In the world of blockchain and cryptocurrencies, the emergence of novel tokens is a regular occurrence. This article aims to thoroughly explore MonaVale (MONA), a relatively new entry in the sector, delving into its market value, supply, foundational technology, history, purpose, creators, advantages and potential drawbacks.
What is MonaVale (MONA)?
MonaVale (MONA) is an ERC-20 based cryptocurrency that operates within the Decentraland platform. Decentraland is a virtual reality platform powered by the Ethereum blockchain, where users can create, experience, and monetize content and applications. In this digital world, MONA operates as the proprietary token, facilitating the purchase of virtual land, also known as Non-Fungible Tokens (NFTs).
Founders and History
Decentraland, and subsequently MonaVale, emerged from the vision of Esteban Ordano and Ariel Meilich. They launched Decentraland in 2015, and the platform’s first LAND tokens (virtual real estate parcels) were sold in 2017. MONA is a more recent development, established as the platform’s proprietary token.
Purpose and Vision
The fundamental aim of MONA is to facilitate transactions within Decentraland, particularly focusing on virtual real estate transactions. MONA was introduced to foster the economic dynamics within Decentraland’s ecosystem by providing a transactional currency that maintains consistency across the platform.
The vision behind MONA aligns with the larger ambition of Decentraland: to create a completely user-owned virtual world where creativity and financial opportunity blend seamlessly. This world is made up of parcels of land, each represented by an NFT, which can be purchased, sold, and interacted with, using MONA.
Technology and Supply
MonaVale (MONA) is an ERC-20 token, meaning it exists on the Ethereum blockchain. Ethereum’s infrastructure allows smart contract functionality, essential for executing secure and transparent transactions within the virtual world of Decentraland.
The total supply of MONA, much like its market value, is subject to change over time. As a result, potential investors and users should check real-time data from reliable cryptocurrency market information sources.
Strengths and Limitations
The primary strength of MONA lies in its integration within the Decentraland platform. As a designated currency for a growing virtual world, MONA could benefit from the growing interest in NFTs and virtual reality. Furthermore, by leveraging Ethereum’s robust blockchain, MONA enjoys enhanced security and the benefits of smart contract technology.
However, MONA also faces potential limitations. The value of MONA is closely tied to the success and adoption of the Decentraland platform, which might face competition from other emerging virtual worlds. Like all cryptocurrencies, MONA is exposed to the volatility of the cryptocurrency market.
Conclusion
MonaVale (MONA) represents an exciting development within the intersection of virtual reality and blockchain technology. The coin plays a crucial role in the thriving ecosystem of Decentraland, potentially attracting interest from both virtual reality enthusiasts and blockchain investors. As with any investment, prospective buyers should conduct comprehensive research and consider the inherent risks before making a decision. This promising token undoubtedly deserves attention in the evolving digital landscape.
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| Contract |  0x275f5ad03be0fa221b4c6649b8aee09a42d9412a |
| Website | https://www.digitalax.xyz/ |
| Explorers | Etherscan Ethplorer Polygonscan |
| Community | |
| API idd | monavale |
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