Razer has recently announced their new revenue scheme offering to give premium currency if you let it use your spare Graphics Processing Unit, GPU power for blockchain mining.
2018 has proved to be a rough year for the crypto mining platforms, but, not for Razer. In fact, the Singapore-based gaming hardware manufacturing company looks into utilizing their users’ spare GPU cycles in exchange for its virtual currency which the users can in turn use to purchase Razer gears.
As part of Razer’s efforts for rebranding its virtual currency and rewards system, the company has announced the return of its program called Paid to Play, as well as the launch of their new mining app, SoftMiner.
Razer has collaborated with GammaNow to introduce Razer’s application SoftMiner, a new blockchain-based application which is integrated directly into Razer’s software suite. Once installed, the new application will provide a way for Razer to monetize from the gamers using their platform, albeit indirectly.
The company is essentially asking its users to allow them to use their spare GPU to slowly mine crypto using the new application. In exchange, Razer will reward the users with digital goods depending on how many blocks you let them mine each day. Users can then use the digital currency rewards to purchase gift cards, apparel and Razer peripherals such as gaming keyboards and mouse.
In line with this update, Razer’s virtual currencies Razer zSilver and Razer zGold, will be known simply as Razer Silver and Razer Gold, going forward. Launched in early 2017, these virtual currencies have served as the company’s medium for gamers to earn rewards and at the same to use as payment for virtual goods.
So, How Does It Work?
Now, you might wonder how the entire process will work. Based on what Razer has written in their announcement page when the user’s computer is idle, their new SoftMiner desktop application will get into work. The app works silently in the background by utilizing your idle graphics processing unit’s power to solve complex computing challenges and to supplement their distributed network’s needs for the mining process. In order for the SoftMiner application to function smoothly, Razer recommends users to use a graphics card which is at least an AMD RX 460 or Nvidia GTX 1050. The SoftMiner application is now in beta for Windows 7, Windows 8, and Windows 10.
By sparing your GPU power for blockchain mining activities, you will in return be rewarded with Razer Silver. Razer Silver can be redeemed for a variety of rewards that ranges from in-game rewards to exclusive discounts on Razer products, merchandises, and more!
The amount of reward the user will receive will vary relatively depending on the amount of time the user has spared and the strength of their hardware or graphics card. Razer claims that users can potentially earn 500 Razer Silver or more a day. So, let’s say you’re aiming at Razer’s Huntsman Elite keyboard which will cost you 196,000 Razer Silver. That would mean that it’ll likely take you approximately 392 days to unlock your reward.