BinaryX: How to transition from a GameFi issuer to becoming a Web3 hub.

For teams that have already achieved success in game development and operation, the simplest path forward is to continuously release new games. However, for those with a longer-term vision and higher aspirations, they may choose to expand their reach by developing game engines and exploring the upstream and downstream of the industry.

In the encryption industry, there are also projects that are taking a similar but more challenging path. As a project recognized for its achievements on the BNB Chain, BinaryX is now preparing to use its expertise, consulting services, user group distribution, and other resources and services to help game studios release games. In addition, on this basis, BinaryX Treasury will be established to coordinate the use of funds for the entire ecosystem.

From the roadmap and strategic planning perspective, BinaryX is clearly more than just that. The GameFi full industry chain layout is only a mid-term goal, and BinaryX's ultimate goal is to become the Web3 hub.

BinaryX lays the foundation for GameFi's entire industry chain

BinaryX was founded in early 2021. At the beginning, BinaryX aimed to create decentralized derivative contracts on the BNB Chain and ETH network, allowing users to trade binary options more conveniently.

Later, with the decline of the DeFi craze and the rise of the metaverse and gaming, BinaryX adjusted its development direction and focused on the metaverse gaming industry.

After starting the transformation, BinaryX launched its first MMO RPG game, Cyber Dragon Dungeon, in less than two months. This is a GameFi that integrates P2E gameplay and NFT derivatives of props. From today's perspective, Cyber Dragon is quite ordinary, but in the initial stage of P2E's popularity, Cyber Dragon can be regarded as a boutique game.

After the launch of the first game, BinaryX did not stop there and subsequently released CyberArena with experimental features and Auto Battler P2E. After the release of CyberArena, the number of Monthly Active Wallets (MAW) interacting with BinaryX reached 50,000.

Later on, BinaryX also released the auto chess game CyberChess and the Play-to-own MMO game CyberLand.

With the support of multiple games, BinaryX has now become the 8th largest project in terms of holding addresses on the BNB Chain and the 4th largest metaverse project in terms of trading volume.

除了游戏研究和发行之外，BinaryX 在周边相关领域也进行积极探索。

In addition to game research and publishing, BinaryX is also actively exploring peripheral related fields.

BinaryX announced in December 2021 that it will gradually migrate towards DAO in the game, giving community members the right to propose, vote, and make decisions on game design. Based on the community members' personal holdings, holding time, contract interactions, and other behavioral metrics, they can quantify voting weights and initiate proposals and votes on in-game token economics, development roadmap, and more.

In addition, BinaryX will also create a GameFi sidechain that communicates bidirectionally with the BNB Chain mainnet. By redesigning the contract data structure and business logic for GameFi projects, more complex contracts and game functions can be implemented.

IGO Platform, BinaryX experience monetization product

When a team is capable of producing multiple popular games and can launch a game-specific sidechain from the underlying infrastructure, launching a game distribution platform is clearly a seamless task.

The main users of the IGO platform can be divided into two categories: game development and operation operators, and players who want to participate in games early. For traditional IGO platforms, the help that can be provided to game development and operation operators is mainly limited to financing and publicity, and players generally need to hold IGO platform tokens to participate in IGO.

Due to the lack of experience in successfully operating games and a large amount of data on senior game player profiles on traditional IGO platforms, games that go through these platforms for IGO often result in resource mismatches, making it difficult to attract deep users and high net worth users to participate.

However, BinaryX is different. Its previously launched popular games have laid the foundation for the upcoming IGO platform. BinaryX understands the entire process and pace of game operation, and also has a large amount of data from first-line players, which is beneficial for planning the development path of the game before IGO. The potential competitive advantage of IGO on BinaryX compared to other platforms comes from BinaryX's past experience, which is beneficial for game publishers and distributors.

In addition, BinaryX has advantages that traditional IGOs do not have. BinaryX can provide technical support for game development, including sidechains, metaverse engines, and smart contracts. At the same time, in terms of game operation, BinaryX can provide tokenomics advice to help the game's sustainable development. In terms of marketing and promotion, BinaryX is also not inferior to other platforms. BinaryX has over 140,000 users on social media in the entire crypto community.

BinaryX's IGO platform may adopt the DAO mechanism in the future, and BNX holders have the right to choose whether the game will be launched on the BinaryX platform. Platform community members who participate in the vote will receive additional rewards.

In addition, the project team and community have jointly established the LP fund and set up the "BinaryX Cyber Incubation Fund". The fund is mainly used to invest in promising projects and Web3 development teams, providing support not limited to finance and technology. The Cyber Incubation Fund was established because of the community, and the profits obtained will also be returned to the community. The subsequent profits will be used to repurchase $BNX, community airdrops, volunteer incentive plans, injection into the dividend pool, and other ways to support the BinaryX community.

Final goal, Web3 hub

After completing the construction of the IGO platform, BinaryX will establish the BinaryX Treasury. All income generated within the BinaryX ecosystem, including sidechain revenue, IGO platform revenue, and external strategic investment revenue, will flow into the BinaryX Treasury. The ownership of the BinaryX Treasury belongs to BinaryX DAO, and in the short term, the BinaryX team will manage it on behalf of the DAO.

BinaryX's expenditures are mainly used for pledging user establishment, sidechain node incentives, and strategic investments. Among them, strategic investment will become the focus of BinaryX's next stage of work. It is reported that BinaryX focuses on expanding the usage scenarios of BNX and NFT assets when making strategic investments.

After completing the construction of BinaryX Treasury, BinaryX will establish an initial ecological cycle based on self-developed games, IGO platform, and BinaryX Treasury.

BinaryX initial ecological cycle, source: BinaryX

From the current roadmap and planning, BinaryX has basically completed the comprehensive layout of the GameFi industry. At the bottom layer, there is an NFT trading platform and a high-speed sidechain designed specifically for GameFi. In terms of services, it provides fundraising platform IGO and traffic assistance. At the same time, in game publishing, there are multiple self-developed games in operation.

Of course, building a full GameFi industry chain platform is only BinaryX's short-term vision. BinaryX's ultimate goal is to become the hub of Web3. Today, BinaryX needs to achieve connectivity between each component, enabling them to integrate into the BinaryX ecosystem. Leveraging its vast data and experience, BinaryX aims to maximize the utility of each component.

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