Let’s give a warm welcome to BinaryX (BNX), the next featured dApp Star in our BNB Project Spotlight series. BNX is a GameFi development platform behind CyberDragon and CyberArena, and both games are developed on the BNB chain.
Sit back and take in our interview with the BNX team for more insight into their expansive ambitions.
IMPORTANT: Please note the following content does not constitute an endorsement or approval of any of the products or services of the project, organization, or individual.
Q.1 How Would You Describe BNX to a Gamer or Investor?
BNX is a GameFi development platform behind CyberDragon and CyberArena, and both games are developed on the BNB chain.
In July 2021, BNX developed CyberDragon, a fantasy on-chain game combining the elements of DeFi, NFTs, and the crypto economy in a gaming environment. Players can mine, battle dungeons, and fight in PvP tournaments in the CyberDragon game. We also introduced a DAO system for our BNX holders to vote on the game's development.
CyberArena, a free-to-play card battle game, is another new creation in our ecosystem. A deck of cards enables players to choose their starting lineup. Each card in the game has its attributes and powers, adding much variety to the gameplay. Players can only win a portion of the prize money if they place high enough on the leaderboard.
Q.2 Can you tell us more about BNX’s tokenomic model?
In order to get around the BNX ecosystem, a unique multi-token mechanism is employed. BNX is the governance token of the project, and it can only be minted when users participate in the game. Its applications range from NFT trading, voting on the DAO, participating in IGOs and other platform services.
$GOLD and $CRYSTAL are in-game coins users can spend to engage in many game elements. Among these elements, one can adventure through dungeons, hero advancements, treasure boxes, or upgrades to your character's weapons and armor.
The list of use cases continues to expand because the team is always thinking of new ways to add utility to our coins.
Q.3 There seems to be a lot going on, how does the entire BNX GameFi Ecosystem work?
Aside from games, BNX develops products in several dimensions: Users, Platforms, and the Ecosystem.
Our latest addition, CyberArena is a significant step forward for our ecosystem. CyberArena and other free-to-play games will become primary drivers of traffic.
Traffic to our ecosystem will drive revenue from other platform services, such as IGO and Game Development Platform, which will grow and sustain these prize pools for our free games.
Aside from the free-to-play aspect, we constantly strive to increase the utility of our tokens and NFTs holders. Features include using Cyber Series NFTs for more varied gameplay or faster replenishment of battle points (1 battle point is required for each battle) based on the number of BNX.
Q.4 Is there any latest news that could excite Gamers, Developers, and Investors?
Among the latest news from the project, we introduced NFTs. The collection consists of ten thousand NFT (or "Rh!noX”) with various designs. It is possible to utilize the Rh!noX avatar on many Gamefi and Defi applications on the BNB Chain in the future.
Rh!noX are connected to their holder's interactions, making them unique and one-of-a-kind. If you are a World of Warcraft fan, you’ll spot a similarity with “soulbound” in-game items.
Rh!noX token holders may look forward to many advantages and privileges. For starters, they will access new GameFI tokens and NFT on the BNB chain. Furthermore, they will have exclusive beta access to games and NFT whitelists, VIP access to DeFi projects, and unsecured credit loans.
An on-chain behavioral system grades Rh!noX Tokens. The BNB chain's users' behaviors help the system decide how many players can obtain these benefits. The dedicated website allows users to purchase these new NFTs. The Rh!noX sale officially opened on June 6th in a Fair Dutch Auction system and all 9000 pieces were sold out in 24 hours.
Q.5 What other products in BNX should users look forward to?
Judging from the current market and community feedback gives us space to build the ecosystem.
Aside from developing new games for our community, we seek to build up a suite of tools to support aspiring web3.0 game developers. The move is aligned with our goal of building the metaverse and further decentralizing GameFi. Some new products to look forward to:
- Genesis Gamer Club: Gaming Community
- IGO Platform: Incubate and launch new games
- GameFi’s Sidechain: To support game developers and more complex game contract functionalities.
- GameFi Asset Trading Platform: To help facilitate the exchange of game assets across the metaverse
- Genesis Metaverse Engine: Game Engine for developers and creators
- Metaverse Development Fund: Support the overall development of the Gamefi industry
Q.6 Can you tell us more about Genesis Gamer Club?
The Genesis Gamer Club is a gaming community tightly connected with its game development engine. We see this portal as a group of members in the gaming business.
Interestingly, the Club will involve all sorts of stakeholders. Players, developers, 3D modelers, artists, and smart contract developers will be welcome, and the game engine has all the required resources for these groups of people.
All our future metaverse projects will be based on this technology. There are several possible use cases:
- Gamers can meet up and discuss new game ideas.
- Talented designers and scriptwriters can join the Club to publish their works.
- Game developers can find value in this product too. For example, they can launch new projects through IGO and crowdfunding.
Gamer Club members will assist in generating and acquiring the target audience through this portal.
We will allow users to interact with the game development team in real-time, a rare occasion in the gaming world. Imagine a future where players provide recommendations and receive immediate feedback from developers. This scenario may be much closer now, thanks to the work.
Q.7 IGO Platform, how will that help BNX?
IGO and crowdfunding will allow projects to share games and future ideas with players worldwide. Regarding funding for the metaverse games, teams can raise money swiftly.
New games must get their first players, and our team wishes to smooth this part of the process too. Metaverse game information and investment possibilities will be available to players first.
Smart contracts will be the best way to encrypt the funds generated through the platform. Moreover, the project party can access the money in batches as specified in the project vesting schedule. Ultimately, all the investors who participated in the campaign will be able to supervise these funds.
Q.8 How will the side chain work?
GameFi features are incorporated into this component of the project's ecosystem. RAside chain will bring significant advantages to the project. regarding performance and gas fees
There will be many smart contract templates available on the project side. Developers and auditors will be allowed to tweak their smart contracts in exchange for benefits from the project's side.
Q.9 What do you have in mind in terms of GameFi Asset Trading Platform?
We strongly believe that the existing NFT trading market will benefit from the addition of this new trading platform. Various metaverse and game assets like NFTs and Tokens will be available for trading on this platform. AMM trading and other ways to trade will be part of the system.
The platform will be able to handle many major chains in the future (e.g., BNB Chain, Ethereum, etc.). Last but not least, a wide range of game assets will be available here.
Q.10 What possibilities will Genesis Metaverse Engine enable?
The Genesis Metaverse Engine is a gaming engine we are particularly proud of. The metaverse and GameFi development tools are incredibly developer-friendly, and we expect a minimal learning curve for anyone using this feature.
Developers don't need coding or 3D modeling abilities to create a game or a metaverse.
As a result, the bottleneck to game creation for developers will disappear once the tool is live. In this way, the ecosystem's most valuable resource will be the creativity of its community. The Genesis Engine can easily handle a solid and imaginative game design.
In addition, the engine's resources provide an extensive range of game assets and templates. You may create a metaverse for an online virtual event with a few clicks.
Q.11 How will the Metaverse Development Fund integrate the ecosystem?
We can say that the funds raised through this fund will help fund the metaverse and the GameFi business. BNX will award great gaming projects, game resource suppliers, and players with considerable benefits. This mechanism has the ultimate goal of creating engagement in the BNX community.
Q.12 Finally, how can the team reassure investors in the current crypto bear market?
Against the backdrop of a bearish market, BNX continued to hold up against high selling pressure. While we are proud of our growth in 2022, we are ever more confident about our overall direction given the support of our holders. Our strategy against any market is to build and diversify our platform offerings, and we believe that is the only way to develop robustness for our project.