- Mining Network grants free NFT to all new players.
- Game is trying to avoid bots minting too many NFT due to zero fees on WAX blockchain.
- BTK token will be deflationary, while in-game resource production grows.
Mining Network, one of the quietly successful games on the WAX blockchain, briefly took the top spot from Alien Worlds and Splinterland. The peak in users made for a successful week, after Mining Network launched a native NFT marketplace and held a special pack sale.
Mining Network had a relatively late launch among P2E games, arriving at the end of May 2022. The game had an ambitious goal of revolutionizing NFT gaming, while also offering a free version. Mining Network has not yet launched its native token to exchanges, but a BTK asset is available to purchase in-game NFT packs.
Mining Network Simulates ASIC Competition
Mining Network is built on the premise of mining, where ASIC and farm managers compete to produce blocks on a blockchain. Instead of buying actual ASIC, the game offers NFT equipment, which then has statistics to determine its mining power.
The game is accessible with a WAX cloud wallet or Anchor protocol wallet, to buy ASIC and game packs.
After the simulated mining, players can also harvest BTK tokens and upgrade. Unfortunately, soon after its launch, the no-gas NFT minting meant bots took over and created too many ASIC. The game has responded with account bans, but the risk of oversupply remains.
The game still has no value balance accrued, and its earnings potential is still undefined, but there were 215.3K registered users at the peak. After that, the game fell to about 17.5K registered users per day, similar to smaller P2E games.
What Makes Mining Network Promising
Mining Network has taken up a new economic model. Firstly, all new players will receive a simulated ASIC machine NFT to start their resource generation.
Then, the BTK token will not be generated automatically. Instead, the game will produce more in-game resources, while also slowing down the issuance of BTK. This will ensure that even if the game scales, it will not be strip-mined and the token will have more chance to preserve its value.
A similar model is used in Sunflower Land, where resource creation is constant, but the SFL token generation is slowing down over time in events similar to a “halving” of the block reward.