GameFi projects keep fighting their way out to seek sustainability while providing better gaming experience to players in 2022. As investors and gamers, we should all well understand the Faucet and the Sink that a project proposed to achieve the goal.
In this article I am going to share what I learned from the BinaryX June AMA and demonstrate how they built up games to align the new design.
Where Does Reward Come From?
There are two main key points that all GameFi needs to take care of. One is the in-and-out of players and the other is the cash flow.
Previously back in 2021, most projects rely on new players to invest in order to supply the prize pool for existing users. The reputation of play-to-earn” precedes the projects that some have been thought of as a Ponzi scheme.
It’s obvious that all players are willing to earn when they decide to join a GameFi project. But there is also an obvious question: where does the money come from to satisfy them?
The New Concept
The future GameFi in our opinion, should have the following characteristics: Play for free, earn money, or, Pay for fun
- BinaryX June AMA
BinaryX proposed the “Play for free, earn money or Pay for fun” modal to drive the flow for both people and cash. I organized as below:
Instead of the investment from new players, the prize pool will be supplied by “Pay for Fun” and “Revenue Stream” in the proposed scheme.
“Pay for Fun” means the players who are willing to pay for better gaming experience and some advantages to earn more.
“Revenue Stream” comes from various kinds of platforms including but not limited to IGO and asset trading.
The IGO platform is one of the main objects that BinaryX planned to establish. So far there are 2 projects that have been publicly announced - Rh!noX & ShitBeast
Players, Players, Players
Apart from the Prize Pool, this system also focuses on attracting new players and trying to create a positive circulation. Let me make it more clear:
The circulation marked as red represents the synergy by integrating Tokenomics and Platforms as following:
- Attracts players by playing for free and earning money;
- The players are encouraged to play the IGO games;
- The IGO games acquire the first pack of players more easily for initializing a great launch;
- BinaryX benefits from the Revenue Stream and reinvests into the ecosystem to attract more players.
This new concept overthrows the traditional stumbled play-to-earn mechanism. Players don’t need to be worried about a later join to BinaryX games.
The dApp Stars of BNB Chain
Finally, check out this live recording that BinaryX talked about the achievements and future plans on Jun 2, 2022. And feel free to revisit my article once again after you finish it. You'll definitely one step further understand my idea.
# I share game strategies in the BinaryX / Discord community. Win CNFT~
