The mining network NFT game is a Free To Play and Play To Earn game built on the WAX blockchain. The NFT-based mining game was launched in May 2022. The website has an old layout of icons that looks like windows 95 or 98. When you register for the game, you will receive a free NFT in your wax wallet, which can be staked to start playing and earning rewards.
The mining network game is unique, claiming their economic model that has never been seen before in the blockchain. The extracted game resources are not equal to the number of tokens issued, and this ensures that the token prices increase constantly and the players are protected from excessive inflation. The mining network game has a native token called BTK (Bitcake). The game shares that you receive while playing the game can be converted into Bitcake (BTK).
NOTE – The mining network no longer offers the Free to Play option, which was changed after this article was originally written.
How to play Mining Network NFT game
To play the Mining Network NFT game, you must head to the official website at miningnetwork.io. The website has an interface of an old windows operating system. To get started, search for the “start” button among the layout of icons and click on it. You will be prompted to log in, connecting your WAX wallet with the Mining network website. After logging in, create an account, and approve the transaction.
When you are done linking your wallet and creating an account, you will be given a free ASIC miner. The miner starts at level zero and can be leveled up to level 100, for the free version, for additional mining power and getting more rewards. To begin playing, locate and click on the “My Asics” icon to bring up the free YOLASIC given to you upon registration. To start mining, you have to stake the free YOLASIC. Once this is done, you start earning shares, and you can see your mining speed and some other stats at the bottom right of your page.
The shares you claim while mining can either be used to upgrade your free YOLASIC to increase its mining power or can be converted to BTK (Bitcake), the game’s native token, and sold for profit. Upgrading your miner might take a few minutes depending on the level. However, you can speed up the process with a few shares. To exchange your shares for BTK, click on the exchange icon. The window that pops up tells you the exchange rate, and you can sell your shares for BTK.
Here is a great video that shows you the actual gameplay!
Mining Network Tokenomics
There are two tokens that can be obtained from playing the mining network NFT game.
The share token is the game resource and can be claimed as a reward for mining. After staking the free NFT you get upon registration, you start to earn shares immediately. These shares are the results of the computational operations obtained by using the miner.
To get the shares after mining, you must claim them by clicking “Get rewards” through your staked miner. The claimed share tokens can either be used to upgrade your miner and get more shares per second or exchanged for Bitcake (BTK).
Bitcake (BTK) Token
BTK is the short form for Bitcake, which is the Mining Network NFT game’s native token. Bitcake is an eosio token that is given to the players of the Mining Network NFT game in exchange for their game shares.
BTK token has a total supply of 21000000 BTK, and it halves at regular intervals to maintain the price of the token. After mining and claiming your share tokens for a while, you can decide to exchange a significant amount for BTK, which can then be sold on crypto exchanges.
What are the Key Burning Mechanics?
The mining network NFT game, like every other project, has token burning mechanisms which are used to maintain the price of the token. The total supply of BTK (Bitcake) will be halved at regular intervals, and halving decreases the number of game tokens added to the game token pool. Also, there would be a reduction in production in some estimated time frames, as indicated in the LightPaper.
While some of the funds received by the mining network team will be used to purchase tokens and game assets from the market, 100% of the game token obtained from the game market will be burned, and all redeemed tokens and assets will be burned.
What’s next for Mining Network?
The Mining network is in phase one of its roadmap. The roadmap has nine stages, however, the project is in its 4th stage – the game launch and micro drop. The following stages on the roadmap include:
There will be an establishment of a mining experts council that consists of economic experts, opinion leaders, and high-level specialists. Their job will be to monitor the team’s actions and provide recommendations and suggestions for improving the project when needed.
Hacker assistance refers to NFTs that will give you temporary benefits as a player of the game. These benefits include reduced update cost, reduced update time, temporary increase in mining rate, and reduction in the cost of update speed.
Cryptobank is a gaming tool that helps the mining network community to raise and distribute funds. The funds received by the mining network team after the crypto bank launch will be distributed in percentages and used to purchase tokens and game assets in the market. Also, all redeemed tokens, assets, and game tokens earned from the gaming market will be burned.
To protect the cards of the previous levels from losing their relevance, blends of several cards of the previous class and the corresponding level of pumping software per 1 card of the
the current level of ASICs are created.
It is important to note that the plans on the Mining network roadmap are subject to change, removal, or indefinite postponement.
How is the Mining Network Community?
Generally, the mining network community is excellent, and the admins are ready to answer your questions. After joining the discord server, you have to verify your identity before you are allowed to access some of the channel’s features. Also, there is a help section for newbies on the discord server.
Mining Network NFT Game Recap
Overall the project has a lot of promise and a unique look compared to other games on WAX. The community seems nice and helpful.
I’ll be curious to see if the token economy lives up to their comments in the whitepaper. Are the time of writing this article, the Mining Network project is not whitelisted on Atomic Hub. Despite this, they are doing extremely well.
If you like these types of reviews, don’t forget to check out our WAX Game Review sections!
Last Updated on June 17, 2022
Warrior Lion Gaming and our team are NOT operating as financial advisors, so make sure to always do your own research before jumping into any games. You need to take responsibility for your decisions and ensure the project is right for you and your situation. Thank you!