- BinaryX was the developer behind popular games like CyberDragon and CyberChess.
- The platform also offers an IGO launchpad for an easy transition of developers from Web2 to Web3.
Blockchain has touched many industries like finance, real estate, and even the gaming industry. With the popularity of Metaverse and NFTs, the traditional gaming industry met more realistic and decentralized play-to-earn games. The rising blockchain games based on GameFi provide ownership to the players of their in-game assets and purchases.
In the Web2 games, the features of upgrading your gears, purchasing elegant wearables for your avatars, or reaching a fancy platinum level were all just allures used by the game. They gave no real rights to the players. All their time, effort, and energy would go in vain if the game somehow disappears. However, this is not the case with blockchain games.
What Is BinaryX?
BinaryX served as a decentralized derivative trading platform after its launch. However, the rapidly evolving play-to-earn gaming and metaverse industries attracted its developers to them.
Now, BinaryX is an IGO and GameFi platform. It has launched many popular games on the Binance chain like CyberDragon, CyberArena, Project Matthew, and CyberChess. One of its most hyped projects, CyberLand is set to release in the future. Being a GameFi developer, BinaryX wants to launch fun games and have the potential to grow in the future.
Web2 game developers have support from various companies to put their jigsaw puzzles together. Unreal Engine and Unity provide strong creation tools to produce eye-catching visuals for the game. Cloud providers like AWS and Google Cloud can provide the necessary hardware for online games. Steam and Epic Games can arrange their publicity and a vast gaming community.
However, in addition to these, in the Web3 game development, comes the challenge of integrating with blockchain technology and planting the necessary GameFi features, which can be a hurdle for many developers.
As an Initial Game Offering (IGO) launchpad, BinaryX aims to provide technical support, marketing support, and a service platform to young developers, where services like an NFT marketplace, funding, investment, and community building will be provided. It will support third-party GameFi projects to overcome challenges and uplift the whole GameFi industry.
Main Features Of BinaryX
The main features of BinaryX that make it different from all the other platforms are mentioned below:
- BinaryX DAO
It is the first game that launched its Decentralised Autonomous Organization(DAO), giving the players the right to vote and make decisions on the future course of the game. The community governance mechanism enables all the BNX token holders to take part in airdrop ratios and submit proposals to enhance the ecosystem.
- GameFi Sidechain
The platform is investing heavily in developing side chains that are interoperable with the Binance mainnet chain. This sidechain will increase the TPS, reduce gas fees, and allow developers to execute more complex smart contracts. Other third-party projects can also deploy their games on this chain for initial testing of complex in-game functions.
- NFT Trading Platform
The platform will enable players to trade their in-game earned NFTs with other popular cryptocurrencies and earn profit. It already launched its CyberDragon trading market in Sept 2021.
How is Tokenomics Relevant to BinaryX?
BinaryX follows a multi-token model, where it supports three tokens namely BNX, Gold, and Crystal. BNX is the primary token on the platform which can be used and earned across all the games on the platform. This token can be used in governance, voting on important decisions. Some special game operations like creating heroes or buying rare equipment will also need BNX tokens.
Gold token is used within the game features like upgrading your hero, purchasing treasure chests, or dungeon tickets. Crystal token is used for purposes like equipment recasting in the game.
Final Thoughts
In the coming years, play-to-earn games will attract more gamers. To make a profit from this industry, it is necessary to make their transition as smooth as possible. Casual gamers, who have little or no knowledge regarding the crypto industry, form the largest community. To attract them, BinaryX promises to provide a minimalistic and simple interface as available for any other Web2 game.