The new mining industry in Venezuela?

1 year ago I wrote an article entitled â ???? Inexpensive digital mining is a solution for Venezuelansâ ???? in which he showed in a very pragmatic way that mining equipment maintenance was a solution that was widespread in Venezuelan homes due to the country’s economic troubles and the negative business impact that the coronavirus pandemic once brought about again they had to find a way to reinvent themselves to feed their home.

In the current year we’ve seen a new way of generating income in a way that is far from traditional. In this case I mean the so-called Crypto Games, NFT Games or more precisely: Axie Infinity.

While it is true that there are a large number of new games in this category, Axie Infinity is the Bitcoin from NFT Games. A project with more than 3 years of development time, but which has grown exponentially worldwide in the last 6 months, especially in countries with a need for emerging economies such as the Philippines and Venezuela.

The new mining industry in Venezuela?
The new mining industry in Venezuela?

The Axie Infinity dimensioning is such that it deserves a separate case study. since you now play everywhere with people of all ages and with different levels of instruction, or definitely hoping to play it.

Agriculture

the The reward for playing Axie Infinity (or any other NFT game) is completing daily tasks and winning battles between players. This process is called â ????Agricultureto????. The â ???? Farmâ ???? (Farm) is a very common term in the crypto world and describes various processes. For example, It is used in the DeFi platforms’ liquidity farms and also in the well-known cryptocurrency mining farms (Bitcoin, Litecoin, Ethereum, etc.).

So the term â ???? Farmâ ???? It is used to represent a process by which you make resources available to an ecosystem for a benefit. In traditional cryptocurrency mining, the resources are the machines themselves. If we talk about DeFi platforms, it would be the blocked capital for the farm’s liquidity. And finally, in the case of Axie Infinity, it is the investment of your Axies team, as well as the time and skill that you invest in the game, to receive this reward.

So why mining? Basically because it’s the same thing. Mortgage resources to get cryptocurrencies.

Back to the numbers!

Bitcoin mining machines

The cost of an Antminer S9 today ranges from $ 800 to $ 1,000. According to mine calculations, the daily profit is above that 6 USD daily, which translates into $ 180 per month. With this, under perfect conditions we would have a return on investment of around 5 months.

I repeat the same thing to all of my friends: â ???? Cryptocurrency mining is a complex activity that requires a lot of care and effortâ ????.

Whether you have a 100 machine operation or just one in your garage, you will need an additional investment of money and time to achieve adequate electrical and environmental conditions, to deal with the heat and noise they generate, a preventative one Carry out a maintenance plan at least once a month and make the necessary corrections if extractors and cards are damaged.

Axie infinity

Coincidentally, a standard Axie Infinity team consisting of the purchase of 3 Axies with enough synergy to go into battle will range between $ 800 and $ 1,200.

As of today, a player should earn no less than 75 SLP per day when completing the game’s daily missions, with 150 SLP per day being a general average. If the player is more experienced and gets more competitive teams, he can easily get the 200 SLP daily. With a larger investment in the number of Axies in the account, the game allows the number of games you can play to be multiplied by 2 or 3, with the ability to earn rewards for finding players who really want their lives Game dedicated and received between 600 and 800 SLP daily.

If we stick to an average of 150 SLP per day, they now represent approx. 10.5 USD, corresponding to 315 USD per month, with an investment return of 3 to 4 months.

As with machines, it’s not just about buying the equipment, you have to make an investment in it quite a bit of time to play – ???? every dayâ ???? so that these are fulfilled. Not only that, you have to spend a lot of time learning how to play, especially if you don’t have a track record. â ???? Player – ???? and especially in collectible strategy games such as Pokémon, Heartstone or Magic The Gathering

Pears or apples

There is a heated debate that we shouldn’t compare a game that many believe looks like a Ponzi scheme to getting the number 1 cryptocurrency in the world: Bitcoin. And we don’t really do it, of course the most robust and stable way to get Bitcoin is to get it, but not everyone is technically ready for it.

Gambling, on the other hand, is more accessible and is building a solid economy by leaps and bounds with the triad of currencies used in the ecosystem: SLP, AXS and ETH, in addition to a roadmap that includes new combat modes, incorporating the DEFI platform and the decentralized one Exchange. The most important thing at this point is that you are generating cryptocurrencies that can be exchanged for Bitcoin on some of the major exchanges in the world, such as FTX and Binance.

The fact is that there are some similar risks as the price of investment is in some way related to the return on investment (ROI), which is always settled in dollars. In many cases, Bitcoin mining machines have been bought and then the price of BTC goes down, increasing the ROI to 10 months, and also in exceptional cases where cheap machines are bought and then the price of Bitcoin goes up, creating an ROI of 1 month is achieved if the currency has never been changed. The same thing happens with an Axie Infinity team, the value of the coin can vary in such a way that the calculated return on investment increases or decreases. This type of risk is very common with all cryptocurrency investments.

Multiple options, a single ecosystem

We should not shut ourselves off from a single option, the great recommendation is to approach the crypto financial universe in all its glory and understand that it is a world that is growing day by day, covering the traditional models under which it is this time is was the turning point of the video game. We can diversify our investments and time, or just do the activity that interests us most. Because in the end it all translates into what we did today to add some satoshis to our legacy.

The views, thoughts, and opinions expressed herein belong solely to the author and do not necessarily reflect the views and opinions of Cointelegraph.

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