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GMT Launches “Greedy Machines” NFT Project Backed by Computing Power

NFT

tokenist.com 29 September 2022 13:56, UTC
  
Reading time: ~2 m

GMT recently unveiled an innovative NFT project “The Greedy Machines”. The new project features a collection of mining rig images backed by computing power, making it unique compared to most NFT collections.

Greedy Machines Allow Users to Compete for BTC Rewards

GoMining Token (GMT) announced the launch of a unique non-fungible token (NFT) collection dubbed “The Greedy Machines.” The collection aims to “present the idea of an NFT from a completely different angle by creating an NFT art project: a set of mining machine images backed by computing power,” according to GMT’s press release.

This innovative approach allows users to exchange their GMT tokens for NFTs, “in the form of a miner,” powered by computing power that allows users to win BTC rewards. According to the project’s whitepaper, the minimum amount of BTC for distribution is 0.00001 BTC while amounts smaller than that figure are accumulated until the minimum amount is reached.

“Each NFT of The Greedy Machines VOL_1 collection is initially configured with computing power for mining. The power of each NFT can grow as the team issues new collections and the NFT holder carries out game functions in their personal account.”

Greedy Machines_VOL1 whitepaper.

GMT says the primary goal of the Greedy Machines project is to bring the community together. To that end, the project allows NFT holders to invite their friends and receive additional Bitcoin rewards for each referral. Furthermore, the participants can receive further bonuses for maintaining the equipment and other activities.

What is the GMT Token?

The launch of the Greedy Machines comes more than a year after GoMining unveiled its native GMT token aiming to tackle crypto mining-related issues such as expensive mining equipment, as well as high power consumption and carbon emissions. To achieve that, the token is using real computing power and while it represents an asset, the supply capacity of each GMT allows users to mine BTC for an unlimited time.

Apart from saving users money and reducing power consumption, the GMT token also allows miners to generate profits. This is possible when GMT tokens rise in price, and each week the team unveils new capacities and issues additional tokens to meet these capacities.

The introduction of Greedy Machines comes amid a difficult period for the NFT market, which has seen a significant activity crunch lately. Tough market conditions have made it challenging for new NFT initiatives to succeed as investors steer clear of risk assets.


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