The Decentraland Foundation was founded in 2015 and is behind the creation of Decentraland - a metaverse application built on the Ethereum network. It is designed to track ownership of digital lands, similar to other metaverse projects such as The Sandbox. Each virtual real estate parcel is represented by an ERC-721 NFT token called LAND, and can be purchased with the ecosystem’s token called $MANA. $MANA can also be used for payment of other goods and services in Decentraland.
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