Why CryptMines Crashed ETERNAL DEAD Don't do these Mistakes

Why CryptoMines Crashed ? ETERNAL DEAD ? Don’t do these Mistakes While Playing NFT Games

CryptoMines is a space-themed browser-based Sci-Fi NFT play-to-earn game. Its foundation is similar to that of CryptoGodz, but it is less ambitious: it stops short of becoming a full-fledged game. As a result, unlike CryptoGodz, the Sci-Fi NFT web-based play-to-earn game will remain in the browser for the foreseeable future. The roadmap for the game does not suggest anything additional beyond this point. Nonetheless, CryptoMines offers a nice possibility for enterprising gamers to earn crypto coins in the NFT cosmos with just a few mouse clicks every day.

What exactly is CryptoMines? 

CryptoMines is a no-fee NFT game. The game, set in space, is evocative of ancient browser-based worker placement games like Travian, Dark Throne, and Ikariam. CryptoMines’ gameplay, like similar games, has a sluggish start with uninteresting parts. Fortunately, it shouldn’t be an issue for this game. The less labour you have to do to earn cryptocurrencies in play-to-earn games, the better. And CryptoMines requires so little of your attention that it may be considered passive revenue.

In CryptoMines, you play as a mining mogul in charge of a fleet of employees and ships. The acquisition process is the most time-consuming aspect of the game. Purchasing enough employees with sufficient Mining Power (MP) and Ships capable of transporting them to various planets requires a great deal of patience, thinking, and research. Each planet you may mine will have a certain MP need, which means you’ll need to go to the marketplace with a goal in mind. You’ll need to plan ahead of time for the quantity of ships you’ll need to purchase, as well as optimise your worker loadout. Remember to spend as little as possible and to hunt for high MP, low-cost equipment.

Mining in CryptoMines, like in CryptoGodz, entails clicking a button and rolling a die. When you’re ready to mine, you select one of your fleets and dispatch it to one of the game’s planets. The amount of Eternal, the game’s main cryptocurrency, that you may earn through the journey will be presented. The success rate of your team will also be highlighted. Your team’s performance is totally dependent on RNG, but if they do well, you receive the amount of Eternal shown. 

Future game upgrades will include a Guild System, which is a typical feature for MMOs, as well as PvP Fleet vs Fleet gaming.

Who is the mastermind behind CryptoMines? 

According to the game’s white paper, the development team is made up of a “small group of pals who are skilled in Blockchain, networking, programming, game creation, and the play-to-earn features of the current crypto market.” The company views CryptoMines as a chance to empower low-income countries through NFT gaming. 

Manuel Torres is the founder of CryptoMines. The game’s development team is made up of South American game developers and businesses, largely from Chile.

EVERYTHING LOOKS GREAT RIGHT NOW, BUT WHAT HAPPENED RECENTLY WITH CRYPTOMINES WILL SHOCK YOU:

The CryptoMines creators have chosen to end the current edition of the game, now named CryptoMines, on December 8, 2021. (Legacy). The developers want to release a new version, CryptoMines (Reborn), in the near future. Current players can still embark on expeditions to gain $ETERNAL until the supply runs out. They may then swap their best Fleet for discount tickets, which can be used for reduced minting in the next game. In launching CryptoMines (Reborn), the developers want to rebuild the game’s economy to safeguard it against exploits and token dumps, which occurred on the previous CryptoMines game and resulted in a large drop in $ETERNALS price at the conclusion of the game’s lifecycle.

But what happened with Cryptomines:

People have lost money and need answers, but they must be correct answers. There are other stories circulating, including allegations of a rug pull. There is yet no tangible evidence that the team behaved deliberately. This article will be updated as new information becomes available. Personally, I lost faith in this project, but I’m not going to accuse the team of malice because of the instability and potential for outside manipulation that is inherent in any blockchain initiatives, particularly the developing and experimental arena of blockchain gaming.

Why CryptMines Crashed  ETERNAL DEAD  Don't do these Mistakes

CryptoMines was a promising game that centred on mining planets for ETERNAL every 24 hours, with larger fleets producing more of the game’s coin. However, FUD (Fear, Uncertainty, Doubt) propagated across the community, destroying the token’s value totally. The main message was confusion over the quantity of tokens owned by the developers, but at this moment, lots of additional rumours have joined the narrative. 

At the time of writing, the price of ETERNAL is $4.90, a 99.4 percent decrease from the all-time high of $801.59 set only 13 days ago (all data per CoinMarketCap).

Several announcements were published via the project’s Discord, Twitter, and Medium accounts in an attempt to calm the anxieties and stabilise the price. According to a BSC News piece, the developers’ formal comments to the FUD centred on three points: 

The developers are the largest ETERNAL holders, but they guarantee not to sell in a way that would harm the community. 

Larger traders working together to decrease the price in order to acquire more when it is lower can have an influence on prices. 

The game’s smart contract has been audited several times, and there is no indication of exploitation. 

The preceding essay (and the reasons it addresses) was published on December 3rd, just before the project announced its closure.

The Development Team Proposes a Reworked and Self-Contained Game:

When I stumbled upon the team’s Medium article on Twitter, I was dismayed to read the subtitle “What happened to CyptoMines?” 

The post rehashed many of the topics that we had already discussed and that the community had heard for the previous week. However, this was the first time I saw an acknowledgement of a game design error that exacerbated the problem. The direct quotation is:

“In this way, we could see how it was a devastating fall as big as the massive growth of CryptoMines, where people’s confidence was completely eroded when the token’s price took a hit of that level, but the main problem is that NFTs have no additional cost or wear and tear, causing an over-population of these assets and thus reaching a point where some investors do not have the need to continue re-investing.” 

The development team is debating whether or not to release a new game. Whether the vote is granted or refused, the present version of CryptoMines will continue to function until the reward pool approaches 0 and payments can no longer be made. The major objective of the vote appears to be to evaluate support for a modified game.

There has been a lot of information released regarding the potential new game. Please see the announcement for more information, however some of the highlights include: 

  • Different minting costs and time constraints 
  • After the initial mint, minting will be replaced by a breeding mechanism. 
  • NFTs will have various characteristics in addition to mining power. 
  • Dark Matter (DM), a new cryptocurrency tied to USDT, will be utilised for all in-game transactions. 
  • To repair and sustain fleets, NFTs will need to be burnt. 
  • Token and in-game sales taxes will help support the project. 
  • The new project’s developer tokens will be locked for five years. 
  • There will be no pre-sale or private sale of tokens. 
  • More information about tokenomics may be found in the announcement.

CryptoMines will be shut down when the prize pool is no longer able to make rewards. The existing unlocked ETERNAL, as well as any new ETERNAL that becomes available, will be added to the prize pool. 

Players of the heritage game will be able to claim discount tickets based on their fleets and other player metrics if the proposed revamped game is approved.

What Can CryptoMines Teach the Play-to-Earn Industry? 

It remains to be seen whether or not CryptoMines will be altered. Community trust has never been lower, and they may vote against a new game. We may never see CryptoMines again, but the lessons learnt will live on:

  • Developers of pay-to-play applications must fully understand that malevolent actors will do all possible to exploit and abuse the game and its assets for profit. The larger realms of crypto and gaming are rife with attempts to profit from platforms and systems — blockchain gaming is no exception. 
  • To guarantee that there are no blind spots that might jeopardise the entire project, new economic models and game mechanics must be carefully evaluated in a simulated environment. Endlessly inflating NFTs is one of the claimed reasons for the project’s failure — something that could have been completely prevented with further testing. 
  • Every endeavour in which a player becomes involved must be properly investigated. It’s difficult to criticise anyone who lost value with this initiative in this scenario, but it’s worth remembering that you are ultimately accountable for what you invest.

CryptoMines is becoming a cautionary tale for developers, gamers, and investors. This is a fascinating industry, and people are consistently reporting fantastic earnings. However, blockchain gaming represents the one thing that cryptocurrency has been renowned for since its inception: instability. Never invest money you can’t afford to lose, and be prepared for ventures to fail.

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Written by
Sourav Suman
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Sourav Suman

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