July 25 2017

Ethereum & NEVERDIE Walkthrough Published by Browncoat Jayson

I saw this posted by Browncoat over in the Shroud of the Avatar forums and got permission to do a piece on it.

It’s a great article and I figured if I could get it out to those that don’t use the forums in the SotA community, as well as perhaps out past the SotA community, that would be great! The great individual he is, he said yes for the same reason. The more it’s helpful to the better!

So here it is in its fullness and if you are able, you may want to pop over to the forum thread and give him a thank you!
Walkthrough of Ethereum & NEVERDIE Block Chain Token Purchase | Shroud of the Avatar Forum

 

Since there is only a week left to purchase coins during the ICO, I went through the process and created this guide in order to help others who might be interested. However, first there are a few disclaimers:

1. I am not a financial advisor. If you are not comfortable transferring funds, or do not want to expose yourself to risk, I would not recommend you continue. Digital currency is not backed by the standard federal protection that banks and credit cards enjoy, so you will likely not have recourse if they are lost or stolen.

2. This is not a simple process. It involves setting up your own digital account, which may be too complicated for some. Again, if you are not comfortable with the concepts of block chain operation, cryptocurrency mining, and transfer of digital currency, I’d advise against continuing.

3. While not explicitly stated, there is a minimum amount you must convert to purchase the ICO. This amount is equal to 0.07 ETH (Ether, the currency of the Ethereum block chain) per coin type. The value of this flucuates, but is currently about $225 per 1 ETH, so this means you will need at around $16 worth of ETH (but you will need to convert more than that to cover charges for transactions and transfers). If you want both NeverDie Coins (NDC) and Teleport Tokens (TPT), you will need to convert around $40 to Ethereum.

If those have not scared you off, and are still wanting to continue, here is the steps for getting your own cryptocurrency. This guide assumes you have no cryptocurrency available; however, if you already have BitCoins (BTC), you should be able to use your existing wallet rather than signing up anew and can purchase Ether by converting BitCoin. If you are not interested, you can skip these steps and I’ll describe my impressions in the next section.

Walkthrough to Purchase NEVERDIE ICO

1. Download and install Chrome. Not only is it the only browser that you can use to get into the NEVERDIE wallet to make purchases, it allows you to install extensions to make monitoring your wallet easier.

2. Download and install an Ethereum Wallet client. NEVERDIE recommends using the MetaMaskParity, or Mist Browser wallets. I signed up for Parity, but they all function similarly. Parity also has a Chrome extension so I can see if Parity stops running for some reason.

The biggest issue I had was keeping it running. This is because Parity only installs to the C:\Users\ path and doesn’t want to be moved. I found a workaround, since my SSD is small enough that I kept running out of room with 30+ GB of bitchain info on it constantly being written. I didn’t want that anyway, so I moved it to my secondary SATA drive, and it worked fine.

3. The client should start automatically once it is installed (it runs in a command prompt window; don’t close it). Once it syncs, it will open a local site in your browser window where you can administer the application. If not, you can open it manually (https://127.0.0.1:8180/#/home for Parity).

4. Add an Account. Select an icon and enter a secure password. Note the long string (starting with 0x); this is your Ethereum wallet.

5. Purchase Ethereum. There are several places to do this, but I use (and recommend) CoinBase. You will either need to use a credit card, PayPal, or bank transfer to purchase Ethereum. Remember, you will need about $20 per coin type, minimum. Once you sign up at CoinBase and make a purchase, you will see another wallet string. You can click the button to the side of it to start a transfer; send it to your Ethereum wallet address. Note that this will invoke a transfer fee (variable depending on several factors, but not insignificant).

6. Once the Ethereum appears in your wallet (should take about 3 minutes), you can do to the NEVERDIE website. Click Wallet at the top to open the NEVERDIE Wallet; if all goes well you should see your icon and the Parity (or other wallet) logo at the bottom. If not, you will get a message that says No Account Found; verify that Parity is running and you can access it at the local site. You will get a short tour of the wallet before you can continue.

7. Click Get Neverdie Coins at the top. It will show you the amount of Ethereum you have at the top of the page. Enter much much ETH you want to use below the type of coin you want; minimum of 0.07 (~$16.00). Click “Get Neverdie Coin” or “Get Teleport Coin”, depending on which you want. Again, this will invoke a transfer fee in addition to the coin purchase amount. Repeat the process for the other coin type, if you want both. To get a nice round number of coins, bump up the ETH amount. For example, at 1 ETH = $224.93 USD (current), here are some numbers:

  • 65 NDC = 0.07221 ETH
  • 160 TPT = 0.07114 ETH

Last comes the waiting. My coins took around 20 hours to appear, but the Neverdie support says up to 48 hours is not uncommon. You can play around in the Neverdie Wallet, but until you have coins, there isn’t much to do.

My Experiences

So, I went through the process, and you can do it too. Now what?

Um… nothing?

Really, the NEVERDIE ICO is very early on. What it is designed to do is allow game companies to utilize the same currency across multiple games, which all have real world value. This means that NDC can be the “prestige” currency in different games. You can easily link these, transfer them between players, and then cash them out if you want. Sounds great, however its a little premature.

Why? Well, here is what I’ve found (which you can probably tell, based on the instructions above):

1. Its a pain to sign up and maintain your own wallet. Players won’t go through the effort.

2. Getting the money out of the bitchain and back into cash is expensive. Expect at least 3% charge to get money into Ethereum, and 6%+ to get it back out again.

3. It can take up to 48 hours to get new coins. Gamers are not that patient. See also, instant gratification.

4. The games available are… lacking? Only Neverdie’s own ROCKtropia game is currently available, with two more (AmeVRica and Asgard VR) in funding phases.

5. I think game makers, especially ones like Portalarium who already have a successful Add On Store, can easily “roll their own” method to allow players to move cash in/out of the game. This can already be done to some extent, but just one more step would make this 100% possible. I’ll quote myself from the other thread:

6. There are other successful digital currencies that I’d rather see explored that a complicated cryptocurrency. Put Gold CotOs up for purchase with Razer’s zGold, where players get credit toward buying Razer hardware. Amazon Coins are another option.

I’m glad to see Richard joining Neverdie Studios in exploring what this type of currency can do, and looking toward the future of gaming. However, I’m just not convinced that it is a mature enough field for gamers to jump into. Maybe some day, when our operating systems are virtualized and creating digital accounts is par for the course, but not today.

Hope this helps those who want to give it a shot. Let us know if your experiences are different than mine!

Do you have an article appropriate for this website that you would like me to publish? I would love to take a look! Just send that to stile@thecaverns.net


Posted by Sir Stile Teckel - Email Author
Please visist our store Caveloot.com

Also Please visit our Caveloot.com Collaborators and Friends
Tortoise and Hare CreationsGeeks CollaboratingEco Owl Press
Lori's LabratoryRelics by RildHearth of Britannia
Dark Realm Maps

Tags: , , , , , , , ,
© 2013-Current. The Caverns. All rights reserved. See "Legal" in the about section for more info.

Posted July 25, 2017 by Sir Stile Teckel in category Misc, People