Metaverse Coins: Decentraland Vs Axie Infinity (AXS): A Comparative Analysis of the Most Popular Coins
To Find Out More About Decentraland (Mana), Read This:
Decentraland (MANA) claims to be a virtual reality platform that is powered by the Ethereum network. This means that users can not only make apps and content but also make money from them.
In a virtual world, users can buy land and later use it to make money or build on it. First, it was made available for sale in 2017 for $24 million (ICO). Launched in 2019: The beta of the platform went public in 2020. Over time, people have come up with a wide range of things to do on the available land. Some of the things you can do include interactive games, virtual interactions, and huge 3D scenes.
They’re called LAND and MANA. The network has two types of tokens: If you want to get another ERC-721 LAND token, you need to burn your ERC-20 MANA to do so. On the Decentraland (MANA) marketplace, the MANA coin can also be used to pay for avatars, names, wearables, and other items.
What Is Axie Infinity?
Axie Infinity has more active users than any other game on Ethereum, and it has made more money than almost $34 million in sales. As a child, I used to play games that were based on the Pokemon series. Instead of Pokemon, the game is made up of non-fungible tokens (NFTs) called Axies, which are used to build the game.
Axies are one of the few types of NFT that can make you money that isn’t just based on price. Mix and match different types of these creatures to make the best team to fight for cryptos. If you want to add them to your team or sell them, you can even breed them.
SLP and Axie Infinity Shards are the two tokens that make up the ecosystem, and they make up the two main tokens (AXS). Axie Infinity’s governance token, AXS, will one day be used to buy and sell Axies. As of now, AXS is mostly used to breed Axies. SLP is also needed to breed Axies, but Sky Mavis has even fewer plans to make that token more useful.
Players get SLP by fighting with their Axies against other players or computer-controlled opponents and getting them to fight back. When you start the game, SLP rewards aren’t very high. As you get more experience and play against better players, the rewards get better, but they start small. The game itself is very simple, and it doesn’t look like it’s the main thing in the Axie Infinity world.
Key Takeaways of Top Metaverse Coins
Things That Make Decentraland (Mana) Different Are:
- Decentraland (MANA) is made for businesses, artists, and people who want to find new ways to make money or find new ways to have fun.
- Many projects are growing that use an autonomous organization (DAO) structure to run them. Decentraland is one of them.
- The people who own MANA coins are in charge of the world of Decentraland.
Axie Infinity (Axs) Has a Lot of Unique Things About It:
- Axie Infinity is a game that uses the blockchain to trade and fight. Some of the players own part of the game.
- All of the Axies in the Axie ecosystem are non-fungible tokens (NFTs). Each Axie has different strengths and attributes that eventually fight each other in a battle.
- It’s called Axie Infinity shards (AXS) in the Axie Infinity ecosystem. It’s a unique token that can be used to make decisions.
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)|
To Make Money From Axie, You Need to Figure Out How
Many ways to make money in the game. Unfortunately, all but one of these methods have very high start-up costs. When you just play a game, you get money. You need to own at least three Axies to play the game and start getting SLP and AXS tokens, which you can use to buy things in the game.
Scholarships make it possible to play and earn SLP even if you don’t own any Axies. It’s possible for people who have extra Axies but not enough time to play the game to hire people called scholars, who will earn SLP on their behalf. They let the player use a team of Axies and split the rewards with an agreed-upon split, like 70/30, 60/40, 50/50, and so on.
Be aware that it is a job that will take up a lot of your time. It’s also hard to become a scholar because there is so much competition for these jobs.
It might be best to use Axie Infinity to breed Axies. You need two Axies that haven’t been bred a lot before, so you can start. It costs 4 AXS and an amount of SLP that changes with how many times each NFT has been used for breeding. If you breed two Axie, it will take the new Axie five days to reach maturity and become an adult that can be used in the game. If you sell these NFTs on the Axie market, you can make a lot of money.
Cryptocurrency: How Much Can You Make With It?
In Axie Infinity, there are many ways to make money with crypto. Each one has a wide range of possible profits. Playing the game for a long time each day could earn you anywhere from $8 to $40 each day, depending on how many Axies you have, how long you play, and what extra incentives are available at the time. Offer scholarships if you have a lot of Axies but don’t have enough time to use them all.
This could be your best source of passive income in the game. As long as you make reasonable profit splits, you could get 50 percent to 70 percent of the profit your students make. If you have many scholars, each with a set of three Axies, you could make a lot of money without doing anything.
Breed Axies because there is so much demand for NFTs. This makes it a lot easier to make money from breeding them. The first time you breed two Axies, it costs 4 AXS and 150 SLP (about $211 at the time of this writing) plus transaction fees. There should be at least a small profit if the prices of AXS, SLP, and Axies stay the same.
On the market, Axies sell for at least 0.1 Ether (about $270 now). If the prices of AXS and SLP keep going up, but the prices of Axie stay the same, breeding will become riskier and less profitable. If you want to try both of these things, you can breed a lot of Axies and hire scholars to play with them at the same time. There is a risk that if one thing doesn’t work out well, other parts of Axie Infinity could fall apart soon after.
How Do You Play Axie Infinity?
To trade cryptocurrency, you need to open an account with a cryptocurrency exchange
To play with or breed Axies, if you don’t have enough Ethereum, you’ll need to buy some on an exchange. Coinbase (NASDAQ: COIN), Gemini, Voyager, Crypto.com, and Binance are some of the best exchanges that allow you to trade Ethereum.
Once you set up an account, you show the exchange that you are who you say you are. A lot of the time, this means giving your name, address, Social Security number, and a picture of your driver’s license or other valid ID.
Buy some Ethereum (ETH).
As soon as your account is verified, you can add money to it with money from your bank account or with another cryptocurrency that the exchange allows you to use. Then, you find a trading pair with Ethereum and the asset you used to fund your account and buy it.
Send Your Ether to a Wallet for the Ethereum Platform.
Choose a software wallet to use when you use the Axie Infinity marketplace. In terms of wallets, Metamask is very popular. It is used by almost every platform on Ethereum, and it is very easy to use. On iOS or Android, you can get it in the form of an app, or you can get it as a browser extension for Google Chrome.
When You Buy Ether, You Can Put It in Your Ronin Account.
Sky Mavis built a sidechain called Ronin that is linked to Ethereum to speed up transactions and cut down on fees for Axie Infinity and future games. The sidechain is called Ronin.
Download Ronin Wallet as a browser extension in addition to MetaMask so that you can use the Axie market on the web. When you’re done, go to the Ronin-to-Ethereum bridge, connect your MetaMask wallet, enter your Ronin address, and finish the deposit.
Shop for Axies on the Axie Infinity Market.
You’ll need at least three Axies to play the game or two to start breeding to do that. Among the most important things to look at are how many times the animal has been bred and how pure it is. Build a strong team with high-health Axie and another that can deal lots of damage if you want to win. As soon as you buy your Axies, you can play the game or breed them to get more.
Use Your Axes to Help You Move Around.
Now, just start the game and play. You can play with other people or against computer-controlled monsters to get SLP tokens, which you can use to buy things. To make more money, you could breed your Axies and sell some off to make more money.