Mining NFTs
Last updated
Last updated
The total 672 NFTs are divided into four “Equipment” types. Each of those further divided into one of four “Boost” levels. The heavier the Equipment the fewer there are. For example, the Pick & Shovels have 100 NFTs in each “Boost” level while the Excavators only have 4 NFTs in each “Boost” level. Likewise, the heavy equipment prices are higher than the light equipment.
The “Boost” level of each NFT is really what sets it apart as this is what sets the Pay Multiplier. The Pay Multiplier is set to 1x for Standard Pick & Shovel and goes up to 1.8x for Precision Control Excavators. However, this affects reward pay only as each NFT has the same chance to win. Therefore, it is entirely possible for a 1x Pick & Shovel to end up with a higher profit than a 1.8x Excavator. This is possible because the selected NFT is randomly chosen with a new seed each hour. The seed will be the Terra Classic Block hash for the last block before a winner is selected. This is a summary of the NFTs available:
The collection is on Miata at the following link: https://miata.io/creators/41/collection/122
Several simulation runs were conducted to test the end state of a year’s worth of NFT mining. This is an excerpt from the results of one of the runs:
The interesting thing to note here is that rewards were scattered across the entire NFT collection. No one “Equipment” category really has the upper hand merely because the NFT cost more. On the other hand, the pay multiplier can help recoup the cost of the NFT faster. However, just like in the rest of crypto – nothing is guaranteed. In the end, the NFT owners can enjoy some friendly competition (although just random winning) knowing that they have helped the LBUN Project move closer to its goal.
