Decentraland is a decentralized virtual reality platform. Powered by the Ethereum blockchain, it is the first decentralized metaverse created, managed and owned by its users. The most popular game on Decentraland is Decentral Games, the play-and-earn gaming project launched in October 2021, which now accounts for ~60% of all traffic within the Decentraland metaverse.
One of Decentral Games’ products now has the largest grant in Decentraland’s history in support of its ICE coin. After a hard fought battle, the Decentraland DAO has just awarded a $1M MANA grant to help Decentral Games’ $ICE token in preparation for the launch of their highly anticipated sit-and-go Tournament competition and also to strengthen their $USDC – $ICE liquidity pool.
The application, which sparked much discussion in both communities and was narrowly passed, would be one of the largest ecosystem grants Decentraland has ever awarded.
Decentral Games submitted the original proposal back on May 20, where it sparked a heated debate among DAO members. Finally, on May 25, Decentral Games won with 59% of the total votes. Now, Decentral Games will use the funds to stabilize the ICE Poker ecosystem as it rolls out its latest upgrade, with the entire $1M in $MANA earmarked for providing rewards in the Quickswap staking pool for the next three months .
Decentral Games CMO Matthew Howells-Barby commented on the grant: “The passage of this proposal shows the support we receive from the Decentraland community and how important Decentral Games has become as a major contributor to the daily active users. These incentives will allow us to create further stability in our ecosystem before we launch our new sit and go poker tournament mode, which we believe will bring a whole new experience to our Decentraland venues and help us, thousands to bring new users on board the nascent metaverse.”
Miles Anthony, CEO of Decentral Games also commented: “We have believed in Decentraland and its role in providing an interactive 3D front end to the open metaverse since its inception in 2017. Since then we have purchased over 1000 LAND parcels and invested millions of dollars to create engaging content that attracts and retains over 60% of the platform’s users. This MANA allocation is a stepping stone to boosting our in-game economy as we prepare to launch ICE Poker Sit-n-Go tournaments along with other important initiatives that drive organic demand and value for ICE and our ecosystem strengthen long-term sustainability. With the support of the Decentraland team and community, we look forward to bringing the next million users to Decentraland and the nascent Metaverse.”
The plan will also bring additional liquidity into the pool and help correct the imbalance that is causing ICE holders to become MANA holders.
Founded in 2017 by Ari Meilich and Esteban Ordano, Decentraland is a virtual reality platform that allows users to explore the metaverse. The platform has more than 300,000 monthly active users and 20,000 daily active users.