Rewards in Loot Arena
The Arena offers numerous benefits to participants, including the opportunity to win unique artworks, as well as rewards earned through completing artwork sets, collecting simple majorities, or bidding on NFTs in auctions. In this article, we will outline three of these rewards: Weekly Oven Rewards, Degrees, and Mystery Gifts.
Weekly Oven Rewards are distributed to miners every Sunday at 00:00 UTC. After each auction, all BUN spent are sent to a time-locked wallet called The Oven. The Oven then redistributes 10% of the weekly Oven distribution to miners based on their participation in the auctions, while the remaining 90% of the BUN are made available for resale. By participating in auctions, miners have the opportunity to earn a portion of these rewards.
Degrees are badges awarded to miners who collect simple majorities of NFTs in themed collections. For example, a miner who collects a simple majority of 3 out of 5 NFTs, 3 out of 4 NFTs, or 2 out of 3 NFTs in a themed collection will receive a degree badge. This badge reduces their mining ratio to a lower ratio, allowing them to mine Tickets with fewer BUN. For instance, a miner with a mining ratio of 34:1 (who bids 34 BUN to gain 1 Ticket) that wins a degree will reduce their ratio to 27:1 (they will now bid 27 BUN to gain 1 Ticket). By earning multiple degrees, miners can lower their mining ratio even further, all the way down to the lowest ratio of 13:1.
It is important to note that users will soon be able to win Degrees at Satoshi’s Lounge. As a result, all NFTs won in the Arena will be transferred to the Fund, and relisting NFTs for resale will now be carried out at The Fund. Members will soon be able to relist the same NFT with the same attributes for sale at Satoshi’s Lounge, and degrees can be earned in the same way as in the Arena.
Finally, a Mystery Gift is a badge awarded to miners who complete themed collections by winning all the NFTs in a set (winning 5 out of 5 NFTs, 4 out of 4 NFTs, or 3 out of 3 NTFs). The winner of this gift will receive the sixth card of the collectibles set, which is the rarest item. The winner will be contacted personally by the NeoWorlder team, and the rare card will be delivered to them. It is important to note that miners can win more than one Mystery Gift, but they must complete different themed sets to do so.
IMPORTANT NOTE
In conclusion, the Arena offers numerous rewards for participants, including Weekly Oven Rewards, Degrees, and Mystery Gifts. By participating in auctions and collecting themed NFT sets, miners can earn badges, lower their mining ratios, and even win rare collectibles. With the introduction of Degrees to Satoshi’s Lounge, users can continue to enjoy these rewards in new and exciting ways.
