The Decentraland token surged to the start of the day with a rise of more than 11%, sending its price up to $3.09 a single day after Valentine’s Day.
CoinMarketCap reports that MANA was trading at $3.06 at the time of writing. That’s an increase of 10.38%.
Let’s take a deep dive to examine what is behind the current MANA price hike.
What is Decentraland and how can it help you?
Decentraland is a virtual world platform that uses Ethereum blockchain and a Unity engine. It allows players to create their own experiences and to purchase NFTs.
Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token and can be burned to obtain non-fungible ERC-721 ERC-721 tokens.
Decentraland allows users to explore investment options and purchase requirements without any cost. Decentraland offers hundreds of places to visit, as well as many experiences such the Casinos and games. It is the most popular platform for users who are interested in the latest crypto trends like Play-to-earn and Defi.
Why MANA prices jumped 11% today
The recent price rise in Decentraland (MANA), is largely due to the announcement by Samsung yesterday (Valentine’s Day) regarding their event in Decentraland’s sustainability Forest.
Users with quest budge will be able to trade it for the valentine’s wearable, according to the announcement.
You can show your love for someone with a quest badge by blowing kisses inside the #837XSustainability Forest @decentraland to trade it for the Valentine’s Day wearable.
No badge? You still have time to get it! https://t.co/qiDrYuH71U pic.twitter.com/Ih13igZSwI
— Samsung US (@SamsungUS) February 14, 2022
To get the quest budge and trade it for wearables, users must, however, collect five boxes that are scattered across Samsung’s plot of land to receive a badge which they will later bring to the NPC.
Decentraland’s partnerships with big companies like Samsung are no doubt starting to boost the MANA and LAND coin prices.