Razer Introduces Token-based Loyalty System & Their Own Cryptocurrency Mining Software
Razer Inc., a Singaporean global gaming hardware manufacturing company that almost all gamers in the world know by now, has recently revamped its loyalty system and virtual currencies, as well as introducing its own mining software called Razer Softminer.
Razer’s virtual credits, originally called Razer zGold and Razer zSilver will now be named Razer Gold and Silver. If a user purchases and spends Razer Gold, the user will obtain Razer Silver which can used to exchange for various items such as Razer products, discounts or vouchers.
The most surprising news, or rather said as confusing by many, is the launch of Razer Softminer. The software is a desktop mining app that utilises the graphic processing unit (GPU) power of the user to solve blockchain puzzles when it is idle, where mining of cryptocurrencies begins. Miners will then receive Silver for each token that they successfully mine.
The idea behind the launch is because it was said that gamers do not game all day long and there are huge amounts of time where their gaming rigs were not utilised. By running the mining software, gaming rigs would then be utilised to its maximum potential, earning passive income for their owners. However, it is discovered that the whole operation is essentially just confusing.
The main problem with the mining system is that it is not very worth doing at all. On its website, Razer advised users to run the mining software on devices that pack a GPU of at least an NVIDIA GeForce GTX 1050 or AMD Radeon RX 460, and further elaborated that users could potentially earn 500 Silver after a whole day of mining
However, the cheapest item in the Razer Silver catalogue, which is a $5 discount code to its store, costs 1,500 credits. This calculates to about only $0.07 of profit per hour and would just cost the user if electricity is taken into consideration. Moreover, the most expensive product in the catalogue, which is a keyboard that costs 280,000 Silver, is almost impossible to get since Silver expires after a year.
The software itself also raises questions as it does not show which kinds of cryptocurrencies are being mined or how much has been mined by the device. The mined cryptocurrency is also not handled by Razer itself, but its partnered platform called GammaNow.
Hopefully, Razer would take its users feedback after the announcement and revise the newly introduced mining system. Once Razer is able to come up with a detailed plan that is worthy and beneficial, there will surely be tons of praises for their innovation in the sector.