How is Decentraland funded?

Decentraland Mining Decentraland was built on Ethereum which is currently a Proof-of-Work blockchain , though it is in the process of transitioning to Proof-of-Stake.

MANA, unlike other Proof-of-Work (PoW) cryptocurrencies (I.e, Bitcoin, Ethereum, etc), is based on the Proof-of-Stake (PoS) consensus process, making traditional mining impossible. There are, however, alternative methods to profit from Decentraland MANA, and the platform’s other assets.

Opened to the public in January 2020, Decentraland is an Ethereum-based virtual world, or metaverse, that is owned by its users and governed through a decentralized autonomous organization (DAO).

Decentraland makes money by issuing and holding its MANA tokens . The platform was able to raise an initial $26 million during its ICO by selling MANA to interested investors. Founded in 2015, Decentraland has become one of the world’s leading metaverse platforms. It has raised over $50 million in funding to date.