Decentraland (MANA)

by | Aug 18, 2021

About Decentraland

Decentraland is an online virtual world designed with the blockchain community in mind. Users can explore the environment and trade digital assets like virtual real estate and NFTs.

True to its principle of decentralization, users can control the rules of its online world by voting on governance proposals. Users will need to own some of its native cryptocurrency token, MANA, in order to make purchases and vote on proposals. Decentaland is free to use and attracts users seeking a more interactive crypto experience.

Suggested further reading:

Why Donate MANA?

Since MANA has appreciated significantly, donating MANA and other cryptocurrencies can save you money on your taxes. Because the IRS classifies cryptocurrency as property, this means you don’t have to pay capital gains tax on your donation and can deduct the amount on your tax return. This is why financial advisors recommend you donate your most highly appreciated assets first. Users who donate and enter their email address will automatically get a compliant tax receipt.

Don’t want your MANA stack to decrease? Repurchase the same amount of MANA afterward and still get the same tax benefits to offset some (or all) of your gains.

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