BinaryX (BNX) was once a GameFi craze at its peak in late 2021, early 2022 when Binance Labs invested and it was listed on major exchanges like Binance, OKX…
In this AZCoin article, we’ll explore the nature of BinaryX.
What is BinaryX?
BinaryX is a combination of a fantasy role-playing game with DeFi (also known as GameFi) and an NFT marketplace built on the Binance Smart Chain.
BinaryX current projects include:
- CyberDragon game: A massively multiplayer online role-playing game (MMO RPG) with its own economy, featuring combat, hunting, and trading rare NFT items. Players will center around developing characters and discovering dragons, farming, and more.
- In-game guilds.
- NFT marketplace/auction for buying and selling in-game items.
- Liquidity mining feature (not yet released).
Key Features of BinaryX
BinaryX places a strong emphasis on empowering the community. This is evident in the establishment of BinaryX DAO to gradually transfer project governance to BNX token holders.
Here, users can vote on decisions related to game design, gameplay, and will be rewarded if their proposals receive the most votes. This directly impacts the visual and player experience.
The project acknowledges that the gaming industry is one where projects may need to change and evolve significantly to adapt or risk being phased out. Whether players find games interesting or not is the key factor determining the success or failure of any game.
Therefore, sharing game management rights with players for them to feel and make decisions about major changes in the game is perhaps the most accurate approach. Providing rewards also encourages their contribution to the game.
This is seen as a win-win relationship when the project meets the players’ needs and the players get to play while receiving additional values.
How BinaryX Works
With the rapid growth of GameFi and Metaverse, developers are facing numerous challenges in terms of technology, finance, and marketing.
BinaryX focuses on gamers, providing a comprehensive solution for GameFi, enabling players to invest, mine, and trade in one place. BinaryX develops new games and provides technical support, builds communities, markets, and fundraises for developers through its IGO platform.
BinaryX’s treasury stores revenue to operate and reward players, holders, and investors. In the traditional gaming industry, tools like Unreal Engine and Unity provide strong support for game development. BinaryX connects GameFi projects with tools and expands cross-chain capabilities through partnerships with layer 2 protocols and sidechains.
Development process of BinaryX
In addition to developing games, BinaryX collaborates with blockchain partners, investors, and stakeholders to explore new opportunities in GameFi. They strengthen strategic alliances and incorporate new technologies such as AI and VR to stay innovative.
By utilizing blockchain, BinaryX enables players to truly own assets through NFTs and DAO. All BinaryX games add utility to the BNX token and BinaryX NFTs.
Initial Game Offering (IGO) Launchpad
BinaryX offers a comprehensive solution for developing, launching, and growing blockchain games. They create a new gaming experience, encouraging users to earn rewards for cryptocurrency or NFTs.
BinaryX provides technical support, marketing resources, and funding for developers, building a vibrant community to boost the gaming economy.
BNX holders can use tokens to exchange for other tokens, receive NFT airdrops, and stake BNX to earn rewards from IGO projects.
They also participate in DAO voting to decide which games will be listed on the BinaryX platform and receive rewards for participating in the voting process.
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BinaryX Token Information
BinaryX utilizes the BNX governance token. Two additional tokens, GOLD and Crystal, will also be introduced.
Key Metrics
BNX
The BinaryX Network token has the following key attributes:
- Token Name: BinaryX Network Token
- Ticker: BNX
- Blockchain: Binance Smart Chain
- Token Standard: BEP-20
- Contract: 0x8c851d1a123ff703bd1f9dabe631b69902df5f97
- Token Type: Utility, Governance
GOLD
- Token Name: Gold Token
- Ticker: GOLD
- Blockchain: Binance Smart Chain
- Token Standard: BEP-20
- Contract: 0xb3a6381070B1a15169DEA646166EC0699fDAeA79
- Token Type: Utility
Crystal
- Token Name: Crystal
- Blockchain: Binance Smart Chain
- Token Standard: BEP-20
- Contract: 0x6AD7e691f1d2723523e70751f82052A8A2C47726
Token Allocation
BinaryX is currently developing its tokenomics and will provide more information as it becomes available.
Token Sale
BinaryX is committed to a fair launch, meaning no presales or IDOs. This ensures equal opportunities for investors.
BinaryX Network Token (BNX)
BNX was listed on Binance’s Innovation Zone on November 4, 2021.
Token Release Schedule
BinaryX has not released a token release schedule.
Token Use Case
BinaryX’s tokens will have the following use cases:
- BNX – Governance: BNX will be used to distribute governance of Cyber Dragon to the community and will help guide major changes in the project.
- BNX – Incentives & Holders: BNX holders will receive a portion of the protocol’s revenue and rewards in the form of BNX tokens will be distributed to contributors to the project.
- GOLD – In-game Main Tokens: GOLD will be the main token used in the Cyber Dragons game and will be used to reward players and as a means of payment within the game. GOLD can be used to upgrade equipment, hire players for a team, and can be traded on DEXs.
- Crystal – In-game Tokens: Crystal will be the currency used in the game and can be used to recycle weapons at certain events, such as dragon battles. Crystals can be earned through daily quests, by dismantling equipment, and can be traded on DEXs.
How to Earn and Hold BNX Tokens
BNX Token
You can acquire additional BNX tokens through the following methods:
- Purchase BNX on exchanges that support it, such as Binance, MEXC, and PancakeSwap.
- Hold BNX tokens to receive GOLD & Crystal tokens.
GOLD & Crystal Tokens
You can earn additional GOLD and Crystal tokens by completing daily quests in the game.
Conclusion
The above text provides information about the BinaryX project and the functions that this platform offers to the market. We warmly welcome your feedback and comments through the contact or comment section.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
