Singapore, Singapore, December 12, 2022, Chainwire

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

The fund, backed by the project team, seed investors and members of the BNX community, will be used to invest in on-chain gaming projects using or experimenting with blockchain technology. BinaryX also offers advisory services in conjunction with the fund to bolster support for the fund’s projects.

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

BinaryX Incubation Fund Distribution Breakdown

The distribution of funds comes from the general fund of BinaryX as shown below:

BinaryX will allocate 8% of its total 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 games. The fund is not limited to backing existing blockchain games, 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 will strive to support any projects that show promise in that regard.”

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

BinaryX will accelerate your search and adoption of projects that need incubation and offer support at all stages, including early and late stage development.

With this incubation arm, BinaryX aims to connect projects with BinaryX’s network of resources, advisors and investors to help get projects off the ground. The Incubation Fund is open for applications throughout the year, providing iterative support to any project at any stage of development.

The news comes amid already disproved rumors that BinaryX is selling tokens. To reiterate his position, Rudy said: ‘We would like to emphasize that there was no foul play by our team. We are fully focused on our games and have been communicating our upcoming plans in a transparent manner.” The team has just hosted a DAO vote to decide on the BNX buyback plan and is working to execute it alongside other strategic plans for long-term growth, including the development of its latest game, CyberLand.

About BinaryX

BinaryX is the GameFi platform behind the money-making games CyberDragon and CyberChess, both of which run on the BNB chain.

BinaryX started as a decentralized derivatives trading system. The team gradually evolved into decentralized game development and is now transitioning to become a GameFi platform offering IGO services to unite Web2 and Web3 developers.

As one of the top 10 BNB projects, BinaryX has a large community of over 100,000 coin holders and 17,000 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, which has consistently shown strong performance despite the bear market.

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

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