How Did Decentraland Do in Q3-2023?

The interest in metaverses appears to have waned. The new shining star on the horizon is AI. For example, Mark Zuckerberg has quietly withdrawn from the metaverse. He had a $24 billion loss. His new toy is also AI.

Nonetheless, metaverses are still up and running. Decentraland is one of them. So, what’s the current state of Decentraland and its MANA token? Here’s a recap of their Q3-2023 report.

Community Engagement & Creator Support

• The platform released Handwear. This is a new Wearable category. Creators included the likes of Nikki Fuego and CKBubbles.
• The Newsletter saw a revamp. The ‘new user welcome flow’ also underwent a change. All platform features are now explained in a step-by-step set-up to new users with nine emails.
• There was an ‘All About Emotes‘ campaign which lasted four weeks. Emotes are part of your avatar, like animated sequences. Recently, the team released Emotes 2.0. Now they can even have props and sound. Since their release a year ago, August and September saw the highest secondary sales to date. The picture below shows some emotes.
• Community members can now vote on contests. This included the ‘2023 Decentraland Game Jam’ and the ‘All About Emotes’ contests.
• The introduction of the Community All Hands Presentation. This replaces the previous AMA-style meet-ups.

Spreading Awareness of Decentraland

• The Decentraland blog stands at the forefront here. Besides keeping the community informed, it also brings in new users.
• We also saw the start of an Ambassador program. The Foundation and the DAO co-fund this project. However, there were only 24 applications until early October. So, there’s room for more Ambassadors.
• Visiting events in real life. The Foundation attended, among others, these events during Q3-2023.
• Hackathon at NFTSE on July 14-15 in Europe.
• ETH Argentina from August 16-19. The Foundation hosted a booth and a workshop.
• Permissionless II between September 11th and 13th in Austin, Texas. Joined the panel ‘Beyond the PFPs’.
• Web32 Belgium Workshop on September 27th with a workshop.

Decentraland in the Media

During Q3, this focus was on fashion, the metaverse’s future, and AI. Among others, Decentraland found itself back on CNN’s ‘The next frontier‘. This gives global exposure. The team also contributed with their expertise to a Forbes article. Furthermore, plenty of crypto and NFT-related outlets covered Decentraland.

There was also the MESH Art Fair & Metaverse Art Week 2023. This is where the Foundation partnered with Vueltta, an art collective. The result was MESH, an art fair. This highlighted, among others, VR, metaverse, and 3D creators. In total, close to 100 artists contributed to various events.

At last, the Foundation introduced Monthly Event Themes. The aim is to get more community involvement and decentralize platform-wide events. Turn ideas into realities.

Product Releases & Platform Updates

The various teams at the Foundation delivered a variety of updates and new releases. Let’s take a look. For example.

Major Releases

• The Handwear, these are new Wearables. 
• A new feature is the Portable Experiences. These open the potential for lots of creativity. They allow you to interact with hidden layers. Part of this experience is the Smart Wearables. For instance, jet packs that allow you to fly.  
• Emotes 2.0. An upgrade that adds sounds and props to the Emotes.
• A DCL (Decentraland) camera, which allows you to share your experiences in DCL.

Worlds

There’s a new World for ENS domain holders. Furthermore, World owners can list their events on the main Events page.

For Creators

Creators can now upload avatar animations. They can also add quests, which generate interactive content and excitement. 

To improve movements, there’s the new SDK 7. This should make movements smoother. The Web Editor will replace the Builder. This will also add various new smart items. For example, doors and levers with actions and triggers.

Exploring Decentraland

There are new map improvements. This makes it easier to navigate your way around DCL. The Search functions now include featured locations in Genesis City and Worlds. See the picture below. There will also be additions to the scene categorizations. The Places page will see additions of gaming, gambling, or art categories.

There are also new Scene Content Moderation options. The ratings go from Teen PG 13+ (for all users) to Adult PG 18+, or Restricted. You can now flag scenes. For example, if you think a scene is NSFW. A moderator will check the scene and apply an appropriate rating.

Source: Decentraland play

Conclusion

The metaverse space is experiencing difficult times. Interest in the metaverse has waned, and many big players are limiting their support. For example, Disney, Microsoft, and Meta. Nonetheless, Decentraland remains a big player in the blockchain-driven metaverse. They stay on the ball and work hard to stay in the spotlight. We recapped Q3-2023 for you.

The current MANA price is $0.343872. This is 12.1% up during the last 24 hours. However, over one year, MANA is 43.6% down and 94% to its ATH. The market cap is $628.4 million. Their max and the total supply of MANA tokens are 2.193 billion tokens. Out of these, 1.844 billion tokens circulate.

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