BinaryX launch Cyber Incubation Fund to finance Web3 gaming
BinaryX launch fresh 220,000 BNX Cyber Incubation Fund to finance on-chain gaming companies and to develop and promote projects that are based on blockchain technology.
Materials and any other types of support at any point of development, from early to late will be provided using this fund. Incubation-required initiatives will be adopted faster by BinaryX. With the support of this incubator, BinaryX hopes to connect companies with its network of assets, advisors, and investors to aid in their launch.
The fund is backed by the project development team, startup investors, and members of the BNX community. In addition to the fund, BinaryX is also providing advisory services to strengthen support for the projects covered by the fund.
The monies are distributed from the entire BinaryX fund since BinaryX will contribute 8% of its total funds, to the Cyber Incubation Fund which amount to $12 million.
BinaryX has invested and incubated two GameFi projects since launching its incubation arm in mid-2022. There are several exciting projects in the pipeline, including SHIT games and the RhnoX nonfungible token collection.
Applications for the Incubation Fund are accepted all year long, and iterative support is given to any project at any level of development.
The team is trying to implement the buy-back plan for BNX with other strategic goals for long-term growth, including the creation of its most recent game, CyberLand, and has just organised a decentralised autonomous organization vote to decide on it.
In order to facilitate the launch of initiatives, BinaryX seeks to connect businesses with its ecosystem of tools, advisors, and investors through its incubation section. Regardless of where a project is in the development process, the Incubation Fund always accepts proposals and offers continuing support.
About BinaryX :
The play-to-earn games CyberDragon and CyberChess, which both utilise the BNB Smart Chain, are powered by the BinaryX GameFi platform. In the beginning, BinaryX was a decentralized derivative trading system. The group subsequently progressed to create decentralised video games, and it is currently changing to become a GameFi platform, launching its first game and providing IGO services to connect Web2 developers to Web3. The BNB Smart Chain's top 10 projects, including BinaryX, have a sizable community of more than 100,000 coin holders and 17,000 active wallets each month. In terms of trading volume on the BNB Smart Chain, it is also one of the biggest metaverse ventures. In addition, BinaryX offers a coin called BNX that has consistently performed well despite the negative market.
CBW - External Analyst