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Opposite from the actual market solution, NFT games are all the rage and can be written down in historical records. The success of Axie Infinity has been overwhelming, and its value exploded 20 times more during the last few months. And this is with a $1B cost to note.
So if you’re planning to get into blockchain games or NFT games, go for it! Then if you lean towards themes that let you collect monsters to have them battle, we’ve got something for you.
Other than Axie Infinity, there’s also Binamon. It’s a blockchain-backed and NFT gaming metaverse that lets you collect adorable, almost 3D-like monsters that you bring to battle.
It’s similar to Axie Infinity but what makes Binamon interesting and what charm does it have? What makes it unique, and should you even get into this? To learn more about this NFT game, continue reading as we give you a rundown on it.
Binamon is an entirely complete metaverse of digital monsters. It has an architecture that allows users to interact with the blockchain technology in a transparent, fun, and secure way.
Not only that, but Binamon is a multiplayer RPG blockchain-based play-to-earn game. With that, you can take advantage of a plethora of services and products which will benefit everyone in the community.
This NFT game is the latest application of decentralized gaming, and is backed by a well-conditioned gaming protocol. Not only that, but it’s combined with the efficiency and effectiveness of the blockchain.
The game is created by a company based in Argentina. It was founded by the present CEO and Software Architect of Binamon, Nicolas Veiga Palacios. The goal with Binamon is to establish a whole metaverse filled with digital monsters where millions of people can join.
Compared to other platforms, the ecosystem of Binamon has successfully introduced the option of leading physical Binamons to the users. Think of it as having a Pokemon card but combined with the classic feel of Mushiking – a beetle-fighting arcade game.
Right now, you’re probably wondering how you can own a physical NFT. This is possible via small contracts which are a collection of promises that are specified in digital form.
These have their own protocols that need to be followed. Such protocols include coding business logic into the software, determining agreements between parties, running contracts for verification and compliance, etc.
That means, the requirements to play Binamon is paying with BMON tokens. Another is proving ownership through smart contracts that were created.
This blockchain-based earn-to-play game operates via the Binance Smart Chain. It’s a dual-chain structure that lets users establish decentralized applications and digital assets on a single blockchain.
For its primary assets, the game has the BMON token as well as NFTs.
BMON is the main currency of the game. And according to its whitepaper, it’s a valuable reserve in the metaverse labeled, “The Divine Particle Creating All Life Forms”. So, this token is mainly used for creating your Binamons while simultaneously functioning for other elements such as the following:
Moreover, Binamon utilizes a deflationary tool that secures assets from losing value. This is done by burning BMON tokens used in creating a monster. And as a result, it limits the number of Binamons available in the universe.
BMONs are the platform’s utility token that’s responsible for the fluidity and status of transactions within the ecosystem. As the “divine particle”, BMON was considered a catalyst for Binamon’s birth and rise to the top of decentralized gaming.
The game’s token is considered as a deflationary type. So, Binamon’s NFTs and its token are expected to rise in value as time passes. There have been a couple of NFTs present in the Binamon universe that were sold for more than $50.000.
Why were these sold for a huge amount? Because the stronger the monsters are, the greater rewards an owner will accrue. So with how things are going for this play-to-earn game, Binamon is surely going through the right track.
The Binamon gameplay is unique yet simple. It follows a play-to-earn concept which is popular these days. As a player, you have to gather Binamons that you can trade with other players. If not, you can stake these to earn the game’s tokens.
The game combines speed and adventure where you and your monster’s skills are utilized to go through different battles. These are against monsters that once you beat, will earn you rewards that can be swapped to real money.
As the game progresses, you’ll earn better with more rewards which makes this game all the more exciting.
Binamon comes with a couple of interesting game modes which range from gathering Binamons, Multiplayer modes, and Battle Rounds. Here, you can stake your NFT Binamons to earn attractive returns.
The Battle Mode in Binamon lets you pit your Binamons against other players’ monsters. Doing this will allow you to earn BMON.
To earn, you will need to put together a team to battle with monsters. And as we mentioned earlier, doing so will give you the chance to win excellent rewards.
In Battle Mode, you and all the other players can fight against each other by wagering BMONs. Whoever wins will take the prize at stake.
Battles will be paired between the same class of Binamons as the battle will be resolved via smart contract. A small percentage of the BMONs will be burned in the process.
When you have a powerful Binamon, it will have a higher chance of winning in battle. Yet for the weakest one, if it goes to battle and emerges victorious, it will receive a greater reward.
Here is the mode where you can enjoy the game’s rich and exciting environment together with your family and friends.
There will be an Adventure Mode too which is still under development. This will give you and other players more features and richer, more exciting open-world gameplay.
Here, you can create assets to sell on the marketplace. These will have the capacity to boost the power of Binamons.
For the trading zones, these will be specifically for players and content creators. This is where they can purchase or sell assets.
Users will get to enjoy a simple yet dynamic and economical model that’s focused around the characteristics of in-game characters. Specifically, these are the Class, Attacks, Element, and Hornpower.
Each of these characteristics offers greater strength and performance to the monsters during the game and battles. In addition, the characteristics boost intrinsic value, as well as market price of the digital monsters.
If you want, you can even create your own Binamons through smart contracts. This will certify the authenticity and ownership of the NFT.
There’s a specific algorithmic cost linked to the generation of each monster. These costs depend on the difficulty in developing the components of the Binamons. This also goes for the amount of BMON tokens used to generate it.
This game was released last August 28 of 2021. It’s goal is to compete with the popular blockchain-based play-to-earn game, Axie Infinity.
Just like this game, Binamon’s distinct features let users and blockchain enthusiasts benefit from a protocol established around financial freedom. This is while keeping the attributes and aspects of classic gaming.
Through the decentralized user-generated content and highly-interactive marketplace, you can sell, trade, and own all assets supported by BMON tokens.
Since it utilizes a similar algorithm with Axie Infinity, Binamon will have you navigate through the game’s map during campaigns. This process will let you face a variety of monsters along the way.
Like we’ve mentioned, each destroyed creature will give you a reward, and these can be exchanged for real cash. With this gameplay and structure, the platform aims to encourage and attract more users to engage in Binamon.
The difference between Binamon and Axie Infinity is the circulation. In Binamon, it is very low because every time a player creates an NFT, the tokens are burned. Thus, the fixed supply of coins retains the high rarity.
Of course, you can also earn while playing Binamon and here are the ways you can do this.
This is the first way you can earn while playing Binamon. Through staking, you can stake your NFTs to acquire more BMONs and BNRGs daily.
The Binamons acquire rewards via a one-to-one ratio. It means that you get rewards for each monster you have no matter what their characteristics are.
The game’s system calculates the rewards on a daily basis, and these are given based on factors. What you’ll receive is going to be based on your share or offerings in the pool.
Here’s an example: you already acquire passive income from the NFTs you bought. You get these when they’re attacked during the quick Battle Mode. In addition, an initial 100% APY is earned through BNRG, and this is by staking their energy.
Energy or BNRG in the game is considered as a form of currency used to purchase Energy Booster packs. These either boost the defense or attack of a Binamon.
Plus, the merging of two monsters is possible. However, it would require a specific amount of energy.
Remember that to empower a Binamon with energy, they must be under the same class and element. So, Binamons that are rarer need to use rarer energy to get empowered.
The second way to earn in Binamon is through battles. Here, you let your monsters engage in battles where you can choose your champion to represent you in battle.
Based on its whitepaper, Binamons can only battle with other Binamons of the same class. Here, you can acquire BNRG, BMON, BNB, and BUSD.
Keep in mind that there are various chances of winning depending on the power and capacity of your card. That also goes for the defending card. If your card is weaker compared to the defender, your chances will be lower.
But the thing here is, your rewards will be higher so it’ll be up to you to take the chance.
Here are the steps you need to follow to get started with Binamon.
Remember that the Binamons are made from the Smart Contract Boosters of monsters that offer three NFTs with every purchase.
Yes, definitely, since it’s a really interesting game that has 3D-modeled monsters. It lets you take their NFTs and you’ll also get to acquire a physical copy of the NFT. Pretty cool, don’t you think?
Yet similar to all other cryptocurrency endeavors, you should take the time to do your research before spending. Find close friends or family members who have checked into the game.
Yes, it’s just a game. But since you’ll utilize your hard-earned money for it, you need to do things wisely. Also, it’s still best to use funds that you can easily let go of at any time. Remember, the crypto game environment is extremely volatile.
Now that we’ve given you a rundown of what Binamon is, do you think it’ll boom just like Axie Infinity? Or maybe it’ll be just like DeFi Pet?
One thing’s for sure, it’s a fun game where you can earn, but like every investment, always do your research.
Since its launch on August 28 of this year, this blockchain-based play-to-earn game has been successful among gamers. The digital metaverse Game-Fi app on the BSC has encouraged lots of users in the Game-Fi ecosystem.
The game is basically a gem that the world of crypto has been waiting for. That’s because it’s a play-to-earn title that mixes huge earnings while focusing on quality.
With that, it was Binamon that introduced the play style of Pokemon to the blockchain world. It also brought the idea of Digital Monsters that can be traded for large sums of cash.
It’s claimed that the priciest Binamon found in the Binance Marketplace is priced at $7 million. Also, Binamon claimed that its value skyrocketed from $2 million to $20 million market cap. With that, it surely sees success in NFT gaming.