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Phil Hall
Phil Hall
Feb 4, 2021
News

What is This Cometh DeFi Game?

What is this Cometh game, and what does it have to do with DeFi? They describe themselves as a 'DeFi powered game with yield generating NFT'.
What is This Cometh DeFi Game?

What is this Cometh game, and what does it have to do with DeFi? If you're checking the rankings on OpenSea regularly, you will definitely have noticed some newcomers in the list. Cometh is one of them. In the past week the project had more than 250 ETH in trading on the secondary market. That's more than 415 thousand dollars at the time of writing. What is Cometh and what type of features or gameplay can you expect?

Cometh is a space game, but above all it's gamified DeFi product. They describe themselves as a 'DeFi powered game with yield generating NFT'. Active players can mine MUST tokens using their spaceships, and a share of all NFT sales gets distributed as asteroids back into the game. That way Cometh really is a mix from a game and a DeFi product.

Two things you should know:

  • NFTs - An NFT is a digital asset, stored on the blockchain and therefore unique. Each NFT has value and the owner can trade it freely. More info here.
  • DeFi - stands for decentralized finance. Decentralized finance are products build on top of the blockchain that allow users to use services normally limited to the banking and investment world. Instead DeFi uses smart contracts on the blockchain, cutting costs by removing the middleman.

What do you do in Cometh?

No matter whether you look at Cometh from an investment or gaming perspective, the promise is quite cool. You control a spaceship, and you need to position it to mine tokens. Navigating the galaxy can be done by 'linking up' with other spaceships. When other players use your spaceship, you earn MUST.

The good thing about the game is that it runs entirely on a layer2 solution. So there won't be any crazy gas fees. The gaming element isn't live yet, but a first version will launch on February 8th. In addition they will launch a decentralized exchange, ComethSwap, that will take care of the exchanges of MUST tokens and the NFTs between Ethereum and the layer2.

How to earn Cometh spaceship NFTs?

The process of earning Cometh NFTs requires several actions on the Ethereum blockchain. Each of the steps below requires a transaction, and gas fees can go crazy. So be warned. Some of these steps will become cheaper and easier when ComethSwap is live.

  • First you need to swap ETH for MUST, the native token in the Cometh ecosystem. Do this on Uniswap.
  • When the transaction is done and confirmed, approve Cometh.io to use your MUST. Do this on the farming page on Cometh.io.
  • Then you need to stake your MUST holdings. Staking means that you lock your tokens away. This will earn you interest, paid in DUST. DUST can't be traded.
  • When you have enough DUST, you can use it to redeem and claim a spaceship NFT for Cometh.

Users who provide liquidity to the ETH-MUST pool on Uniswap and then stake their Uni-LPv2 tokens, also earn DUST. Again, this process requires multiple steps, therefore transactions, and can be quite costly. The developers mentioned plans for an NFT exclusive to liquidity providers.

Buy Cometh spaceships

Of course you don't need to go through the entire process of staking and liquidity providing to earn Cometh spaceships. There are plenty of users and players out there willing to sell their NFTs on the open market. The pricing ranges from 0.1 ETH all the way to dozens of ETH. That's because better ships gather more yield.

The Senator, and ship of which there are ten versions, is listed for 22 ETH ($36.577). However, the cheapest spaceship on the market right now is the Pathfinder. There are thousand versions of the ship, and it costs 0.096 ETH. Just to get started, that could be a good idea. Just one more ship worth noting. The Sunriser is currently on auction. The highest bid so far is 30.7 ETH ($51.000), and the auction will end on February 8th when the game will launch its first version.

Not all spaceships are on the market yet. Others can only be obtained through the MEME platform. However, you can find a list of all spaceships here.

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Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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