BinaryX (old)
Crypto Overview
Project Overview
BinaryX is a GameFi development platform and a metaverse game publisher. The platform uses BNX as its governance token and in-game currency across its ecosystem of games. The project was launched in 2021 and operates on the BNB Smart Chain.
Intended Utility
BNX serves multiple purposes within the BinaryX ecosystem: Governance rights for protocol decisions, In-game currency for their published games like CyberDragon and CyberChess, Payment for NFT purchases in their marketplace, Staking rewards for platform participation.
Business Model Analysis
The platform generates revenue through: Game publishing fees, NFT marketplace transactions, In-game purchases and transactions. The core business model revolves around gaming and digital asset trading, which are permissible activities from an Islamic perspective.
Real-World Adoption
BinaryX has achieved significant adoption in the GameFi space with multiple successful game launches. Their flagship game CyberDragon has maintained an active user base, and the platform continues to expand its game portfolio.
Development Activity
The project maintains active development with regular updates to their gaming ecosystem and platform features. The team consistently releases new games and features, demonstrating ongoing commitment to platform growth.
Token Distribution
Initial token distribution included allocations for team members and early investors with standard vesting periods. The project maintains transparency regarding token allocations and vesting schedules.
Crypto Impact
To assign a comfort level investing in BinaryX (old) from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to BinaryX (old).
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.