CryptoMines is an NFT game running on the Binance Smart Chain, in which players must travel around various planets to mine ETERNAL, the game’s cryptocurrency. Is it really a solid and profitable project?
Judging by the exponential price increase that ETERNAL has had, and the community’s confidence in the project, we could say that CryptoMines is a solid project like The Sandbox, with a very good economic strategy.
CryptoMines: minimum investment and ROI
To start playing CryptoMines you will need to invest around $40, to buy 1 ship, two workers, and save some BNB and ETERNAL, to pay fuel and commissions.
To make the first expedition, a minimum of 100 MP is required, which you can get by buying two workers that have 50 MP each. That expedition guarantees a daily return of 4$ which if we multiply it by 7 days, we would have a weekly return of 24$.
However, when subtracting commissions and expenses involved in paying for the contract and fuel, the weekly net profit would be about $8, which translates to a 5-week ROI.
It is worth mentioning that the higher the investment, the higher the profit and its payback time.
ETERNAL increased more than 77,000% in two months
ETERNAL has had an increase in its price of more than 77,000% in a couple of months, something that is applaudable and envied by any project in the ecosystem, and this has had to do directly with the confidence that the players have in the project.
Today, Saturday, November 27, the price of ETERNAL is $737, which is why the game has achieved a market capitalization of more than 3.7 billion dollars. However, it has a chart that would scare any trader, because of the exponential rise it has had.
Although, it should be noted that unlike other games, the CryptoMines currency is not rising artificially nor is it being manipulated by the developers, rather it has been thanks to their decisions that the project has not failed, and it doesn’t look like it will either.
CryptoMines has an Oracle to protect its economy
CryptoMines has an «Oracle» to keep the game’s economy stable, that is, no matter if the ETERNAL token increases or decreases in value, the characters, ships and accessories you want to buy within the game will always have a fixed price in dollars.
This helps to have a healthier economy that is not affected by big whales or people with a lot of capital buying high amounts of ETERNAL, something that has already happened with games like Plant vs Undead, which has had a brutal fall due to the manipulation of its currency.
Also, as long as the reward pool is not empty there is no problem, and currently the pool has 64.0632% of the tokens in control, which equals $1,361,247,027.54.
However, the reward pool would be affected if the token has a very sharp drop, as it would be gradually emptied to send the ETERNALs to the liquidity pool, with more tokens needing to be drawn to pay the required dollar amount.
This article is merely informative and does not constitute a purchase or investment recommendation. We invite readers to do their due diligence before investing in NFTs or cryptocurrencies, as most of them are highly volatile.
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