What Is Binemon?
Tech Deep Dives

What Is Binemon?

By Andrey Sergeenkov
1mo ago
4m

CoinMarketCap takes a deep dive into Binemon, a play-to-earn blockchain game that lets its players breed and battle pets to earn rewards.

What Is Binemon?

Table of Contents

The world of play-to-earn blockchain games has undergone significant growth in recent months. Numerous projects give players worldwide the option to make money by playing a videogame and taking control of their in-game assets. For example, Binemon is a virtual pet NFT game that offers RPG elements where players collect and trade eggs.
Players can collect rewards and pets in the game to train, fuse, or sell them using the built-in marketplace. In addition, claiming true ownership of video game items is possible through blockchain technology. It empowers players globally by introducing an effective money-earning mechanism. 
Similar to other play-to-earn blockchain games, players will need to make an upfront payment. It is necessary to acquire several monsters before jumping into battles. Acquiring these creatures is possible through the marketplace which runs on DRK tokens, one of the three native currencies in the Binemon metaverse.  

What Is Binemon (BIN)?

The holistic approach by the Binemon team is an example of how the video game industry can evolve. The time is now to let players experience the game properly by giving them rewards to be exchanged for money and introducing in-game item ownership. Play-to-earn games, like Binemon, create revenue opportunities worldwide, as anyone can join the game and participate without owning special software.
Binemon wants to redefine the play-to-earn concept by combining  gaming experience with income generation. Spreading the revenue among players will retention and the ultimate growth of the platform.
The game consists of five different continents for players to explore. There is a diverse PvE system - including a campaign, world bosses, and Ancient Tower - combined with a diverse PvP system. Players can go head-to-head in duels, the arena, tournaments, guild wars, and the battlefield. All modes provide rewards to players, which they can use to fuse the monsters or sell them in the marketplace. 

How Does Binemon Work?

Before players can interact with the Binemon universe, they need to acquire creatures that will fight for them. These creatures are divided into different races, ranks, and classes. Once a player has a team, they can then venture into the PvE game mode to begin collecting rewards and become stronger. One can play the game through an internet browser and mobile applications, available on both Android and iOS. 

Players will experience a wide range of unique battle stages to earn rewards. Those who prefer dueling other players can devise a viable strategy through creativity. Winning a duel awards players with Ambrosia - the main commodity of Binemon - Epic items, and PVP ranking. Higher-ranked players will benefit from exclusive perks from Binemon partners and sponsors. 

Throughout the game, players can earn eggs, characters, items, and land. They can trade all of these items as NFTs on the marketplace for DRK coins. Binemon's ecosystem consists of three tokens. BIN for governance, DRK for the marketplace, and AMB, representing Ambrosia. The value of 1 AMB will always be 35 DRK. Players can earn ABM through battles, which can be converted to DRK or sold on the marketplace for DRK. 

What Makes Binemon Unique?

The unique aspect of Binemon comes to light in how the creatures are created. Rarity and specific traits are crucial elements when creating one-of-a-kind monsters. Every Binemon has ten different body parts to increase the "pool" of possible attributes. Even if a new hatch is found or a fusion takes place, players can obtain rare body parts and stat bonuses. The rarest and strongest Binemon can help players progress throughout the PvE and PvP modes quicker and fetch a higher price on the marketplace. 
The PvP aspect of Binemon is rather vast. However, some of the features are still in development. The concept of guild wars and tournaments will pit competitive players against one another. Every PvP battle rewards DRK tokens and Ambrosia, which can be traded for epic items. The epic items will help players upgrade their characters and become stronger overall. Guild wars let players conquer lands through a concentrated group effort. Guilds also have Castles, which can grow and expand to recruit top-ranking players in the Binemon ecosystem. 

Housing plays a crucial role in the Binemon ecosystem. Once players pick a plot in Bineland, they can build their house. Houses offer numerous customization options  where they can be decorated with furniture or commercial ads. In addition, players can sell houses and spaces for other players to advertise whatever they desire. 

How Does Binemon Compare to My DeFi Pet?

As there are so many play-to-earn games on the market, it can be difficult to distinguish between different offerings. Although Binemon and My DeFi Pet may share some similarities, they also have distinct features and aspects that set them apart.
My DeFi Pet is one of the many monster-themed play-to-earn games, like Binemon. It has a utility token, dubbed DPET, which is used for trading and summoning eggs and breeding and evolving pets. DPET also gives access to special events or participation in governance.  Players will need to acquire DPET to purchase pets to play the game. It has a PvE and PvP game mode, like Binemon, although it uses seasons rather than different campaigns or world bosses. 

However, My DeFi Pet has no housing element, guild wars, castles, et cetera. Instead, Binemon's team aims to build a more encompassing ecosystem to draw in as many players as possible. Its three-token structure makes things a bit complicated for newcomers to figure everything out, though. Using one currency across the different game aspects would have been easier to comprehend, mainly since BIN is only used for governance purposes.  

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.