BSC News

CryptoMines Looks Ahead to 2022, Calms $ETERNAL FUD

While making efforts to clear the doubts raised by its token's price crash, the GameFi platform hopes to restore confidence in its future.

Roadmap Update

The most-played game in the BSC GameFi ecosystem - CryptoMines, has rolled out its plans for the coming year. CryptoMines revealed that it will revise its roadmap for 2022, bringing in changes and new ideas which will define the platform's future.

"Hello Explorers! We bring news pertaining to the future of CryptoMines and how we envision the upcoming updates to the project", the play-to-earn platform stated in its December 2nd blog post.

Massive waves of fear, uncertainty, and doubt (FUD) hit the CryptoMines community after the value of the platform's native token collapsed. According to CoinMarketCap, the value of 1 $ETERNAL plunged from $801.59 on November 25 to $110 as of press time.

The gigantic crash of $ETERNAL sent shock waves throughout the community and raised questions about the credibility of the project and its developers.

Image
Source


What 2022 Will Bring

Some of the new things players would see on the platform in 2022 include:

  • Modified Economic Model

The developers had found it a bit tricky to finance development from its allocation of the native token without negatively affecting users' investments. To generate a secondary source of developer's fund:

  1. In-game transactions will have a BNB charge of $0.4.
  2. Gameplay on Planets 21 - 30 will attract a charge of $1 - $10 in succession.
  3. 20% of unlocked native $ETERNAL tokens held by developers will be relocked for six months. The rest will be redistributed to the game's reward pool.
  4. To cushion the effect of the new charges on low-capital players, players on planets 1 - 5 will have additional $ETERNAL rewards worth $0.4
  • New Planets

Three new planets with a different rewards mechanism than the existing 30 planets will be launched. 

  • LAND NFTs

CryptoMines will create a marketplace where it will auction LAND NFTs. Every expedition on these LANDs will require a license. Fees generated from the sale of licenses will be distributed to LAND owners. LANDs of higher rarity will receive a higher percentage from the license revenue.

  • P2P Exchange

The platform plans to set up a peer-to-peer exchange where players can securely trade among themselves.

Other details about the changes can be seen here.

Source

Dealing With the FUD

CryptoMines made some attempts to calm the fears of its community. On November 30th, the platform tweeted its defense:

  • Though the developers are the biggest holders of $ETERNAL, they won't sell in a manner that will negatively affect the community. 
  • The fall in price may be due to other large holders and traders who sold to take profit or find a lower price entry.
  • The platform's smart contracts have been audited multiple times, and no exploitation has occurred. 

The days ahead will prove if the defense given by the platform is convincing enough to its community. For sure, CryptoMines developers face an uphill task restoring the tattered confidence of its investors.

The unfolding scenario once again resounds the notorious feature of crypto: volatility. It is wise counsel to always do your own research (DYOR) about every project. And when investing, careful diversification rather than going all-in into one project may be safer in the long run.


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

How would you rate this article?

Related News