Ethereum is an open source, public blockchain which features the smart contract functionality. Over the year, Ethereum has grown to be one of the largest cryptocurrencies in the world, in fact as of writing this article it sits at #2 rankings based on a tremendous 130 billion market cap. Ethereum has plenty of use cases in decentralised applications (dApps) which include social media platforms such as Backfeed, marketplaces like FreeMyVunk, crowd funding platforms, and even virtual games such as cryptokitties. In fact, cryptokitties got so popular that is notoriously congested the Ethereum network back in December 2017, with the highest selling digital cat going for 246.9255 ETH which was $118,000 on that day. Today, that same ETH would be worth 328,633.13 USD, so be aware, these cute digital cats come at a hefty price.
24 hours ago, a new game was released, going by the name of Ethercraft.
Before you get confused, I’m going to explain to you, exactly what this game is and how you can play (and potentially make a lot of money!). Keep in mind that this game was just live 24 hours ago, and is still under heavy development, so a lot of features and UI are incomplete or completely not available.
Upon initial launch, the game will release 60 items to be bought, some which are free and others which will have to be purchased using Ethereum. As of right now, players are able to purchase as many items as they like, using Ethereum, and receive the items in their wallets. These items in the future will be able to be used to craft items according to various recipes and thus be able to build complex items. Now, what’s the point of holding these items? Well, there is a yet to be released, playable RPG video game that will come with it, you will then be able to use your inventory and crafted items, to equip your character and send him off to the dungeons and slay the enemies. Pretty cool, huh?
This game offers you numerous different items which you can buy and trade. There are loot crates, which act as chance items. Eventually, players can roll these crates and potentially receive a rare and valuable loot, depending on their luck. Once the crafting aspect of the game is released, players will be able to roll their loot crates and start getting their items.
If you’re checking the game while reading this article, you will see Gold being mentioned in the items. Gold Pieces (XGP) is an ERC20 token which will serve mainly two purposes. Firstly, it will be used as an intermediary for everything that involves an ETH Transfer, meaning that you will be able to buy and sell XGP using ETH. The money spent on buying items will be used as reserve so the contract will always be able to buy all available gold at any time.
The second reason Gold Pieces will be used, as described by the Ethercraft team, is for governance. To truly enable decentralistation, players holding Gold will have the ability to determine which new times, locations and features are added to the game, meaning you the player, will be in control. This is an amazing idea, as this sets the game apart from other centralised games which just happens to be running on a blockchain. As of right now, Ethercraft is only using ETH for item purchases, for simplicity, but the developers state that in further development, gold will replace ETH.
3 Different Types of Items
There are currently 3 different types of items that you can purchase currently. Each of them are different in some regard and some items also have in-game types and rarities which will come to light when the playable aspect of the game is released.
- Free Items – These items have no extra charge and you will only have to pay the transaction cost. This is usually less than $2, sometimes ever cheaper.
- Normal Items – These items are at fixed cost and you can buy as many of these as you want. Some of these items are classed as “Limited-run” meaning they will only be for sale for about 48 hours.
- Enchanted items – These are the rare items, and they are also your best bet at making money. See here:
So for everyone that buys this item after you, you will earn 0.0025 ETH, isn’t that cool? The prices of these items keep going up so if you buy some today, you will almost certainly make some money and hopefully use your items to battle it out in the dungeons.
So that is all for now, in further guides and videos, we’ll be explaining the game dynamics and review further developments.
If you are interested to get started, then please see the official guide here (we will also be creating our own very soon).
To get started, you will need to buy some Ethereum. Use this link to get free $10 worth of Ethereum from Coinbase.
For more information on Ethercraft, check the following links: