It was all been said and done already... CryptoMines no more!
But wait! It's not official yet. Devs are still waiting for the community's votes for the new game implementation.
You might be asking, "What am I talking about?!". Well here's a short story for you
The developers of CryptoMines are planning to forgot and abandon the current game and develop a new one, together with a new token to be use in the game. But currently, as I'm making this article, the community are still voting if they want the new game and new token to be implemented... And it looks like it will be.
But What Happened?
Let's talk about CryptoBlades first.
CryptoBlades game is not as profitable right now like how it was on June 2021. The game was giving out free 5 $SKILL tokens to every new users, and they didn't anticipate that their game will be one of the star projects in the Binance Smartchain ecosystem that made their token to surge from less than a dollar to more than $100. It was surely a 100x investment!
However, the way the game gives out reward was too much for the team to handle as they were giving out too much rewards than they have intended that made the game's reward pool smart contract depleted. And with that, they have decided to cut the rewards, implemented the oracle, then cut it once again for another 50%! And because of the FUDs that came out from it, the game was slowly dying and not enough investors and players are coming to refill the reward pool. And now CryptoBlades is still hiding in the shadow of new and successful Blockchain games waiting for its time to shine once again.
But how does this connects to CryptoMines?
There's really not that much of a comparison. CryptoMines game was all doing good, their community is all about positivity and they have a healthy reward pool for players. And the only thing that destroys the game?
PANIC SELLING!
Yes, there was a fud circulating in the community and whales or wallets holding huge amount of $ETERNALS are selling their holdings. As whales are selling, smaller investors are also panic selling that made CryptoMines' $ETERNAL price dropped from $800 to even below $50.
The team tried to stop the bleeding in price by buying back $ETERNALs and refill the rewards pool but it wasn't an enough action. The sell-off wasn't not stopping and continues. So team was already warned about the bleeding because if the bleeding keeps on continuing, the reward pool will instantly be depleted because of how the oracle system work;
Price goes up = less $Eternal but same dollar value.
Price goes down = more $Eternals but same dollar value.
If they still keep on holding the game, the reward pool will just go to zero(0) and the team will just lose money if they keep buying $ETERNALs and refilling the reward pool.
So the team has finally decided about something new.
At 5:00 AM, Philippines' Time on December 08, 2021, the team published a Medium article about their plan to distinguish the game and token, and create a new one that is even more sustainable.
The NFTs that players have in the current game will be convertible to tickets as a discount for minting NFTs in the new game.
The team didn't mentioned anything about the $ETERNAL token in the article and the community have concluded that the token is now useless, and another sell-off happened.
A price from $40 per $ETERNAL to $3 in just a few hours!
Now the CryptoMines' community are waiting for the game. It seems a good percentage of players of the game still trust the team and looking forward that the new game will much more successful than the other.
Final Say.
CryptoMines was indeed the successor of what CryptoBlades were seeking from the beginning. The surge in price and userbase of the game was a good move for an Oracle-driven game. It was all healthy and good. However, like I have also says to my articles, "The crypto market is very unpredictable". And the CryptoMines team wasn't ready for the panic selling and got no better response but to abandon the game and create a new one.
I am still hoping for the best of CryptoMines' success, and also for CryptoBlades. One day, they'll reach their success and will make blockchain gaming even more exciting.
Original Image from: Cryptoblades. CryptoMines.
END.
