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Bondly x Binance Smart Chain Partnership

2020.12.21  •  6 min read
Blog post image.

The Tip of the Iceberg

Binance Smart Chain has teamed up with Bondly, an industry leader in the DeFi and NFT space, to bring you the greatest Christmas gift of all: self-sovereign art.

Bondly has been a pioneer in the digital assets and collectibles field, with their atomic, interoperable swap architecture and their signature product, BSwap, which allows users to perform cryptographically secured transactions of crypto-assets in an over-the-counter (OTC) manner.

While atomic swaps across blockchains of different native architectures have occurred, to-date they have not scaled similarly with the DeFi movement due to the highly technical and specialized knowledge required for seamless functionality. Furthermore, the current method of retaining atomicity between cryptocurrency pairs requires a very specific interoperability topology, one that is specific to each implementation and one that Bondly has mastered.

NFTs are here to stay

The concept of the digital product landscape has changed significantly with each passing year. Over the past ten years, digital product offerings have morphed from $0.99 song downloads to seven-figure social media accounts. All of which can be tokenized as an NFT thus allowing traceability and verifiable authenticity.

Today, the marketplace for digital goods is expanding exponentially. According to a study

published by Fiserv in September 2019, some 74% of online purchases are for digital goods

as opposed to physical. Statista estimates that the digital commerce segment, defined as all

consumer transactions made via the Internet relating to online shopping for products and

services, is valued at $2.92 trillion in 2020. This would mean that a staggering $2.16 trillion in estimated online purchases were for digital goods and services in 2020 alone. Furthermore, Statista estimates the digital commerce segment is projected to grow by 40.5% come 2024.

Despite this, the marketplace for buying and selling digital goods and services is highly

fragmented and operated exclusively by centralized monopolized intermediaries. Although some of these entities are trustworthy, others may not be. Bondly will provide the infrastructure and peace of mind required to trust the trustless and interact with the new digital economy.

What value will Bondly add to BSC?

A few months ago, Bondly launched the Bondly Collectible Card Game (BCCG). BCCG is a fully digital, NFT based, collectible card game that adds immense utility, educates about the Bondly product family, and incentivizes gamers to participate in the Bondly ecosystem.

This allows NFTs to be used as more than just art. By turning every card sold into a Fan Club membership, VIP Service, and Collectors Group at the same time, Bondly sets a new standard for community incentives.

What does this partnership entail?

Bondly will be bringing the BCCG to Binance Smart Chain, driving adoption of the NFT world and BSC’s NFT ecosystem. This partnership will allow BSC to connect with their community deeper through the development of the BSC NFT Ecosystem. Bondly will work with BSC to launch exclusive Christmas Edition NFT cards on BSC with unique utilities.

As a result, this will allow for an entirely new class of decentralized digital assets to be traded and held using BSC.

In return, BSCwill help Bondly integrate with their ecosystem partners like TrustWAllet, DeGo, and more. BSC will also provide marketing support and strategic advice as Bondly’s vision comes to fruition.

Both BSC and Bondly believe in the future of NFT and their ability to become a big driver for crypto-asset adoption. As demand for NFTs rises, Bondly believes there is a strong need for tools and assets to adopt this new technology, especially across chains. By partnering with BSC, Bondly believes the technological advances needed to reach adoption can happen quickly and smoothly. NFTs with utility are the future and Bondly is here to capture it.

What is it and how does it work?

In order to take part in the sale of NFTs, each user will need to create a BSC enabled Trust Wallet or Meta Mask Wallet. This can be done by adding the Binance Smart Chain network through following the steps below:

  1. Click the “Ethereum Mainnet” button

  1. Add Custom RPC
  1. Add Network Name - Binance Smart Chain
  2. Add Network RPC URL - https://bsc-dataseed.binance.org
  3. Add Chain ID - 56
  4. Add Symbol - BNB
  5. Add Block Explorer URL - https://bscscan.com
  6. Click save!

  1. Load up some BNB, send it to your BSC enabled wallet address and you’re ready to go!

Your Daily Dose

Day one of Bondly’s new venture will begin with a promo that gives you the chance to get a free Christmas Edition NFT.

Users will be required to hold at least 1 BNB in their BSC-enabled wallet of choice to be eligible, and each wallet is only eligible for one promo. A limited number of copies will be available, so please act quickly. Day one supporters will also find themselves as lucky participants in a lottery, standing the chance to win 100 Bondly tokens (BEP20).

For each subsequent day, Bondly will release a unique and ultra-rare Christmas edition BCCG NFT (BEP20) which will be available for purchase, each NFT will cost a flat rate of 10 BNB and only 2,000 copies of each card will be produced.

These unique NFTs will be released on a daily basis for a total of 3 days. On top of receiving what you pay for you will also receive a unique piece of rare NFT promo art every day for the duration of the 3 days and a guaranteed airdrop of 100 Bondly Tokens per NFT.

This activation will begin on the 21st of December and run until the 23rd of December. Bondly’s main objective with this rollout is to increase adoption of the NFT narrative, proving use case and value. However, funds raised from the sales will be used for the following reasons:

  1. Funding for Bswap BSC Code Security Audit
  2. Funding for deployment costs
  3. Market buying tokens to move onto BSC for use in airdrops
  4. Market buying tokens to burn

Bondly’s Role in the BSC Ecosystem

Through Bondly’s core products, users of digital marketplaces will have the choice to finalize transactions (imagine selling a website or social media page) using cryptocurrencies instead of traditional payment methods. This will allow users to save time and fees on transactions by avoiding the middle man.

These transactions will also introduce the users of these traditional marketplaces to cryptocurrencies, Bondly, and the Binance Smart Chain community. Bondly will become a leader in driving adoption for Bitcoin and other cryptocurrencies by powering a real-world use case. This will allow for buyers and sellers on these digital marketplaces to experience the value of blockchain first-hand.

Bondly’s goal is to have these buyers and sellers become adopters of cryptocurrencies and BSC community members. Bondly understands that the world of crypto can be confusing for people beginning to learn about it. With the BSC communities support, we believe we can help educate and inform new users of this technology and, in turn, welcome them to the world of crypto. Also, we will add a differentiated new method for trading crypto OTC, similar to Binance OTC Trading Portal.

In Conclusion

As the adoption of this technology advances, Binance Smart Chain and Bondly both believe that NFTs will be a leader in the decentralized finance world. The implementation of BSC NFTs is our first step to bring a proof of concept, a vision of how artists are compensated fairly for their world, into fruition.

Will you join us on this journey?

About Binance Smart Chain

Binance Smart Chain is a sovereign smart contract blockchain delivering Ethereum Virtual Machine (EVM) compatible programmability. Designed to run in parallel with Binance Chain, Binance Smart Chain retains the former’s fast execution times and low transaction fees while adding Smart Contracts functionality to support compatible dApps.

For more information on Binance Smart Chain, visit https://www.binance.org/#smartChain.

About Bondly

Bondly is an interoperable, transparent, and portable swap protocol designed to revolutionize traditional escrow methods and make everyone into their own digital marketplace. Our family of trust-enabling DeFi products are designed to be a part of everyday buying and selling activities, giving peace of mind for swap or online purchases. Our product BProtect is a DeFi enabled eCommerce gateway specializing in integrating into your favorite online marketplaces very simply and easily with no integration fees, just staking tokens.

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