Learn everything you need to know about Mining Network with this ultimate guide by DappRada
Mining Network is an NFT play-to-earn mining game living on the WAX blockchain. Shortly after its launch, Mining Network ranked top 3 on the DappRadar ranking board, becoming one of the most played NFT games in the Wax ecosystem from May 12 to June 09.
The current bearish trend in the crypto industry may persist for some time. Perhaps, immersing oneself in games is a better way to numb the pain, especially when it brings players profit.
Content:
- What is Mining Network?
- How to start playing Mining Network?
- How does the play-to-earn mechanism work?
- How to boost mining power and gain more rewards?
- How to convert BTK?
- What are the latest updates from Mining Network?
What is Mining Network?
Mining Network is an NFT game on the Wax blockchain, a vibrant ecosystem for NFTs and games. The game was launched later in May and has witnessed a dramatic increase in user numbers, restoring over 800,000 unique wallets from mid-May to mid-June. The game is currently in the top 5 games on Wax, along with Alien Worlds, Farmers World, Wombat Dungeon Master, and PROSPECTORS.
A unique economic model
Mining Networks boasts a unique economic model. In the game, players must use mining equipment to obtain the game resource; that is, Shares. Later, players can convert Shares into the game’s native token. It is worth mentioning that the amount of extracted game resources is not equal to the issued number of tokens.
Shares will increase as the number of players increases. On the contrary, the issue of game tokens will decrease constantly. This design ensures that the token price keeps rising while avoiding the inflation of the game’s resources.
How to start playing Mining Network?
The gameplay of Mining Network is pretty simple and straightforward, but it can get quite addictive. In essence, Mining Network is a game that mimics the mining process of miner machines, in which users acquire ASIC to start mining the in-game rewards.
To those unfamiliar with crypto mining, ASIC stands for Application-specific integrated circuit miners. They are computers explicitly designed to mine cryptocurrency and are widely used for Bitcoin mining. In Mining Network’s case, they are ASIC NFTs.
The free-to-play mechanic of the game grants each user a free NFT to start playing and earning the rewards once after login. Since the game is on Wax, users need to sign in with their Wax wallets.
Get your Wax Wallet ready to log in to the game
For those who haven’t created a Wax wallet yet, the step-by-step video tutorial below will guide users through the procedure.
Most importantly, having a Wax wallet also allows users to explore a wide range of play-to-earn games on Wax, such as Alien Worlds, Farmers Worlds, and Blockchain Brawlers.
How does the play-to-earn mechanism work?
Now let’s take a closer look at the play-to-earn part. The primary goal of this game is to collect the rewards as much as possible. To start mining, players need at least one ASIC NFT and can simply use the free one dropped by Mining Network.
Next, users click on the “Stake” button, approve the transaction, and the mining will start right away. After a few minutes, players can see Shares distributed to their accounts. That simple? Yes!
Once players have earned a significant number of Shares, they can sell these shares for BITCAKE (BTK), Mining Network’s in-game tokens. Users can spend some BTKs on acquiring more ASICs from the in-game market or upgrading the ASICs to achieve a higher mining power.
BTK is already listed on Alcor Exchange, which means users can sell them for WAX.
How to boost mining power and gain more rewards
To earn a larger amount of Share, players need to upgrade ASICs’ level and thus the mining power. How to do so? Users can spend some BTKs on upgrading their ASICs to achieve a higher level of mining power. Additionally, by buying more ASICs directly from Wax’s NFT marketplace, AtomicHub can also gain mining power. This approach aims to expand the mining scale.
How to convert BTK
To convert Shares into BTKs, users need to click on the “Exchange” button in the upper left corner of the interface. Users will see “Sell SH” and “Buy SH”. After converting SH to BTK successfully, users can sell BTK on Alcor Exchange for WAX.
Latest updates from Mining Network
After the initial frenzy of Mining Network, the team has continued adding new elements to the game to enrich its playability.
Hacker Assistance NFTs were added as mining booster
HACKER Assistance NFTs are tools that give the player temporary benefits. They help boost the mining rate for a certain period and reduce update time and cost. There are two types of such NFTs. “Exploit” can be used only once, and “Scripts” can be used unlimited times within a certain period. Users can find them on AtomicHub.
Crypto Bank was introduced for fund distribution
Cryptobank is a tool for the community to raise and distribute
funds. After the launch, the team will use the received funds in various ways to enhance the sustainability of the ecosystem. These include increasing the liquidity of BTK and buying back in-game assets from the market to conduct airdrops to the community.
Final thoughts
Mining Network’s rapid rise in popularity is probably due to its free-to-play mechanic, which allows everyone to start earning at almost zero cost. Moreover, the easy-to-understand gameplay primarily lowers the entry barrier for users, potentially allowing the game to expand to a broader audience.
DappRadar will continue monitoring the latest developments of Mining Network, Wax, and the play-to-earn field. Follow us on Twitter, Discord, and Youtube to keep up with the dynamic blockchain world.
Find more about Wax:
Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.
