- What is Decentraland(MANA)?
- What is Axie Infinity(AXS)?
- Key Takeaways of MANA & AXS coin
- MANA vs AXS Comparison Table
- AXS vs MANA Price Trends
- Should you buy AXS or MANA coin
- How to invest in MANA and AXS coin
Decentraland(MANA) Vs Axie Infinity(AXS): Comparative Analysis of Top Metaverse Coins
What is Decentraland (MANA)?
Decentraland (MANA) calls itself a virtual reality platform that is powered by the Ethereum network allowing users to not just create an experience but also monetize the applications and contents.
It is a virtual world where users can purchase land and can later navigate to monetize it or build upon the same. It was launched back in 2017 with a $24 million initial coin offering (ICO). The beta of the platform was launched in 2019 and was made public in 2020. Over time users have created a wide variety of experiences on the parcels of LAND available. The experiences range from interactive games, virtual interactions, and sprawling 3D scenes. The network has two tokens LAND and MANA. While MANA is an ERC-20 token that must be burnt to acquire another ERC-721 LAND token. MANA coin is also used to pay for various avatars, names, wearables, and other products available on the Decentraland (MANA) marketplace.
Additional Read: Is MANA a good investment?
What is Axie Infinity (AXS)?
Axie Infinity is a blockchain-based game that is also partially owned by the players. After NFTs gained popularity, NFT based games also became quite successful. They have been in the market since 2017 however, it’s the recent NFT boom that helped them catch the attention of investors and crypto enthusiasts.
Axie Infinity, however, claims itself to be a little different from the other NFT game predecessors. With the current market capitalization of $3,349,286,536 (February 21, 2022. 1 PM IST) the game has achieved staggering success. This popular blockchain game was inspired by the successful gaming series Pokemon. It has very flexible gameplay allowing users to collect various types of digital pets or NFTs commonly called Axies. These axies are then raised, bred, and eventually battled against one another in the entire Axie ecosystem.
The current price of AXS Coin as of February 21, 2022, is $55.39 and it is currently the number one Ethereum based gaming decentralized application on the basis of monthly active users. Keep a closer eye on the current market movement of Axie Infinity (AXS) and Decentraland (MANA) with the CoinDCX app.
Key Takeaways of Top Metaverse Coins
The unique features of Decentraland (MANA) are:
- Decentraland (MANA) is built for businesses, creators, and individuals looking for new business opportunities or artistic mediums and sources of entertainment.
- Decentraland is one of those growing projects that utilize an autonomous organization (DAO) structure for governance.
- MANA coin holders are in control of the governance of the Decentraland world.
The unique features of Axie Infinity (AXS) are:
- Axie Infinity is a blockchain-based trading and battling game partially owned by the users.
- Each Axie is a non-fungible token (NFT) with a different strength and attributes which eventually enters into a battle within the Axie ecosystem.
- There is a unique governance token called Axie Infinity shards (AXS) within the Axie Infinity ecosystem.
Additional Read: Top 10 Metaverse Cryptos 2022 by Market Capitalization
Decentraland(MANA) Vs Axie Infinity (AXS)
|Comparison Basis||Decentraland (MANA)||Axie Infinity (AXS)|
|Founders||Ariel Meilich and Esteban Ordano (linkedin)||Trung Nguyen and Aleksander Larsen|
|Blockchain protocol||Ethereum blockchain(ERC-20)||Ethereum blockchain|
|Use case||Native token to buy land on the Decentraland metaverse
|Blockchain-based battling game.|
|Circulation Supply**||1.83B MANA||60,907,500.00 AXS|
|Consensus method||Proof-of-stake (PoS)||Proof-of-work (PoW)|
MarketCap* and Circulation Supply** as of February 2022
Also Read: BLOCKCHAIN GAMES
MANA vs AXS Price Trends (Monthly)
Source: Trading View
Additional Read: Decentraland(MANA) vs Sandbox(SAND)
Should you buy MANA or AXS Coin
Developed by the amazing team at Sky Mavis, Axie Infinity is an NFT based virtual world game. In the universe of Axie Infinity, the users are allowed to make money by participating in various activities such as raising an axie, breeding it and ultimately fighting them against one another. While on the other hand, the Decentraland (MANA) token is the native token of Decentraland metaverse which is owned by its users and managed by a decentralized autonomous organization (DAO). Just like other blockchain-based digital worlds, Decentraland can be explored with the help of numerous avatars where the users can even engage in barter trades, buy digital art and utilize the MANA coin for various financial purposes.
The AXS coin has shown tremendous growth since the time it made it to the centralized crypto exchanges. Experts believe that crypto investors looking for short-term profits would want to consider AXS as one of their options. However, this crypto asset cannot be used as a currency for regular transactions since it’s an ERC-721 non-fungible token. Decentraland comes with both ERC-20 and ERC-721 tokens providing for different use-cases. To simplify it, MANA being an ERC-20 token can be exchanged as well as liquidated which shall enable the users to acquire gains faster.
That being said, we always advise the readers to do their own research. At the end of the day, the investment must be logic-driven and not emotional. You must find the exact reason as to why you prefer a certain crypto asset, it can be market capitalization, circulating supply, use-cases, utility in solving real-life challenges, and many more. Once you have found it, the answer to your question can be easily found.
Additional Read: What are Non-Fungible Tokens?
How to invest in both Decentraland(MANA) and Axie Infinity(AXS)
Investing in crypto is super simple, safe, and secured with CoinDCX. It doesn’t matter whether you want to invest in the MANA coin or AXS coin, we have got you covered.
Here are the 3 simple steps to buy your first metaverse coin with CoinDCX.
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