Decentraland Booms With Events, Giveaways, Despite Market Doom

Regardless of the current cryptocurrency bear market, Decentraland continues to burst with activity as celebrities and organizations from across the globe host events, parties, and NFT giveaways. Some of the upcoming events in Decentraland include Comedy Decentral, Boy George Live in Vegas City, and the Mic Drop Comedy Festival.

The list of upcoming events do not come as a surprise anymore, given Decentraland’s position as the top destination for celebrities and organizations to host events, parties, and NFT giveaways. Popular events that took place in the Metaverse so far were the streaming of this year’s Australian Open and Samsung launching their new Galaxy smartphones.

According to CoinMarketCap, Decentraland’s native cryptocurrency coin, MANA, is ranked 30th in terms of market cap, and is the highest ranked Metaverse token. However, SAND, the native token of the Sandbox Metaverse, is not far behind MANA and is ranked 37th on the list. The price of MANA is currently $2.70 and the price of SAND is currently $3.15.

As many are aware, the Metaverse is not a new concept anymore. In fact, it has been around for several years now. However, Facebook’s announcement that it would be creating its own Metaverse contributed to the rise in popularity of existing blockchain-based Metaverses.

To bring the uninitiated up to speed, the Metaverse is a virtual, ready-player-one style realm where people can interact with other players and have unique experiences in the game’s world. Thanks to blockchain technology, players can now work in the Metaverse too.

The Metaverse became a virtual hangout for people that were stuck at home and isolated during the Covid-19 pandemic, and offered them a way to chat with friends, play a variety of games in the virtual world, and take part in a range of events.