Investment Thesis for token.
A shared value incentive model to build a powerful and collaborative #Decentraland community.
(my opinion) - DYOR
1/ Thread 👇
2/ .#MANA is the in-world currency of #Decentraland.
How does it get used?
Marketplace fees, (burnt), governance token, buy names, wearables, land, art, many other cases are being explored.
3/ Founders create wealth for themselves and the community by increasing the utility of #MANA throughout #Decentraland and implementing burn mechanisms to increase the value of the token.
More the utility and lower the supply, higher the value proposition and potential price.
4/
2,805,886,393 MANA supply at ICO,
Previous burns as follows,
161M MANA($30M USD at the time), burnt during first Land Auction, (Dec 2017).
109M MANA($6.6M USD at the time) burnt during second Land Auction, (Dec 2018).
333M MANA burnt by team.
5/
100 MANA burnt for every Avatar name claim, (19,548 names have been claimed = 1,954,800 MANA Burnt).
2.5% burn fee for Secondary Market Tx's, (Land, Names, Wearables).
?% MANA burnt for clothe sales minted by Decentraland, (During early events - continuation unknown).
6/ Hints that #MANA will be burnt to claim a license to mint wearables,
DCL DAO owns 222M MANA and will release 22M MANA/year for next 10 years to Fund #Decentraland content creators & comps.
(~$2M USD/year at time of writing)
7/ Current total Supply according to the MANA contract,
2,195,727,965
etherscan.io/token/0x0f5d2f…
Not sure on circulating supply, but Coinmarketcap says 1,440,731,383 MANA so we'll roll with it.
8/
Risk 1: Heavily Susceptible to BTC and ETH movements due to parings and general #crypto.
Risk 2: MANA movements impact Decentraland Marketplace prices. Some people may dump land, etc due to heavy price swings.
Risk 3: Community may vote and use other currencies within DCL.
9/ My Strategy: Hold a bag of MANA and actively help build the platform.
Bring partnerships, run events, explore use cases with my LAND, grow community, anything that brings value to the people, brings value to the token.
Use LAND to show/build value. Use token to fund. Repeat.
10/ The stronger the token, the more funding strength the #Decentraland DAO Has.
The more fiat that 222M MANA Fund is worth, the more people we can attract to build and bring value to DCL.
11/
90,000+ #Decentraland lands is a 23,000,000 sq m's.
A LOT of virtual land to build on and will take an army of dedicated, passionate and often well funded community to build engaging/valuable experiences on.
12/ .#Decentraland will attract people in waves.
As each time it hits mass attention, there's a new set of next level things to look at.
This MANA run, people see a much better product than launch. (Feb 20th)
6-12 Months from now, it will be even more amazing.
13/ Not investment advice, all thoughts are my own, DYOR.
Please Follow my Twitter for regular threads in the NFT Investment space.
twitter.com/DCLBlogger
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.