Metaverse and blockchain are getting popular, DeFi, NFT, GameFi, Web3.0 and other fields have received unprecedented attention and development. GameFi is a term used to describe the combination of blockchain games and decentralized finance (DeFi). According to statistics, the GameFi industry will account for more than 55% of all cryptocurrency transactions in the fourth quarter of 2021, attracting more than 3.1 billion US dollars, a year-on-year increase of 6,810%, and the total number of investments were as high as 135, a year-on-year increase of 1,130%. The past 2021 saw GameFi exploding and the entire crypto-economy getting a major boost. At the same time, the products of the metaverse concept have also been fully developed, and a large number of projects combining GameFi and the metaverse concept have also been recognized by users.
Before GameFi, the gaming world did not allow players to actually own in-game assets. Metaverse and GameFi store in-game assets as unique NFTs and allow owners to sell them on the free market at a price of their choice. The rise in popularity of metaverse and crypto games as players collect and trade virtual assets demonstrates the superiority of open free trade over centrally planned economies.
BinaryX is a crypto game platform listed on Binance and Gate.io. Currently, BinaryX is running a game called CyberDragon which we have developed from scratch (https://www.binaryx.pro/). BinaryX is a large on-chain online game platform on BNB Chain. As of November 2021, there were more than 100k addresses held on the chain, a total supply of 21 million tokens, and a current circulating market cap of $540 million. CyberDragon is currently one of the most popular P2E (Play-to-Earn) game globally with huge returns for most of our loyal players. The gameplay includes Mining, PVP, PVE and we have just only recently launched our Decentralized Autonomous Organization (DAO) system. BinaryX is the first game globally to launch DAO, where players have the power to vote and decide the future path and developments of the game.
Although the metaverse and GameFi fields are developing rapidly, we still believe that the industry's infrastructure is still in its infancy stage. In the traditional game industry, game developers have the freedom, tools and advantage of a strong infrastructure for gaming development. For example: Unreal Engine and Unity Engine that provide development tools for developers, Steam and Epic Games Platform for game publicity and sales channels, AWS and Google Cloud that provide hardware support for online games, WCG and ESL providing tournaments and exhibitions platforms. A mature industry chain will provide strong support for game developers, allowing developers to focus on game creativity and design. In the fields of Metaverse and GameFi, when the industry infrastructure is still in the initial stage, game developers need to complete these tasks by themselves, which increases the difficulty for developers to build a Metaverse or GameFi project and distracts them from their original goal of focusing on developing successful products.
BinaryX will be looking to provide a comprehensive layout in the GameFi industry. By establishing a comprehensive GameFi basic service platform, it will serve all GameFi developers and promote the development of the entire industry.
In our plan, we are looking to provide developers with a series of basic services including: a more powerful NFT asset trading platform, a high-speed sidechain specially optimized for GameFi business, an IGO (Initial Game Offering) platform that helps excellent games raise and attract traffic, and a development platform for other GameFi teams to develop and optimize their projects.
In addition, BinaryX will continue the development of self-developed games and launch multiple metaverse games in the next year.
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