GameX is an emerging protocol built on Binance Smart Chain (BSC) to bring gaming to the DeFi ecosystem. Designed by gamers, the protocol seeks to integrate games into the fast-growing decentralized finance (DeFi) ecosystem. GameX aims to be the go-to destination for all decentralized gaming features.
Such features include but are not limited to developing games that users can play, incorporating Non-Fungible Token (NFT) capabilities, and also rewarding users for contributing to its ecosystem development.
The GameX NFT marketplace will support digital artworks and collectibles built through the BEP-721 standard. Creators can mint their own digital pieces and can choose to list them for sale at any time. The listed items will be subject to royalty rewards which are charged when a listed item is resold.
The marketplace is at the final stage of completion and will provide a verification capability to enable users to deal with trusted creators only. This will create trust in the system and ensure that bad actors do not gain access to corrupt the marketplace.
Verification badges will be given to users after they just fill a form. However, they will have to provide KYC documents to get verified.
“Verified badges are granted to creators and collectors that show enough proof of authenticity and active dedication to the marketplace. We are looking at multiple factors such as active social media presence and following, dialogue with community members, number of minted and sold items,” GameX says.
XGameX will be the native token used to power the entire ecosystem. It will also serve as a reward system for game players, buyers, and sellers in the NFT ecosystem. In the short term, GameX is planning to release a play-to-earn game (META RACE) in the coming months.
The game will allow players to compete with each other and could be integrated with NFT capabilities which will make it more attractive.
Ethereum co-creator Vitalik Buterin is challenging one of Ether’s most celebrated investment narratives, suggesting that…
XRP whales appear to be making a bold move while much of the crypto market…
Ethereum co-founder Vitalik Buterin has warned crypto executives to switch focus to collective security and…
Binance founder Changpeng Zhao warned in a recent interview with CoinDesk that traditional banks may…
Ripple CEO Bradley Garlinghouse is pushing back against the idea that the company’s growing RLUSD…
According to a recent report from a local Chinese publication, Chinese regulators have moved against…