Virtual Mining

Virtual mining applies to Asteroid NFTs with the purpose to extract the gases / materials / elements from the asteroid.

To avoid too much supply, we gamified the experience as in the real world where there is a cost and delay before the materials can be extracted. Like the real world, certain Elements will require more time and mining costs to extract.

The ability to buy or sell the elements will occur shortly after the sale of the Genesis NFTs. Also we plan to build a futures market that enables holders to bet and hedge on price changes of different elements.

We will detail the costs, process, and timelines to virtually mining in this section shortly. The technology for virtual mining (and virtual terraforming) will involve staking contracts, which will be released as part of our Layer 3 protocol in Phase 2.