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In recent years, a plethora of play-to-earn NFT games have inundated the crypto industry. While they can come with promises of big earnings through gaming, P2E NFT games have a fundamental challenge: In-game NFTs face the possibility of depreciation in value, which effectively reduces your earnings — especially if you’d bought the NFT at a higher price at the game’s launch. This makes most P2E games unsustainable over the long run.
Neoxa avoids the typical P2E NFT game hype. Instead, it chooses to combine mining and gaming so you can earn cryptocurrency in a different way. Let’s explore this blockchain’s special features and the various ways you can mine its coin, NEOX.
Neoxa is a new blockchain that launched its mainnet on May 19, 2022. It employs both proof of work (PoW) and proof of gaming (PoG) consensus. Like the Ravencoin blockchain, Neoxa uses the KAWPOW mining algorithm, which favors GPU over ASIC, making it easy for gamers to mine.
The Neoxa network’s block time is 60 seconds. For each block mined, 5,000 NEOX tokens are released. Rewards are halved after every four years, similar to Bitcoin and Ravencoin’s protocols. In the first year, 85% of the rewards are given to PoW miners and 10% are given to PoG miners, with 5% allocated to the developer fund.
What’s unique about Neoxa is that instead of creating its own blockchain game from scratch, it’s paired with existing games that already have an abundance of players. This frees it from an ongoing criticism that many P2E game creators face — that they produce tedious games which seem more like a chore than actual entertainment.
NEOX is the native token of the Neoxa blockchain. You earn NEOX either through mining via the PoW algorithm, or as a reward for completing specific activities in popular video games such as Rust and Minecraft through proof of gaming (PoG).
As shown on the Neoxa price chart below, the current price of the Neoxa coin (as of Oct. 4, 2022) is hovering around $0.002, with a current market cap of over $2 million and a 24-hour trading volume of $352,553. Its max and total supply are set at 21 billion NEOX, with a circulating supply of approximately 981 million NEOX.
The highest price (ATH) ever recorded for NEOX was $0.025 on September 4, 2022, and its ATL was $0.0013 on August 24, 2022.
Since the coin is in its infancy, it's listed on only a few cryptocurrency exchanges. You can buy NEOX from XT.COM, Txbit and TradeOgre.
You can mine Neoxa Coin on Windows and Hive OS, and while playing Rust and NeoxaCraft. Before you can mine NEOX and earn rewards, you’ll need to create a wallet, which you can obtain from the Neoxa Downloads page. You need to install it and set it up after downloading.
Now that you have your wallet set up, let’s get to the three ways to mine NEOX.
To mine on Windows, you’ll need a mining pool and mining software, in addition to your wallet.
While you can do solo mining, it’s not an easy feat for beginners. Therefore, we recommend you start with pool mining. There are many Neoxa mining pools to choose from, with some pools offering both pool mining and solo mining options.
There are several NEOX miners you can download for the KawPoW algorithm that Neoxa uses, which is the same as Ravencoin’s. Thus, if you mine Ravencoin, you can use the same miners to mine Neoxa. For NVIDIA GPUs, T-Rex Miner or GMiner are the best to use. For AMD GPUs, go for TeamRedMiner or NBMiner.
Once you’ve chosen your mining pool and miner, it’s time to configure them.
You’ll first need to extract the miner after downloading it, since Windows will block the miner, and then add an exception to the firewall. Next, create a batch (.bat) file. Copy the command line given and save the file, making sure that the file extension is .bat. Finally, open the .bat file to start mining NEOX.
Mining NEOX on Hive OS is similar to mining with most other cryptocurrencies. Here are the steps for mining NEOX on Hive OS:
Here’s the feature that makes the Neoxa blockchain so unique. You can earn rewards simply by completing tasks while playing games. Completing these tasks is equal to mining on a proof-of-game blockchain.
First, log in to the game through the Neoxa game server, then add your wallet address. This way, your rewards will automatically be transferred to your wallet.
As of the time of writing this article (Oct. 4, 2022), you can only mine Neoxa on Rust and NeoxaCraft (Neoxa Proof of Game Minecraft) server. The developers will soon add various games, such as Grand Theft Auto, Fortnite and Roblox.
Some of the in-game events that can earn you NEOX in Rust include ore pickup, structure repair and wood pickup.
The Neoxa blockchain achieves two objectives at once by bringing together gaming communities and crypto miners, which is no small feat.
The potential use cases of the Neoxa token in the future are tantalizing, as it will offer significant revenue opportunities for investors, game developers and players.
The fact that NEOX got listed on multiple exchanges so quickly is also an encouraging factor that’s made experts bullish about its future.
CryptoNewsZ experts predict Neoxa to exceed $4.62 by 2025 — which is a big jump from its current price of $0.002.
Meanwhile, Price Prediction and DigitalCoinPrice both expect a much slower rise in NEOX price, sharing similar predictions that NEOX will only be worth around $0.01 in 2025.
These prognostications, however, are not financial advice. Always do DYOR to decide whether any investment is good choice for you, particularly with a project as new as Neoxa.
Neoxa effectively connects the gaming and crypto worlds, bridging the gap between these communities with innovative blockchain technology that leverages existing fun games — so that gamers can have fun while earning money.
With its potential and its quick gain in traction, we recommend keeping a close eye on Neoxa’s new game servers, updates and other features so you don’t miss a good investment window should it arise.