BinaryX introduces a fresh 220,000 BNX Cyber Incubation Fund in an effort to promote the development and acceptance of Web3 games. The fund, which is sponsored by the development team, startup investors, and representatives of the BNX community, will be utilized to finance on-chain gaming ventures that leverage blockchain technology or are exploring it. Besides the fund, BinaryX is also providing consulting services to boost assistance for fund-supported enterprises.
The fund will be utilized to give tools and all types of assistance for games at any advancement level, particularly early and advanced stages. As shown below, the fund allocation is derived from the entire BinaryX fund:
BinaryX will give 8% of their total assets to the Cyber Incubation Fund, which at the time of preparing this report is $12 million USD. BinaryX is the GameFi framework underlying the play-to-earn titles CyberDragon and CyberChess, which both operate on the BNB chain.
BinaryX originated as a decentralized system for trading derivatives. The group gradually transitioned into creating decentralised video games and is currently transforming into a GameFi solution offering IGO services to connect Web2 programmers to Web3 developers.
Being among the top ten initiatives on the BNB Chain, BinaryX boasts an extensive community of over 100,000 coin holders and 17,000 monthly active wallets. It also ranks among the greatest metaverse initiatives in terms of BNB chain trade volume. In spite of the negative market, BinaryX’s token, $BNX, has continually showed great success.
“Binaryx is dedicated to advancing the use of web3 solutions in the gaming industry,” stated Rudy, Chief of Growth at BinaryX. The fund is not restricted to assisting blockchain games currently on the market, but will also back conventional programmer groups who wish to trial with blockchain technology in their titles or nfts. We trust in the expansion and acceptance of blockchain technology in the gaming industry as a whole, and we will back any initiative that has promise in this regard.”
Right from the incubation division’s start in the middle of 2022, BinaryX has funded and fostered two GameFi concepts. In addition to SHIT games and the Rh!noX NFT series, the company has a number of fascinating projects in the works. BinaryX will expedite its quest for and acceptance of initiatives requiring incubation, as well as its assistance for all phases of advancement, such as early-stage and late-stage.
With its incubation division, BinaryX wants to link companies with its ecosystem of tools, consultants, and investors in order to facilitate the debut of initiatives. The Incubation Fund accepts proposals year-round and provides ongoing assistance to all projects, regardless of their development phase.
The announcement follows previously disproven claims that BinaryX is offering tokens. Rudy stated, “We would want to clarify that there wasn’t fraudulent activity committed by our squad.” We are completely devoted to our games and have been honest about our future goals.”
The team has recently conducted a DAO vote to agree on the repurchase program for BNX, and is preparing to implement it with other strategic goals for long-term development, such as the creation of CyberLand, their newest game.
