GoMining’s “Miner Wars” is taking the gaming world by storm, largely due to its exciting new welcome packs and clan leagues. Yet behind the gamified glitz and glamour, is this a true move towards increased crypto adoption, or something else… insidious? Or alternatively, is this a Trojan Horse ingeniously camouflaged to funnel Bitcoin deeper into the mainstream, particularly in communities such as the Malaysian Chinese? Or will it completely backfire and blow up in everyone’s faces?

Is Gaming Mining A Gateway Drug?

Let's be honest: Bitcoin mining is intimidating. Jargon, hardware, cost of electricity – it’s a very intimidating learning curve. Miner Wars, with its intuitive interface and clan-leagues-competitions married to intense Pilgrim-shaped competition, provides a great Ol’ West entry point. So it’s no surprise that the lure of earning Bitcoin as you play is extremely enticing. Welcome packs are another great way to get new players comfortable and oriented. With clan leagues comes a competitive environment, which can be both productive and toxic. Is it too easy?

GoMining says they want to "simplify Bitcoin mining and educate more crypto users." As the Content Marketing Manager Laila Effiong Mining operations come with a level of complexity users shouldn’t have to experience. A common sense goal, sure— but a treacherous reductionist fallacy. Are we really giving users the information they need, or just tempting them all with the siren song of easy money?

Think about it: you're committing computational power (terahashes) from your miner NFTs against other players. These NFTs, which represent a real-world share of GoMining’s Bitcoin mining infrastructure, are freely traded on marketplaces like Magic Eden. You can even level them up, enhancing them in exchange for improved rewards. Sounds a lot like…gambling, doesn't it? What do you do when the gravy train comes to an end, or Bitcoin collapses? Will these now-expert users really understand the advanced, nuanced, convoluted technology at play? Or will they be left holding the bag NFTs and sour grapes. All of which reminds one of the old adage, “Easy come, easy go.”

Environmental Cost Versus Digital Fun?

Mason Miner Wars ties the virtual gaming experience back to the underlying Bitcoin mining. GoMining operates 7.5 million terahashes of computational power within their data centers. That's a lot of energy. Though GoMining is an attempt at making Bitcoin mining more accessible and less complicated, it does not eradicate its environmental consequences.

We need to be brutally honest: Bitcoin mining consumes a lot of electricity. Even as we transition towards renewable energy, the carbon impact is still enormous. Is it ethical to gamify an activity that has a massive environmental impact? This concern is particularly justified when the intended audience will not grasp the broader meaning.

Consider the anxiety this could create. Picture that same player, blissfully earning tiny bits of Bitcoin, who has an epiphany that their digital amusement is fueling our planet’s warming. That’s an awful lot to ask someone who simply wants to play a game. The Malaysian Chinese community, especially the younger generation, are becoming more conscious of green issues. Perhaps most importantly, they place a strong emphasis on sustainability. Are we doing the opposite, trading away future sustainability for the lure of immediate celebrity?

Regulations Needed Before It's Too Late?

GoMining claims to have distributed more than 144 BTC (more than $13 million) in rewards since September. With more than 165,000 active players and users in 3.5 million countries, they have a robust and growing community. The GOMINING token is based on Ethereum. Though these numbers may seem great, they are cause for alarm.

The GameFi space is largely unregulated. What consumer protections are in place? Do they have sound KYC/AML processes in place to stop bad actors? What happens if GoMining goes bankrupt? Will players lose their investments? These are important questions, made more urgent as we think of rolling out this technology to new populations.

We’ve experienced the harsh effects of untethered financial offerings in the past. The 2008 financial crisis is just one strong example among many. It teaches us the perils that can occur when avarice replaces prudence, particularly when complicated and murky derivatives are involved. We would be paying for decades if we made those same mistakes this time with crypto.

This is why there’s a strong call for governments to intervene and introduce clear legal frameworks in relation to GameFi. This is not against innovation, but for the protection of consumers and the orderly and sustainable growth of the industry. We encourage Congress to pursue regulations that reward responsible gaming practices and new investments in renewable energy. Let’s make sure this ‘Trojan Horse’ doesn’t turn into a trojan horse for worker exploitation or environmental destruction. Without civil and ethical oversight, risks will far eclipse the benefits.

With innovative new gameplay mechanics Miner Wars could be the gateway to mainstream crypto adoption. Only if we move with care, openness, and a good dose of skepticism all around. Let’s work together to make sure this Trojan Horse brings us progress—not peril.