The newest decentralized application (dApp) on the Ethereum network is EtherTanks. Following up on the explosive popularity of the CryptoKitties game, Ether Tanks has already surpassed it as the #1 contract on the network as measured by gas contract fees. In this game, users purchase a tank using the MetaMask wallet Chrome browser extension and they receive a portion of profit every time any user purchases that tank after them. Each tank also has individual stats such as base damage and attack speed that will become very important once the player-vs-player combat is opened in the coming weeks. There will also be a marketplace where users can resell their tanks to other players similar to the CryptoKitties marketplace.
Some are warning against purchasing the tanks as the system has some similarities with a ponzi system in which profits are made when the user base expands and without growth there can’t be profit. Eventually players that buy in late may find themselves losing money if they are buying the tanks as an investment. Hopefully the marketplace will add a new dynamic that allows users to recoup initial investment at worst.
To get started with MetaMask and EtherTanks:
- Open Chrome browser
- Install MetaMask wallet from chrome web store
- Set up a new wallet, keeping track of your password and backup seed words (very important to store these safely as they allow you or anyone to have access to the wallet even if you lose the password)
- Transfer Ethereum (ETH) from your exchange, wallet, Ledger, etc.
- Go to https://ethertanks.com and do your research. As the prices increases as players buy tanks, it is difficult to recommend tanks to buy. Popular ones include LT-1, MT-1, and Izida at this time.
- Click Get a Tank once you have decided.
- Review your transaction and submit it via MetaMask
- Once the transaction is confirmed by the network, your tank will appear in your hangar. Here you can see the profit each tank has made and cash out each one individually. I would recommend setting a very low gas price for cash outs.
- Because of concurrent transactions, the fees are slightly inflated. Once the transaction goes through, any overages will be shown in the in-game balance at the top of the screen. You can cash this out any time as well, this is separate from any tank profits.
This game is going to be huge in the coming weeks once the combat and marketplace open!
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