BinaryX offers $500k in prizes to celebrate CyberChess launch

GameFi development platform BinaryX is offering up to $500,000 in prizes to celebrate the launch of CyberChess, its new play-to-earn auto-chess game.

The event is hoped to bring a strong start to the game’s competitive scene as players compete against each other for the chance to earn more prizes. Additional benefits, such as airdrops for BinaryX’s native token, BNX, will be announced and given away through Discord and Twitter to grow the community and increase engagement.

Part of CyberChess’ appeal is its monetization model. The game is free-to-play but offers a pay-to-earn experience, rewarding players for their skill and time in-game. New players don’t need to invest in a game they aren’t sure about when starting CyberChess — the game offers them five free heroes and two free skills to start the game off. If the players enjoy the game, they can then make in-game purchases to unlock heroes and skills alongside potentially earning tokens.

“As GameFi continues to mature and evolve as an industry, BinaryX plans to accelerate mass adoption of GameFi by making GameFi games more fun and challenging for players. This includes adding more complicated features and difficulty settings for gamers who want a solid strategy-based gaming experience as well as the earning potential of GameFi,” wrote BinaryX in a press release.

CyberChess and the BinaryX ecosystem

CyberChess is BinaryX’s third release after CyberDragon and CyberArena. The company added that the release of CyberChess would add utility to BNX, while the money generated from all three games would support the whole BinaryX ecosystem. The platform also publishes a transparent view of how the funding is being utilized on its official website.

Besides competing in ranked battles to climb the leaderboard and earn rewards, players also have access to the in-game marketplace. Items such as heroes and skills can be traded between players for gold, unlocking an additional option for players to upgrade their characters and accumulate gold. Sellers have complete control over the price they list items at, ensuring that the economy will be fully in the community’s hands.

“BinaryX created CyberChess to stand out amongst games in the play-to-earn genre. It comes with a more complex gameplay, which makes the game more challenging and fun for players who enjoy traditional strategy games. We’re excited for our fans to start playing CyberChess and to immerse into the new world we created,” said BinaryX global head of business development Chun S.

BinaryX also announced its plans to simultaneously be a GameFi developer and IGO platform following its IGO partnership earlier this year as it aims to bridge the gap between Web2 and Web3 by supporting developers looking to make the transition and lower the barrier of entry into the blockchain gaming industry for players, developers and investors alike.

“The goal is to be a home ground for gamers, developers and investors to access and interact with GameFi. We aim to be the frontrunner in the space and we have a ton of exciting IGO projects coming up. Launching our IGO platform is the next step,” said Chun.