Nexo Expands Territory: Decentraland’s MANA Is Here!

Feb 16, 2022•3 min read

At Nexo, we are all about staying on top of trends – we look to spot them and set them. With GameFi taking the blockchain space by storm recently, it is only natural for Nexo to add the most appealing cryptos to our exchange. MANA’s addition to our diverse cryptocurrency list, allows our members to buy, exchange or borrow against Decentraland’s native coin, which has posted some impressive growth records since its inception, becoming a leading GameFi token.

  • Buy: Buy MANA on Nexo and get it in your wallet within seconds. You earn up to 0.5% back on each exchange transaction.*
  • Exchange: Convert to and from MANA on the Nexo Exchange instantly.
  • Boost MANA: Use the Nexo Booster and get 3x on your MANA to buy more of it or another crypto!
  • Borrow: Get instant credit against MANA at rates as low as 0% APR.
  • Top Up: Transfer MANA from any external wallet with #ZeroFees.

*The crypto rewards you receive depend on your Loyalty tier. The higher your tier, the more rewards you get. For example, Platinum users get 0.5% back.

A Virtual World Makes for a Real Asset

At Nexo, we constantly strive to extend our cryptocurrency offerings and Decentraland’s MANA allows our members seamless access to this DeFi metaverse crypto. The entire NFT and digital asset-based games space is expanding at a rapid pace currently, with new projects and networks emerging as we speak. What makes MANA exciting is that it has grown exponentially during the last year, gaining 1000% in capitalization! And by the way things are looking, Web 3.0 virtual-world gaming projects aren’t showing any signs of slowing down.

MANA is the utility token of Decentraland’s network – a virtual gaming take on the metaverse, where users interact with each other. More importantly, MANA allows you to build, create, experience and monetize on content and applications, featured in Decentraland. This added-value aspect of cryptocurrencies is what makes MANA a worthwhile investment to check out on Nexo.

Buy MANA on Nexo

Decentraland’s platform is one of the GameFi pioneers and a whole new virtual world for players to explore. To make this world even more easily accessible, we’ve made adding MANA to your Nexo account, and benefiting from our services effortless: Use your Visa/Mastercard debit and credit cards or simply swap another cryptocurrency to get MANA on the Nexo Exchange. The new cryptocurrency will show up in your account immediately.

The currently available pairs are:

Enjoy MANA To The Fullest

Nexo enables you to make the most of your MANA holdings with our Instant Crypto Credit Lines™. Simply borrow cash or stablecoins against MANA, without selling it. The details on a standard Nexo credit line are below:

  • Interest rates starting from 0% when borrowing with an LTV of under 20%. Show us a bank that can beat that!
  • A permitted LTV of 30% for MANA
  • A minimum borrowing amount of just $50
  • No credit checks
  • No monthly repayments
  • No origination fees
  • Instantly settles in your account - from application to approval in seconds

Learn more about Nexo’s Loyalty tiers and Instant Crypto Credit Line interest rates here and see how you can make the most of your MANA. If you’re a Gold or Platinum client, borrowing at an LTV under 20%, then you qualify for our low-cost and 0% rates - read all about them here.

Boost That MANA! If you’re looking for leverage to get more MANA try the Nexo Booster. You can boost any asset to get up to 3x leverage to get more MANA or another cryptocurrency of your choice!

We’re always excited to present a new addition to the Nexo’s product suite, that gives our members even more freedom to explore and transact with new cryptocurrencies, so visit us frequently for more exciting news!

About Decentraland

Decentraland is a virtual-world gaming platform, built on the Ethereum blockchain, with its native MANA ERC-20 token facilitating all in-game transactions. Players can interact with each other, acquire land (and build various infrastructure on it), buy a huge variety of NFTs and in-game accessories for their avatar, as well as monetize on their work and the in-game land they own. Decentraland has grown substantially in the past 12 months, gaining around 1000%(!) in market capitalization, partly due to the growth of the entire metaverse-oriented GameFi and NFT space.