©Reuters. Meet Bitcoin (BTC) Mining with Play-to-Earn Games: A Review
With the widespread adoption of blockchain technology, the popularity of play-to-earn games that allow players to earn rewards of real-world value has increased. In addition to in-game rewards, some platforms also offer learning opportunities through games.
In 2022, mining continued to be hugely profitable. About $20 million worth of bitcoin is mined by bitcoin miners daily, totaling about $600 million a month. With bitcoin mining difficulty increasing by up to 9% per week, it’s likely that the number of miners trying to steal some of those funds is also steadily growing.
While crypto mining can be relatively easy if you have the right hardware, it still requires skills and extensive knowledge of blockchain technology. Playing the learning process could be a good place to start for someone looking to gain a better understanding of crypto mining.
To find out if our assumptions about games helping users learn about crypto mining are correct, we decided to take a look at a game that simulates crypto mining. Ultimately, we decided to take a look at RollerCoin. The game has 3 million active users and seems to be quite popular in the mining simulator genre.
The mining simulation
In RollerCoin, players have to deal with real-world problems such as: B. tracking cryptocurrency rates, calculating which coin is more profitable to mine, and charging mining machines, all skills that are crucial for dealing with real-world crypto mining activity.
The game design is based on three concepts. The first is “Network Power” which refers to the combined mining power of all players. Second, each player has their personal mining power. This personal mining power can be built up by playing mini-puzzle-like games, participating in seasonal events, and purchasing mining machines.
The third is the “Mining Block”. Each block has a fixed reward in crypto divided among all players based on their mining power. The more mining power players have, the larger their stake in a mining block will be.
Like all play-to-earn games, RollerCoin also has an in-game marketplace where players are encouraged to trade their mining machines to earn additional income or upgrade their mining rig. The internal game market uses an in-game coin called RLT. The coins are developed on the (ETH) blockchain and can be used for all in-game purchases.
At the moment, RollerCoin offers Bitcoin (BTC), Ethereum (ETH), DogeCoin (DOGE), (BNB), Polygon (MATIC) and recently added (SOL) for mining. Players can withdraw accumulated crypto funds or reinvest them into their mining setup to increase their future passive income.
How much income is realistic?
You can’t talk about play-to-earn games without looking at their real world rewards. Mechanics of RollerCoin are based on mining power, so the main goal for players is to increase the number of mining power (hash power) of their facility to ensure more meaningful rewards.
There are two ways to increase the level of performance: one is buying miners and another is playing the games. However, there is a catch here. When purchasing a new miner, a player permanently adds electricity to their facility. Also, the miner works all the time even when the player is offline. That costs money.
On the other hand, players can add energy for free by playing games. However, this additional power is only functional for 24 hours. In order to keep the mining performance stable, players need to play daily to make up for the previous days’ drop in performance.
Estimated 1,000 PH (hash power) equals $0.3 per day in Rollercoin Earnings Calculator. In other words, if players maintain a constant mining output of 1000PH daily, they will earn $0.3 per day. Unfortunately, reaching 1000PH is more complicated than it first appears. It takes about 20 hours of gaming to reach 1000PH.
On the flip side
- Some experts believe that the current play-to-earn economic model is unsustainable and likely to fail. Some play-to-earn models rely on a steady stream of new players, akin to a pyramid scheme where the older players in the game earn based on how many newcomers they bring with them.
Why you should care
Play-to-earn gaming increased along with the development of blockchain technology. It is an integral part of the metaverse and the new digital economies that are evolving in the digital spaces.
Read more about play-to-earn games:
Top 10 play-to-earn projects to watch out for in 2022
Read more about Bitcoin (BTC) mining:
How long does it take to mine 1 bitcoin?
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