The whitepaper outlines the component that would make up the BinaryX metaverse.
All-in on the Metaverse
BinaryX has consolidated its switch to a metaverse ecosystem. The platform just released a new whitepaper that outlines the framework of its metaverse.
BinaryX initially set out as a derivatives trading platform, but on July 28 last year, it announced its plan to go into GameFi. BinaryX’s tweet on March 31 finalized the remodeling of the platform to a metaverse:
“BinaryX New #whitepaper Release. Pivoting into a metaverse platform! Comment here your whitepaper related questions & suggestions. Top 10 best Q will be answered in Twitter Space AMA next week…” the tweet stated.
New GameFi Updates
As seen in the whitepaper, the new BinaryX GameFi framework has the following four key elements:
- IGO PLATFORM
BinaryX will have an Initial Games Offering (IGO) function comprising a launchpad and a launchpool, which will help new games grow their community and fast-track their development.
- GameFi NFT Trading Platform
The beta version of BinaryX’s first PlayToEarn role-playing game, the CyberDragon, was released in September 2021, together with a marketplace to trade the game’s items. BinaryX will expand its existing NFT marketplace to support the trade of third-party games and multiple NFT standards.
- Sidechain
BinaryX will set up a high-speed sidechain with features that will serve GameFi projects better than the current BNB Chain. The sidechain will enable users to quickly bridge assets to and from BNB Chain’s main network.
- Treasury
The ecosystem will have a treasury dedicated to BNX tokens. The treasury’s assets will come from initial capital from the BinaryX team and incomes from the sidechain, IGO, external investments, etc. The treasury’s assets will be used for ecosystem incentives and partnerships.
Read the whitepaper HERE for further details.
CyberDragon’s fast rise to becoming one of the top 3 games in the BNB Chain ecosystem may be an early sign that BinaryX has what it takes to excel in the metaverse-space. Now that it has pivoted to Metaverse, it is time for the team to go full blast on development and assert itself in a space full of credible competitors like Radio Caca, Decentral Games, MOBOX, and a host of others.
What is BinaryX
BinaryX was founded in the Spring of 2021 as a derivatives trading platform but has pivoted into a metaverse ecosystem. CyberDragon, BinaryX’s first GameFi attempt, was once among the top-3 games on BNB Chain.
BinaryX is a recipient of the Binance Most Valuable Builder Accelerator program and boasts the first game globally to launch a decentralized autonomous organization (DAO) where players have the power to vote and decide the future path and developments of the game.
Where to find BinaryX:
Source : bsc.news
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