When I first mentioned FarmFarmer in my Play2Earn Report last Friday, it did spark some interest and I got several questions regarding the game. Since it's now possible to actually stake your NFTs bought in the game, it's high time to take a closer look at it and answer the ever important question - Is it worth your time? So let's get right into it!
At heart, FarmFarmer is a classical staking game. You buy NFTs from the site, you stake them for mining and every hour there's a chance corresponding to your mining power to mine some tokens, in this case called Farm. While the game itself is super simple and straight forward, there's more to it than you might think at first glance.
There are 8 different kinds of categories of NFTs that can be bought. Each comes with a different cost but also a corresponding mining power. As you can see above, three of the eight options are already sold out and can now only be acquired on the secondary market at a (seemingly) highly inflated price. Once all of these NFTs are sold, no new ones will be introduced to the game. The developer behind FarmFarmer (aggroed) already announced, that there are no immediate plans to iterate on the game.
Basically, FarmFarmer is a tech demo showcasing what future games could look like and testing some of the options available through Smart Contracts on Hive-Engine. That doesn't mean that the game is any less interesting because of that, though.
There are several other games based on Hive-Engine already in active development or at least in the planning stage. Each of these games is going to permanently accept Farm at a rate of 1 Farm = 1$. This will help to keep the value of the token and should also make any investment into FarmFarmer a long term one. Farm can already be traded on Hive-Engine as well and there already is some trading happening.
It does not stop there, though. FarmFarmer is not merely a staking game, it also has a social aspect which I think is rather interesting. The Farm token can be staked on Hive-Engine and will in turn generate another token called FarmGov. This token can then be burned in order to change the actual rules of the game. Since this part is not implemented yet, we don't know the specifics. aggroed already stated, though, that it will be used to alter the mining power of the different types of NFTs. So you could either increase the farming power of one of the NFTs you hold or you could decrease the power of one NFT you don't hold. Since your chance to mine Farm is dictated by your mining power compared to the total mining power, this will directly alter your chance to gain Farm.
We'll have to wait and see how this is going to turn out and how much of an effect it will actually have, but the idea itself sounds really great in my opinion. Since no single person will hold all the NFTs of any type, there could be alliances formed revolving around boosting a certain type of NFT or reducing the power of another one. Ideally, we'll see the formation of different groups or factions, each competing with each other but also teaming up should one NFT become too powerful.
This kind of constant struggle for supremacy should also help to bring up the value of both Farm and FarmGov, as a single party might try to buy up more FarmGov in order to boost their NFT short term or they might buy Farm for staking purposes so they earn more FarmGov long term.
The good thing is, though, you don't have to interact with the game much if you don't feel like it. I'm not really a social guy in the regard that I don't enjoy continuously working together with other people for a prolonged time if I don't really have to. Consequently, I probably won't join any faction and won't ever burn FarmGov to actually change the rules of the game. Instead, I'll try to just passively profit off of the fighting happening between the different groups.
By buying copies from all different NFTs, I should be able to earn long term, no matter what NFT(s) emerge victorious. As long as there are still NFTs available, I'll just buy up some more whenever I have some Hive lying around, which is basically almost every other day. I'll then just stake whatever I got, stake the Farm I earn and finally sell off the FarmGov I get from that. Because of the way the actual mining is handled, there's also no need to check back every day.
There are 4.5 FARM mined every hour that are delivered to 9 winners. Chance of winning is determined by your Mining Power / Total Mining Power.
There are 20 winners for $FARMGOV for 40 tokens daily. Chance of winning is determined by your Staked FARM / Total Staked Farm.
40k $FARM are up for grabs every year and Hive Engine games accept them at 1 $FARM = 1 USD
So basically, there often will be weeks where I don't win any Farm at all, so checking back just once a week (or even less) should suffice.
So let's get back to our initial question, shall we? Is it worth your time? I'd absolutely say so, yes! If you enjoy these kind of social interactions this should be really fun and it might be really entertaining to fully focus on one type of NFT and try to lower the power of all the other NFTs. But even if you are not that interested in any further interaction or if you are really just looking for some long term investment with your Hive, FarmFarmer might be just the right game/investment for you.
Hive-Engine is the place to be for any token on Hive and it's safe to say that unless Hive goes down for good, there's no way that Hive-Engine would shut its doors. With more games coming and Farm being accepted by all of them, this really might be a great investment to benefit from for years to come! While not all NFTs will hold their value over time, especially the ones that increase in power should also see a decent increase to their price. Because of that, you might be able to make a profit by selling your NFTs even some years from now.
And that's all from me today, thank you all for reading and commenting. See you all next time!
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More games, and using a competitive edge.., some ideas have come from dCity for sure. Rising Star could do with this 'competitive thing'.. to keep it interesting.
Interesting idea - maybe you could have different genres compete with each other for fans.
dCity is a game I sadly missed joining when it first was released and ever since I felt like now it's too late despite it still going strong...
It's not too late and the return is fantastic.. if you can stop yourself expanding your city, and reaping the SIM token in.
Thanks for the write up! The bigger question, whether to continue to invest in Collection Power on Splinterlands or to buy FarmFarmer cards.
Well, IMO a collection power of 500,000 should be the first goal as it will allow you to advance to Champion I which increased your earnings by a lot. After that, it's what ever you enjoy most I guess.
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STOPVery nice write up, I agree with the concluding remarks especially - I'm sure we should all be supporting this at some level - I mean the money raised goes to improving hive-engine!
So many of us are dependent on it, after all!
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Absolutely! It's a great way to say thank you to aggroed and the team... and still hopefully make a nice little profit on the side.