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The GMT token’s smart contract was launched in 2021 by GoMining. It is an international network of mining hotels that rents space for equipment and engages in BTC mining.
The company’s founders understand how difficult it is for an ordinary user to start mining cryptocurrency. Even large organisations cannot increase capacity with the increasing complexity of the Bitcoin network. GMT token allows everyone to earn rewards in BTC without any hassle.
What is GMT Token?
GMT mines Bitcoin on its equipment and distributes the reward among holders. Payments are conducted automatically via smart contracts, which have been audited by CertiK.
Major part of the funds from the token sale are used to increase the capacity of GMT. Once the new equipment is put into operation, the issuer allocates an additional batch of tokens. The native currency protocol contains mechanisms for fundamental growth and protection against inflation.
As the team commissions new equipment, they issue new tokens. The number of tokens issued is not proportional to the equipment capacity but is 20% fewer. That way, the team distributes the free power among all the tokens in circulation, ensuring that the power of each token grows, and so does the mining reward.
A Brief History of GMT
During the project’s existence, GMT increased the hash rate of the device park from 100,000 TH/s to 725,000 TH/s. In addition, it has expanded its presence geographically, having 9 data centres worldwide with the most energy-efficient (Antminer S19Pro) mining devices on board.
Although GMT is a young project, the team has already made significant progress and gained trust in the crypto sphere.
The company has accumulated a huge hash rate, which serves as security for the token.
In 2022, video cards and Asics became more affordable; however, the payback of farms is still high (12-18 months). Therefore, the GMT token has good prospects for growth, as it allows generating passive income here and now.
The ability to receive daily rewards from mining attracts investors. The GMT team is actively developing the project. GMT Whitepaper is published in 12 languages. The GMT token’s price, as well as mining reward, will likely grow in the future due to the efficient team’s work, popularisation of the project through all available channels, capacity building and BTC rate strengthening.
The Rise in Popularity of GMT
GMT is the 30th member of the Bitcoin Mining Council (BMC) along with well-known players in the field of Bitcoin mining such as Argo, BlockCap, Core Scientific, Hive, Hut8, Marathon Digitais Holdings, Riot, Galaxy Digital and twenty others.
The news was announced at the AIBC Summit on November 17 in Malta during a fireside chat between Michael Saylor, Founder, Chairman, and CEO of MicroStrategy, and Mike Costache, a blockchain investor, entrepreneur, and consultant.
GoMining aims to popularise digital currencies among regular users and make mining accessible to everyone. The company cooperates with celebrities and well-known bloggers. In November 2021, UFC champion Khabib Nurmagomedov became the GMT ambassador.
The project was reviewed by mainstream media outlets like Fxstreet, Entrepreneur, and tech-specialised outlets such as Tech Times.
Greedy Machines – Uniting NFTs and Mining is Possible
GMT Token is a project that makes it easier for anyone to engage in BTC mining. Recently, it launched its own NFT project, “The Greedy Machines”. The developers came up with a fundamentally new approach to creating an NFT collection and started an art project with a set of images of mining machines. That are not just pictures – each image is backed by computing power. The initial supply will consist of 1,000 unique collectible miners stored on the Ethereum blockchain.
GMT users can exchange GMT for NFT, an image supported by real computing power, meaning NFT owners will get mining rewards daily.
What is NFT Mining Farm?
Greedy Machines is a concept art game where participants build their virtual mining farms. As mentioned above, NFTs are backed by a certain amount of computing power which allows mining Bitcoin daily and receiving rewards. A user should attach the purchased NFTs to one’s account to start building a farm.
Farms include mining cells, mining shelves, immersion baths, containers, data centres, etc. Every user starts from a novice miner with one device and grows to the head of a mining empire, the owner of a mining power plant.
Greedy Machines also includes an attractive referral program. NFT holders invite their friends to the platform, and as a result, both participants and invited members receive promo codes for an extra reward in Bitcoin. In addition, equipment maintenance is also rewarded – the more the participant performs equipment maintenance, the more bonuses one receives.
Environmental Sustainability
The GMT Token project’s first priority is to provide sustainable energy. The project offers “green” miners to its users. Profit will go to organisations involved in spreading sustainable energy: like Global Giving and Everybody Solar.
One of the principles of NFT ownership is: the longer a user holds tokens, the more rewards one receives.
Final Thoughts
The Greedy Machines is a concept art game that builds a community of miners, facilitates BTC mining, and develops “green” energy. Those enjoying beautiful visual forms and artworks will definitely appreciate using the platform and GMT marketplace. The benefits users receive from the Greedy Machines collection include daily Bitcoin rewards for image ownership, unique images, and a part of the gaming infrastructure.
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