BNX to Undergo 1:100 Split to Boost Investor Confidence for BinaryX Games and Products
[PRESS RELEASE – Singapore, Singapore, 9th February 2023]
BinaryX, a Gamefi and IGO platform, today announced it will split its token, BNX. The decision was made after the project team ran a DAO vote and received overwhelmingly unanimous support (99.5%) to conduct the split. The exact timeline for the split will be announced on BinaryX’s social media and community channels soon.
BNX is the platform token of BinaryX, and is used as a utility token for all activities on the BinaryX ecosystem, including in games and for the incubation fund. This move to split the token is expected to lower the threshold for overall spending, to increase new users’ acceptance of the token, and consequently increase the adoption of BNX in a broader crowd.
“Last year, BinaryX experienced an increase in adoption in many regions of the world, and our product line up expanded significantly. We evaluated the market situation at present and concluded that the current price of BNX per unit could be optimized to better promote BinaryX’s economic model and products. We’re confident that our community is behind us on this decision. The new denomination of BNX will undoubtedly have a positive impact, providing new utility and consumption scenarios, and driving the wider adoption of BNX,” said Rudy, Head of Growth at BinaryX.
Once BNX is split, all consumption scenarios of the old BNX will be transferred over to the new BNX. The split will have the same effects on in-game and/or output scenarios (e.g. CyberChess Weekly Prize, Hero prices).
As of Feb 9, BNX is priced at $100.5, according to data from CoinMarketCap.
BinaryX reveals new games and plans to push VR/AR games through their IGO platform in 2023:
Besides the BNX token split, the BinaryX team also unveiled plans to expand their plethora of game offerings. They will be sharing a sneak peek of a long-awaited update of their flagship game, CyberDragon, and a new offering, Project M. The team also expressed the intention to introduce virtual reality (VR) and augmented reality (AR) games into their product lineup later in the year and is actively receiving applications from VR projects to provide fundraising support and advisory services. Updates will regularly be shared on social media and in BinaryX’s community channels, such as Twitter and Discord.
“To ramp things up even more this year for our users, we will be releasing a series of new games and game updates across the year, including an update for CyberDragon. We’re dropping sneak peeks of some of our games real soon, so please stay tuned. As always, we thank our holders for their invaluable support and we look forward to revealing all our exciting projects in 2023,” Rudy said.
About BinaryX
BinaryX is the GameFi platform behind play-to-earn games CyberDragon and CyberChess, both of which run on the BNB chain.
BinaryX began as a decentralised derivative trading system. The team gradually evolved into developing decentralised video games, and is now transitioning to becoming a GameFi platform offering IGO services to bridge Web2 developers to Web3.
As one of the top 10 projects on the BNB Chain, BinaryX has a vast community of more than 100k coin holders and 30K monthly active wallets. It is also one of the top few metaverse projects by trading volume on the BNB chain, with more than 250 million in market cap. BinaryX also has a token, BNX, that has consistently demonstrated strong performance despite the bear market.
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