CryptoMines Eternal Review: Legit or Scam

I’ll be reviewing two tokens today. CryptoMines Eternal and Ever rise. These reviews were requested from the Alpha crypto wolf community. Shout out to you all. As you already know, this particular review is for CryptoMines Eternal. Honestly, I never knew about CryptoMines Eternal token until someone called my attention to it. This token shockingly was priced at $700 few weeks ago. Now, it is struggling with a $3.5 price in this bearish market.

If you are an investor just getting to know CrytoMines Eternal like me, curious, or maybe you are already an investor (this category of readers are usually very sensitive, try to read the review with an open mind). This article was put together with you in mind.

But before I begin writing this CryptoMines Eternal review, you and I need to establish an understanding.

“I’m not a banker or a financial expert, I don’t even consider myself a crypto “expert” (whatever that means). I will not be held responsible for your financial decision. Crypto investments, especially meme coin investments are high-risk, high-reward ventures. This article is just a guide, consider it a form of entertainment.”

With that understood, let’s get into the meat of this meal.

CryptoMines Eternal Website

CryptoMines Eternal’s website is, in my opinion, the “straightest to the point website in the whole of the crypto-verse. I like the website, it’s simple and it makes my work of reviewing it easy. It is SSL secure. For those who do not know what SSL security is. SSL stands for Secure Sockets Layer. SSL’s function is simple. It keeps internet connections secure and prevents criminals from reading or modifying information transferred between two computers. I like the background video and music, it gives it an alive feeling.

The description begins with a short simple headline. “SCI-FI NFT GAME (PLAY TO EARN) ON BINANCE SMART CHAIN”

I think that’s easy to understand.

MineCrypto Eternal also made potential investors know that the game is live on the binance smart chain, which I think makes it completely convincing.  Here’s what the CryptoMines eternal developers explain the benefit of  ‘CryproMines Eternal’.

You can level Up your mine power and Go to the farthest planet. You can also collect the rarest NFT on the metaverse. You are allowed to Trade spaceships and workers on our marketplace. You can earn eternal tone and grow your guide.

I think the website did a good job with the headline and listing out the benefit. No further explanation was given. We also learn that the game was built in the unity ecosystem. Here’s a link to know more about unity games.


Ever heard of Rain Token?


CryptoMines Eternal’s White Paper

CryptoMines Eternal’s white paper comes in a webpage format.  This is where a more detailed explanation is given.  We will be examining these (claims) in this part of the review. The description begins with this

CryptoMines is a SciFi play-to-earn NFT game designed to provide the users with a fun experience by collecting Workers and Spaceships to travel through the universe searching for $ETERNAL, this mineral allows them to live another day and make some profits along the way” 

Like the Website, I think this is clear enough. $ETERNALS is the name of the currency of CryptoMines. The rest of the white focuses more on describing gameplay features and how players can earn play in the game. In as much I’d like to talk about it, this review is specifically for investors and traders of the token. Not game boys and girls. So, I’d quickly talk about the few things that are important to investors.

Tokenomics

The total possible supply of $ETERNAL is 5,000,000. The liquidity is claimed to be locked and the development fund will be vested at a rate of 25% return per month.
Now, if you don’t understand what vesting is here’s how it goes. Vesting is the process of locking and releasing tokens after a given time. Usually, vested tokens belong to team members, advisors, partners, others who contributed to the development of the project, but also investors who purchased tokens before they went on general sale. So, if you are not in these ‘demographies’, it is not your concern (I’m just joking ). Here are more details of how $ETERNAL was distributed. 

In my opinion, the distribution is rather complex economics. I however think that offering 20% to the public is rather unfair, considering the total supply. I find the design of CryptoMines rather too geared up towards pumping the $Eternal token than organically growing.

Market Cap and Liquidity Pool

CrytoMines Eternal’s liquidity pool is currently 15, 722, 426. For a token that was once worth $700 for 1 $ETERNAL about a month ago, this is a very low market Cap. And it sort of shows you there is a problem somewhere. I did a review of BNB Token. It is the same pattern. Most of these ‘play to earn’ on Binance smart chain work like Ponzi. They get overpriced quickly only for early investors to dump the token (exit) on new investors, who further dump it. It only rewarding for very early investors.

Liquidity Pool

Currently, CryptoMines Eternal’s liquidity pool is estimated to be $2,245,356. 64% of the liquidity is locked in Unicrypt. 23% is staked in Pancakeswap, 10.6% is in the deployed wallet. While the rest are unlocked. The Unicrypt liquidity lock time frame is in 11 months for 85% of the liquidity. It now very clear that the liquidity has been blown.

Developers Behind CryptoMines Eternal

Holders of CryptoMines Eternal are currently 166,357. This holding figure is massive. However, it is doesn’t reflect well on the market cap. Also, the top two holders of CryptoMines Eternal hold a combined 33% of the token. These whales can decide to further crash the price of this token, subjecting CryptoMines Eternal to price manipulation. This is not healthy.

CryptoMines Eternal has a doxed founder and owner and team. His name is Manual Toress. Here’s what was said about him on the white paper. 

“He’s the mastermind behind the project, started developing software from a young age, fueled by his love for gaming and passion for the latest technologies.” Here’s is his LinkedIn profile.

This dev was featured on bsc news sometime in October. I like the fact that this project has a doxxed owner. Many project owners sow seeds of doubt and complicate things by not doxxing. This is a plus for CryptoMines Eternal.

What investors are saying about CryptoMines Eternal

On YouTube, investors are wondering why the token crashed all of a sudden.

On coinisascam.com,

Here are the things the supposed investors said.

Conclusion

I do not think CryptoMines Eternal token was created to last. You can see that the creators only locked the liquidity for 11 months. The tokenomics was deliberately (or not) designed to make a few early the (developers and their friends and few ‘gem’ hunters) investors rich. It was essentially built to fail in a bear market. Reports are out that suggest investors can no longer liquidate their assets.

Also, the developers are apparently, asking for another chance to perform the same magic in a different project. These guys should be serving time in some prison in Siberia.

If you enjoyed this review, kindly air your opinion and maybe share it with your friends on social media. You can check out other reviews I have done. You might just find a gem. You never knew.

2 Comments

    • Hello Sun, thanks for the comment. I checked your website. I like it. Your project looks interesting too. Seems it hasn’t really taken off yet. I wish you good luck.

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