I decided to buy a few FarmFarmer cards - it's a super simple 'stake and forget' dynamic NFT yield farming game. You basically just buy some cards, stake them to yourself and you start mining FARM tokens, which you can in turn stake to mine Farmgov tokens.
The amounts each NFT will vary depending on how users interact with the cards and the tokens as the game/ mining develops. You can use FARM to 'increase' the power of some cards, thus slowing down others for example, and its anticipated people will team up form mining pools.
You'll be able to exchange FARM for $1 worth of other hive-engine game assets soon to be developed, or presumably other Hive-engine tokens, or Hive.
Details are available in this post.
NB I thought it only appropriate to invest a little something in this game, LEO is a Hive-engine token, lest we all forget, and funds spent on the game all go towards the further development of Hive-Engine, and let's face, it we were all VERY glad to rely on it after WLEO 1.0!
Here's my farm farmer Collection:
I paid just <$30 for this lot, and for that I get a crack at some of the 40 000 FARM tokens (mentioned in the post linked above) that will be issued in the first year, and they're issued on an hourly basis
Current and Anticipated Return
<$30 of tokens gives me 47.1 mining power and a 0.000148% percent chance of mining anything FARM, to be paid out every hour.
40 000 times 0.000148% = 5.92 farm a year, if it sells for $1, that's about an almost 20% return on the investment, which seems good to me!
That's my current return, unfortunately it's only going to go down from there as not all the miners are up and running yet, so this could easily go into single digits, in fact I expect it will, so it's something to keep an eye on.
The NFTs will also be tradable of course, and there's something else that may go up or down in value!
For all I know I've worked out the return wrong anyway, I'm quite good at doing that, but it was only a $30 investment, so not too much to worry about!
Final thoughts
This whole concept reminded me of the Thugs.fi project which @empodorat wrote about recently, except it's right here on Hive-engine, and given that the idea's got legs elsewhere it seems like a good idea to support a similar initiative on our mother-ship.
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I am very interested!! I just got setup on NFT showroom and also am slowly adding to my dcity. I've got to try this FarmFarmer! Is it comparable to the DeFi stuff going on with Ethereum?
I don't know enough to comment about the similarities with Ethereum, this just seemed like a bit of fun for not too much cash!
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I hadn't heard of this one. Will have a look.
!BEER
Update: Just bought a few cards. Some have sold out already. Will see what happens. There seems to be a chat facility on the site.
I think it's worth staking a few!
I just logged on to check I hadn't missed out on an affiliate link, but there is not such thing!
I did add you as a friend, on chat, but I can't see to type anything, that might be a new general Hive chat application?!?
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I've started a conversation with you there. There's a lack of information about the site. It doesn't even say who created it or link to Hive. I think we need prominent Hive branding on all the dapps so people realise it's all connected.
That would be a good idea - the branding!
It is still in Alpha!
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Got some NFTs myself, even got in before the discounted ones where gone.
I don't intend to interact with the game much but as you wrote yourself - it's a stake and forget so I'll just check back every now and then to see how it went.
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There's quite a history of getting a nice return on these type of things on Hive, so it seemed worth an investment.
My mining percent has gone up a lot overnight, probably just them tweaking things in the early stages.
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STOPHave you mined any tokens yet? I bought 14 with some DEC I had lying around. About $28 worth but so far I've only mined 1 token (2*0.5) and that was in the first couple of days. Nothing since.
Looking at your figures I'm not thinking I might have done well! 😂
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There was a phase I was getting a few every week I think - I have about 60 and 3 LEOMMs. Haven't checked for a while.
@dalz - can you find out how many LEO tokens has @revisesociology ever mined?
I'm sure just staking LEO is the best way to go, it's certainly what I prefer!
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