BinaryX Introduces Cyber Incubation Fund to Support Blockchain Games

BinaryX launches a new 220,000 BNX Cyber Incubation Fund, aimed at driving the growth and adoption of Web3 games. The fund, supported by the project team, seed investors and members of the BNX community, will be used to invest in on-chain gaming projects that utilize or are experimenting with blockchain technology. BinaryX is also offering […]

Don't got time to read? Listen it & multi task
BinaryX launches a new 220,000 BNX Cyber Incubation Fund, aimed at driving the growth and adoption of Web3 games.

BinaryX launches a new 220,000 BNX Cyber Incubation Fund, aimed at driving the growth and adoption of Web3 games.

BinaryX launches a new 220,000 BNX Cyber Incubation Fund, aimed at driving the growth and adoption of Web3 games.

The fund, supported by the project team, seed investors and members of the BNX community, will be used to invest in on-chain gaming projects that utilize or are experimenting with blockchain technology. BinaryX is also offering advisory services alongside the fund to bolster support for projects under the fund.

The fund will be used to provide resources and all forms of support for games at any stage, including early-stage, and late-stage development.

BinaryX Incubation Fund Distribution Breakdown

The fund distribution comes from the overall BinaryX fund as pictured below:

binary x cyber incubation fund
Source: BinaryX

BinaryX will allocate 8% of their overall funds to the Cyber Incubation Fund, the amount is $12 million USD at the time of writing.

Rudy, Head of Growth at BinaryX, said:

BinaryX is committed to accelerating the adoption of Web3 technologies in gaming. The fund is not limited to supporting blockchain games already in the space, but also traditional developer teams who want to experiment with blockchain in their games or NFTs. We believe in the overall growth and adoption of blockchain within the gaming ecosystem, and we will strive to support any project that is promising to that effect.

Since launching the incubation arm mid-2022, BinaryX has invested in and incubated 2 GameFi projects. Its portfolio includes SHIT games, and Rh!noX NFT collection, with several exciting projects underway.

BinaryX will accelerate its search and adoption of projects in need of incubation, and offer support across all stages, including early-stage and late-stage development.

With this incubation arm, BinaryX aims to connect projects with BinaryX’s network of resources, advisors and investors to help projects go to launch. The Incubation Fund is open to receive applications and all year round, providing iterative support to any project at any stage of development.

The news comes amidst already refuted rumors that BinaryX is selling tokens. To reiterate their stance, Rudy said, ‘We would like to emphasize that there was no foul play from our team. We are entirely focused on our games, and we have been communicating our upcoming plans transparently.’ The team has just arranged a DAO vote to decide on the buyback plan for BNX, and is working to execute it alongside other strategic plans for long-term growth, including the development of their latest game, CyberLand.

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 decentralized derivative trading system. The team gradually evolved into developing decentralized 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 17K monthly active wallets. It is also one of the largest metaverse projects by trading volume on the BNB chain. BinaryX also has a token, $BNX, that has consistently demonstrated strong performance despite the bear market.

For more details and information about BinaryX, please visit www.binaryx.pro

BinaryX whitepaper | About BinaryX deck 

Our Socials: Discord, Telegram and Twitter

Check out our games on our website and YouTube

Contact:

Sam K. – Communications Lead, BinaryX
Email: [email protected]

The post BinaryX Introduces Cyber Incubation Fund to Support Blockchain Games appeared first on Crypto Adventure.

Latest articles by Glenn Nasta

PEGA Pool is the Powered By Sponsor for Mining Disrupt 2023, Supporting Greener Future for Bitcoin Mining
Codego Crypto Gift Cards
Codego Launches the New Era of Crypto Gift Cards
HJHRE Reports HJH Investments’ First Quarter 2023 Results
Introducing DexCheck: The Future of AI-Enhanced Analytics in Crypto and NFT Markets
Introducing DexCheck: The Future of AI-Enhanced Analytics in Crypto and NFT Markets
Translate »