Using virtual ASICS to mine NFT’s, while earning Shares for playing, then using those shares to upgrade your ASICS or exchanging for BTK tokens, which you can then sell for other crypto’s, and ultimately $USD (cash)….This MiningNetwork’s business case, and a very interesting idea since users essentially ‘earn’ those Shares for free just by playing. You can up the ante by purchasing additional ASICS at AtomicHub to boost your NFT mining power and Share earning power more quickly, increasing your passive earnings.
It will be interesting to see how the popularity and rankings of games like Alien Worlds, Mining Network and Farmers World change and swap on WAX over the next couple of quarters of 2022.
Read the article below for an overview of how to get started playing Mining Network (MiningNetwork), accessing your NFT ASICS, upgrading, earning Shares and rewards and more:
Recently, a game called MiningNetwork has become one of the most popular Metaverse NFT games in cryptocurrency. MiningNetwork, according to DappRadar, has surpassed games such as Alien Worlds and Farmers World in the past week with over 437k users.
What Is MiningNetwork?
MiningNetwork is a WAX blockchain-based NFT mining game introduced in March 2022. With MiningNetwork, users can earn rewards from its platform through free-to-play and play-to-earn models.
Users receive a free NFT to start playing and earning rewards as soon as they register. The Mining Network introduces a brand new economic model never before used on the blockchain.
The game has a unique Tokenomics systems where the number of extracted game resources doesn’t equal the number of tokens that are issued. The number of game resources will increase as the number of players increases and as each player’s game assets improve. Additionally, the number of game tokens that are released will diminish constantly, contributing to bullish momentum for each token and saving the cryptocurrency from excessive inflation.
How to Start Playing MiningNetwork?
To begin participating in the MiningNetwork game, head over to the official website, click on the Start button on the bottom left, click “Login,” and log in with your WAX Cloud Wallet.
Once logged in, click the Start button and select Create Account. Approve the transaction, and your account should be created.
You should receive a confirmation message saying, “Welcome to the MiningNetwork project.”
To start mining, click the “My Asics” icon, and you should see a level 0 YOLASIC. Click the Stake button, approve the transaction, and your YOLASIC will be successfully staked.
You will notice several stats on the bottom right of your screen, including the Total Rate, My Rate, Balance, and Tokens (BTK).
You will start earning Shares right away, which you can use to upgrade your YOLASIC to increase its mining power.
To collect your reward select the YOLASIC and click GET REWARD. You collect shares relatively fast, and within a minute or so, you should have enough shares to upgrade your YOLASIC.
The idea behind the game is to earn shares and use them to upgrade your ASICs, which increases their level and Mining Power. The higher the level, the more shares it takes to upgrade your ASIC.
Once you gain a significant number of shares, you can head over to the Exchange icon and sell your shares for BTK tokens, which have real value that you can sell for other cryptocurrencies.
Since MiningNetwork was only recently released, the BTK token is yet to hit exchanges. The best option, for now, is to continue farming shares and upgrade your free ASIC.
Those looking to increase the number of ASICs on their account can purchase YOLASICs on the official AtomicHub marketplace for a current price of 5.02 WAX ($0.65).
Keep in mind that if you attempt to game the system by creating multiple accounts against TOS, the team will disable your option of selling your mining SHARES for BTK tokens, which will render your account useless.
The villains have been Punished and their accounts/wallets has been banned from the game for 30 days. Also, they will not be able to exchange their shares for tokens (BTK).
— Mining Network (@MiningNetwork_1) June 3, 2022
The latest update for the game added on June 3rd introduced the MULTIGRADE function for your ASICs. This means users can upgrade their ASICs much faster with their shares, with a single button click.
The maximum level of each ASIC is 100, so once your common ASIC reaches the full level, you could purchase a new ASIC and upgrade that. Only Common ASICs are available on the WAX marketplace, but as the game was released recently, additional rare ASICs will come soon.
MiningNetwork is highly addicting as you earn SHARES extremely fast and can start upgrading your ASICs right away. Users can start generating a passive income via the game with a few clicks of a button, and it comes as no surprise that MiningNetwork is blowing up when it comes to the number of transactions and users it has received in the past seven days.
We recommend keeping a close eye on the game in June 2022 and, at the very least, creating a free account and testing the system out. The website and UI design are unique and nostalgic, bringing you back to the early 90s to the days of Windows 98.
As more ASICs release, there will be more opportunities to increase your hashrate significantly, and as the BTK token hits exchanges, users will be able to cash out their earnings.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.
By Mark Arguinbaev