (not necessarily the original creator) only also pays a 2.5% commission of the sales price to the DAO.

With the introduction of Royalties in the Decentraland marketplace, only primary market commissions will go to the DAO, while commissions in the secondary market head straight to the original creator of the digital arts.

This new proposal will receive much cheer, especially from those who have put in a lot of hard work to produce NFTs on the blockchain, as they can now earn royalties for their digital collectibles.

Technical Analysis of Decentraland – MANA struggle Against the Bears

MANA has immediate support at $2.48 and immediate resistance at $3.86; this shows a potential price gain of 59.49%.

Investors can enter the market at $2.85 and set a take-profit order at $3.5. A stop-loss order can be set at $3.1 to avoid being liquidated.

The price of MANA is currently $3.09 and trading below the 20-day exponential moving average (EMA) price of $3.36, pointing to a bearish run.

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