BinaryX AMA with Degame: CyberChess, a New play-and-earn Strategy Game Launched
Hello Players!
We had an AMA on twitter space, together with Degame on 18th October with a comprehensive introduction of the CyberChess, our new strategy game, here’s the summary article of the AMA.
Introduction
As the game runs, we have reached a milestone of distributing weekly rewards to over 15,000 wallets and many players would like to have a discussion with our team about this exciting game in depth. Therefore, we decided to have an AMA with the Degame to not only bring more detailed information and deeper insights to our fans, but also let the community directly communicate with us about this new game.
AMA Information
Host: Keira — DeGame PR
Guest: Chun, Global Head of Business Development at BinaryX
Channel: Twitter Space
Click here for Link to the AMA
Introduction to BinaryX Team
Q1. Would you mind introducing yourself, and telling us about your background and the team working on BinaryX?
Chun: Hi everyone, I am Chun, head of Business operations and development at BinaryX.
BinaryX is the GameFi platform behind metaverse games, CyberDragon and CyberChess.
BinaryX began as a decentralized derivative trading system. Recognising the burgeoning popularity of GameFi and interest in the metaverse, the team gradually evolved into developing decentralized video games, and is now a GameFi platform offering IGO services to bridge Web2 game developers to Web3.
As one of the top 10 projects on the BNB Chain, our governance token, $BNX has more than 100k coin holders and 15K monthly active wallets. It is also one of the largest metaverse projects by trading volume on the BNB chain, with more than 300 million in market cap. $BNX has consistently demonstrated strong performance despite the bear market.
For more details and information about BinaryX, please visit www.binaryx.pro
Introduction to CyberChess
Q2. We know that recently you launched a new game CyberChess. Can you tell us more about CyberChess?
Chun: It’s a free-to-play, play-and-earn auto chess strategy game in the P2E dominant GameFi space.
CyberChess was designed to allow players to start playing the game without having to make an initial investment..with the option for players to recharge their account with our Gold token to make in-game purchases to summon new heroes and acquire new skills.
Q3. What is the competitive advantage of Cyberchess when it’s compared to the other existing games in the market?
Chun:There were 3 design principles going into developing Cyberchess.
1.Strategic and competitive — We were inspired to build this game after gathering feedback from our community. that they wanted something more tactical and strategy-based. CyberChess is essentially a step up from CyberDragon, and includes more complex gameplay, more customization in terms of heroes, and skills.
2.Lower barrier to entry — Given the current market conditions, we were very mindful of added fees for players to start the game, such as initial investment and gas fee.
3.Better quality — The market is moving fast, and the quality of web3 games has rapidly accelerated. To this end, we set out to expand our development team.to incorporate more game developers from the traditional gaming space.
Q4: What are the current in-game assets that can be linked with the first two games? For example, can the heroes in CyberDragon be used in CyberChess?
Chun: Yes, CyberDragon NFT can be transferred to CyberChess as long as they are not inside the Mining, Marketplace, or Dividend Pool (Staking of NFT). There is one important thing to remember, you cannot take out or bring back your CyberDragon Heroes. It is now bound to CyberChess and will be treated as one of CyberChess NFT.
Q5. What is the tokenomics structure and token utility?
Chun: BinaryX platform is powered by a multi token economy. Our governance token, $BNX is primarily minted when players play our games and is used in many platform features, such as bidding for our CyberSeries NFT or to participate in DAO votes.
Our other token $GOLD, is our game currency. For instance, players can spend gold participating in dungeon raids on Cyberdragon.
Specifically for Cyberchess. We have added many new ways to earn BNX as well as to spend Gold. Gold can be used to purchase heroes and skills, for users who desire more variability in gameplay.
More on BNX Token:
Blockchain Network: BNB Chain
Max supply: 21 million
Circulating supply: 2,022,897.57 BNX
Market Cap: 310 million
Listing Price: $6.92"
Q6: Could you explain more clearly about the play-and-earn mechanism in Cyberchess ?
Chun: Unlike Play to Earn Games, which are purely focused on earning potential of gamers, Play and Earn focus is to strike a balance between earning and having fun. That means creating an environment for players to play leisurely for free, compete, and if they would like, activate earn modes to play for profit. This GameFi model lowers the barrier of entry to GameFi for first time players who are cost-conscious. Despite being a relatively new concept, it is already being adopted in games like CyberChess, where players can play for free and even compete at certain tiers. All they really need is to verify their Metamask wallet.
Q7: We’re sure many gamers here are interested to play the game. Will you have motivating reward and incentive programs to increase your community’s interest and attention to your project?
Chun: Season 1 of Cyberchess is currently ongoing, and it will go on for 8 weeks. During each season, BNX will be awarded on weekly basis based on the tiers players are on. For season 1, we are giving away up to $500,000 USD worth of BNX. For those who are interested in participating, all you have to do is check our Twitter and join our Discord.
We also have promotional codes for first-time players. New players can enter the code ‘4morechess’ and get 2 free heroes and 2 skills on us, worth 140 USD.
Recent Updates&News on BinaryX
Q8: Which partnership excites you the most recently?
Chun: There are loads! We worked with SHITLabs to develop and launch their IGO project recently. That was really fun.
We are also doing local collaborations so that we can interact with our fans from different markets and get feedback from the community.
Finally, we are working actively with guilds and gaming communities to develop features to support esports competitions on Cyberchess.
Q9: Were there any hiccups/obstacles faced recently?
Chun: As you may be familiar, we have been experiencing a crypto winter since late 2021 till now, and that has been challenging, not just for us but for the entire industry. The play-to-earn model was being questioned with the fall of Axie Infinity, as well as many other gamefi projects experiencing waves of mass exodus.
To tide through this period, we’ve had to pivot our strategies more than once. In the earlier part of the year, we focused more on figuring out a more sustainable model for our project. through heavy consultation with our community and a DAO vote, we managed to avoid a near crash during the crypto market collapse in January
We also published a whitepaper in March, highlighting our roadmap to become a gamefi platform. By releasing more genres of games with sophisticated tokenomics for our diverse user base, we are devoted to providing platform services such as marketplace, sidechain and IGO services for 3rd party game developers.
We hope to continue to provide better gaming experiences for our users base, as we as take steps towards becoming a trusted service provider for our gamers, investors, and developers.
Future Plan of BinaryX
Q10: What does the future of BinaryX look like?
Chun: We continue to push on two aspects.
Firstly, on the platform and developers side, we are looking to provide aspiring gamefi developers with a series of services and tools, for instance: a gamefi asset trading platform that support assets from multiple chains, sidechain specially optimized for GameFi , as well as an IGO platform with the goal of connecting gamers, developers, and investors together.In fact, We just completed our first IGO with SHITLABs recently which was extremely well received.
Secondly on the gaming side, BinaryX will continue to invest in our existing games as well as develop new genres for our expanding base of gamers. We hope to expand our game selections, and make it more diverse so that gamers of all levels can play our games. We recognize that the space lacks diversity, and we hope that we can improve that by introducing different genres into our arsenal. The point is, as the industry evolves, so will we.
More Concerned Questions
In addition to the above questions, we also collected some questions that our fans are concerning about this game. We picked 5 questions about token, community, languages and how to get started in CyberChess.
Q11: Users often care less about technology, but rather the value of the token. How does BinaryX manage to strike a balance between developing the technology and also improving the value of the token? What are the benefits of token long-term holders?
CP: The two go together. We have a team that evaluates our tokenomics model on a periodic basis to optimise the way gamers spend on the game. This ensures that gamers stay engaged and incentivised to play our game and hold BNX in the long haul, thus preserving the value of BNX.
Q12: Most P2E games currently suffer a low player base due to the expensive initial cost for a new player to take part in the game, How does @binary_x attract a large group of players ?
CP: CyberChess offers Free-to-Play. You can test out the game first without any cost, you just need to connect your wallet and play the game, we don’t even charge any gas fee for playing. We are giving out 5 Free Heroes and 2 Skills on the first day you login into our game. Gift Codes are also scattered among our community and social media, which gives out 2 Free Heroes and 2 Free Skills. Our game is designed to give Free-to-Play users a chance to earn money by investing their time and knowledge within the game.
Q13: Can you tell us about your efforts to expand globally, including non-English speakers, so that BinaryX mining is accessible to everyone, regardless of the region? Do you have a local community building and ambassador program to better understand your project?
CP: Yes, our community is globally recognized and we have a lot of localized communities in Telegram and Discord. We value each of our communities even with our differences in culture or beliefs. We also have an ambassador program to reach other countries that we believe can be part of our community as well. Everyone can apply, as long as you have the willingness to help us grow our localized communities.
Q14: To start playing a normal match in cyberchess how many heroes do I need ? What are ways to get heroes and skills?
CP: You only need 5 heroes to play in the match mode, which are also given once you login to the game for the first time. You can also get 3 more heroes and skills via daily rewards and gift code. To get more heroes, we have our summoning altar and marketplace.
Q15: These days we saw a lot of security breaches in the crypto space, which measures did BinaryX have opted to prevent its users ? Also, is BinaryX audited ?
CP: Yes, our smart contracts are audited by Certik to ensure that we have a safe environment for our gamers to invest in and play our games.
*End of AMA*
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