CryptoMines’ Future is in the Community’s Hands

Developers propose a game restart as a response to strong fear, uncertainty and doubt (FUD) caused by the crash of $ETERNAL.

Cryptomines Game Reboot

The future of the play to earn Binance Smart Chain game, CryptoMines, lies with what the community decides to do. 

After achieving an all-time high price of $801.59 US Dollars on November 25$ETERNAL, the native currency of CryptoMines, took a nosedive and is currently at around $4.6 US Dollars. This drop has caused a lot of uncertainty within the community about the future of the game. The developers detailed on a Medium post on December 8 UTC proposed a re-launching of the game with added features to prevent this from happening again. 

“We propose to launch a game with different mechanics to mitigate external manipulation of the token, oracle directly at the time of the claim, a circulating economy that allows constant reinvestment and NFT’s that degrade over time allowing greater longevity to the project,” CryptoMines said in the Medium.

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The price decrease was attributed to $ETERNAL holders having no incentive to reinvest in the game. Investors holding huge amounts of the coin have the power to quickly dump their holdings once it reaches a certain point. This dump created a collective fear lead snowball effect that resulted in a drop as quick as the rise of $ETERNAL’s price.

What Happens Next for CryptoMines?

“The only way to ensure the long-term sustainability of CryptoMines is to do an entire rework, achieving an economy from 0 with degradable NFTs that need constant reinvestment in order to keep generating assets. This way, if an NFT is created it will not continue to cause negative effects on the economy months later,” the team continued saying.

The rework is a migration from the original CryptoMines game, now called CryptoMines (Legacy) to the new CryptoMines (Reborn). There will be no pre-sale of tokens, but original players of the game will be given discounted tickets to enter the CryptoMines (Reborn) metaverse. 

Minting will be made available for an initial three weeks before closure to give way to a breeding system of minting new NFTs. Fleet repair and maintenance will be the new burn system introduced to promote reinvestment in the game. Dark Matter will also be a new in-game currency that is said to have a 1:1 ratio to $USDT. A new 3-dimensional explorable world also awaits players in CryptoMines (Reborn)

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Though additional liquidity will be provided by the developers, all these new proposals are still subject to a vote by the community. The CryptoMines team made an effort to give everyone a clear picture of what happens to the original game as a result of this proposal.

“If this vote is approved, CryptoMines(Legacy) will continue to function normally until its reward pool reaches a critical state (reaching 0) where it is no longer possible to continue payments. If not approved, CryptoMines(Legacy) will continue to function normally until its reward pool reaches a critical state (reaching 0) where it is no longer possible to continue payments.“ 

The future of the CryptoMines metaverse now rests in the community’s hands.

Be sure to join the DeFi Direct Discord to participate in all the community discussions and events! Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto!

About CryptoMines

CryptoMines is an NFT play-to-earn game running on the Binance Smart Chain. It is themed on science fiction, where players go on expeditions to various planets to mine the currency of the metaverse – $ETERNAL. CryptoMines took part in the Binance Most Valuable Builder Program III and emerged as one of the stars for October.

Where to find CryptoMines:

Website | Whitepaper | Twitter | Medium | Telegram | Discord

Source : bsc.news

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