In the start of June, BinaryX had carried out another AMA session with the volunteer community where they can ask direct questions related to this month’s topic. Our Head Moderator Jay and Director of Business Operations, CP, have been asked to AMA to speak about Hero Recruitment Updates, CyberArena, Rh!noX NFT and IGO this month.
Don’t worry if you didn’t have a chance to attend this informative event; we have got your back. This AMA RECAP will allow you to go over everything that happened during the session once more.
Section 1: Details about Respective Topic
Section 2:Open Forum
An Overview of the Industry
CP: Let’s start off with some market outlook and what it means for the GameFi industry.
Recently, a lot has transpired in the market. The price of Bitcoin still wavers around the $30,000 USD level. The bad news is that the market may still be under a lot of pressure in the immediate term. The good news is that $30,000 remains a sturdy support at the moment.
Regardless, we must be prepared for the likelihood that the cryptocurrency market will not enjoy a bull run in the short term and that we need to persist in such an uncertain market for a longer period of time, allowing time for the market to recalibrate. Simply put, we will see more unsustainable projects capitulating….
CP: We noticed the GameFi industry undergoing some changes. Due to the decline in token prices and the failure of various economic models, several well-known projects have already capitulated. Creating a long-term GameFi business model is a difficult undertaking, a simple play to earn strategy will not cut it. We believe the key for long term viability is a vibrant user ecosystem with multi-dimensional use cases.
This is exactly what we’re doing right now — Our strength as a project is our ability to adapt through numerous industry cycles and we continue to lead the industry’s evolution through relentless iteration.
1a) Details About Hero Recruitment
CP: Some news and plans on CyberDragon. We put a halt to new hero recruitments for CyberDragon last month. The reason is because we anticipated the market trend ahead of time, through subtle changes in our data and project operation. We believe that sticking to the original economic model will put a lot of pressure on the price of our token in the future, therefore we decided to act decisively before things turn ugly….
To resume our hero recruitment function, we need to provide a more marketable mechanism.
As such Hero recruitment will no longer be at a fixed price in the future; instead, the daily hero recruitment quota will be auctioned through an English Auction to control the output.The auction will see a specific amount of heroes available for recruiting each week, with no defined starting price. The BNX portion will be chosen by the user, while the BUSD portion is fixed at 50. On top of all, the BNXC still abides by the recruitment rules of 1BNXC+ 50BUSD.In short, the auction’s bidder will begin with a low bid of BNX, with subsequent bids being higher than the previous one until there are no higher bids. When the bid enters available hero quota range of the week, the players will be eligible to participate in the hero recruitmentAuction will run for a week, with actual completion time determined at random on Monday night. As usual, the hero traits will be selected at random.We will leave the economic system to the market, and users will be able to show support and feedback through a DAO vote.More details will be disclosed during the DAO process, and we will collaborate with the community to determine the new economic model.
This is the direction in which our future economic model will take: a fully player-driven economic model, in which player decisions will have a greater impact on our economic system. We believe that such an economic model is more decentralized, viable, and capable at withstanding structural risks
1b) Details About CyberArena
CP: On the topic of CyberArena and upcoming games:
We are extremely heartened by the overwhelming support! A big thank you from the team to all of you!
While the current state of CyberArena remains very much a prototype, a new version with better visuals and mechanics will be released shortly!
And let’s not forget CyberChess and more upcoming titles slated for release this year. These new games will be the focus of our new endeavors. As previously mentioned, we believe that a game that is solely Play-to-Earn will be difficult to sustain over the long term.
The future GameFi in our opinion, should have the following characteristics: Play for free, earn money, or, Pay for fun. Paying gamers will considerably improve the economic stability of our platform. We believe games that provide good social connection and enjoyment will attract gamers to pay.
This necessitates the formation of a strong game development team. Our game team is currently expanding, with several experienced developers and designers from the traditional gaming business accompanying us. It is our hope to deliver more engaging and interesting games down the line!
1c) Details About IGO
CP: On IGO platform and plans
As stated in our whitepaper, platformization is also a critical step. We will not only release self developed games, but we will also propose good third-party games to our community in the form of IGOs.
IGO games will have a big beneficial impact on the overall BNX economic system: BNX might have more utility across such third-party games. With new games token/nft potentially being airdropped to BNX holders, and so on!
The future BNX platform will achieve a positive cycle:
1) higher concentration of gamers attracted to free games with high rewards
2) leading to more game publishers (more and better games for our gamers)
3) This will generate more revenue, which will go lead to higher rewards
4) Lead to step 1
At this juncture, we have spoken with a number of traditional game developers and publishers about our ambitions and plans to help their games IGO. The present GameFi business ecosystem will be altered by these well-made, large-scale games that currently have a significant number of users.
In the third quarter, we plan to launch our first IGO project. Of course, this is contingent on the game’s development and market conditions of the moment. Thus, please keep an eye out for our follow-up announcement!
1d) Details About Rh!noX
CP: Rh!noX is our new addition to our line up, built with the concept of Web3.0 in mind. We seek to make Rh!noX the soulbound token of the top players in the GameFi field.
Users who hold Rh!noX Soul Token can use it as credentials in BinaryX self-developed games and third-party games.
There will be a set of professional credit data analysis models developed to support the credit rating of each RhinoX avatars. Participating in each game will improve the credit level of RhinoX Soul Token, and enjoy more privileges in the game, as well as get Airdrops and offers for more games, the higher the credit level, the more rewards.
Together, we will make the RhinoX Soul Token the identity of our top Gamefi players!!
Now for an exclusive announcement:
A total of 9,000 RhinoX NFTs will be released on June 6th at 1200 UTC on our site! A Fair Dutch Auction will be the model for this sale, before we start, participants need to prepare at least 13 BNX and gas fee to make sure you can get it at launch…
Time: 06–06–2022 1200 UTC — 06–06–2022 1800 UTC
Total Supply: 9000 Rh!noX
Initial Price: 13BNX + Gas fee
Resting Price: 8BNX + Gas fee
Format: Price decreases by 1 BNX every 60 minutes
Duration: 6 hours
-BinaryX will purchase 1000 Rh!noX for partners and marketing
-All unsold NFT will be burnt
-NFT reveal after the sale
Jay: Thank you cp. We will now go to our next section. Open forum. We only have 20 minutes though
Section 2: Open Forum
Q1: Can you share more information about where the rewards come from if designing as “play for free, earn money”?
A1: Sure, it’s indeed a wild concept, free to play but can earn money. In other words, play for free, users earn money; Pay for fun, users pay money. In all our upcoming games, there will always be mechanics where paid players have certain advantages.
1) Take CyberArena for instance, BNX holders, NFT holders will have some variability. From faster battle points replenishment, ranked battles, season pass etc.
so in short there will be some features built in for people who are willing to pay
2) Revenue from IGO platform also budgeted to support these prize pools
Q2: Regarding the new auction system for minting, when is the date of the DAO? When is our target for release?
A2: It will be out in a few days.
Q: It’s normal for a paying player to spend millions and tens of millions on a fun game.
A: Exactly, ultimately we leave it to you, how much you enjoy the game and are willing to invest in the game…
Q: Can RhinoX available on Binance be sold?
A: The answer is yes. There is a trading competition on Binance NFT for Rh!noX so it is tradable in Binance.
**** End of AMA *****
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