500% increase in active wallets in the last 7-days
The NFT-infused gamified DeFi dapp Binamars has launched to great success on Binance Smart Chain. Over the past 7 days, the dapp’s active wallets increased 500% to more than 13,770 unique user wallets.
NFT infused gaming is peaking right now and one new title reaping the rewards is Binamars. A platform that integrates NFT games and decentralized yield farm applications operating on Binance Smart Chain. Further awareness of play-to-earn mechanics has increased active wallets on Binamars 500% week-over-week. Pushing the DeFi meets NFT game to 61st position in the overall dapp rankings just nine days after its official launch.
Active users shot up to 13,770 in the last 7 days which stimulated over 12,690 transactions through the dapps smart contracts. This in turn drove $1.9 million in volume. Interestingly we can see that an average transaction on Binamars is worth around $152. Players need to secure a minimum of 2,000 BMARS tokens in their blockchain wallet to start the game.
Looking at the average transaction value, the stated minimum requirement of BMARS, and the token price. It appears most active users jumped in between Thursday and Friday last week when BMARS was priced around $0.07. At the time of writing, 2,000 BMARS tokens represent around a $300 investment – making this more of a pay-to-earn title.
What is Binamars?
Binamars is a play-to-earn NFT infused role-playing game developed on the Binance Smart Chain. The premise of the game revolves around collecting dragon eggs which then need to be hatched on Mars. Each dragon needs 15 days to grow into an adult dragon.
The mission is to send dragon eggs to Mars and hatch them using the element Binamars. Then raise them in farms until they become adult dragons. Importantly, while on the farm, it will produce the BMARS token. Once the dragon has matured, you need to get it out of the farm to fight and beat invaders to claim their items.
NFT Farming & Staking
As mentioned, after hatching the eggs, users can bring the newly born dragons to the farm to nurture and earn rewards. The dragon will produce BMARS tokens per block. The reward distributed for Binamars NFT farming is 30,000,000 BMARS tokens (30% of total supply). The reward will be distributed for 1 year and 10% will be taken off every 30 days.
Locked staking on Binamars represents a decentralized accumulation product for BMARS token holders, users can choose a suitable time along with a fixed profit. For example, staking any earned BMARS for 7 days will give an ROI of just over 4% currently.
Binamars NFT Marketplace
Binamars is first and foremost a blockchain game – which means that the players own their minted characters and equipment as NFTs. The right to sell and trade is entirely owned by the players. Users can search for characters and weapons that have been listed by other players, as well as list their characters and equipment for sale using the Binamars marketplace. There is a small buyer fee added to each transaction. Vitally, all transactions use the BMARS token. Stimulating utility around the game’s native token and presumably the price.
Play-to-Earn Takes Centre Stage
After waves of innovation and hype in both the DeFi and NFT sectors over the last 24 months, we are now observing how these mechanics can influence blockchain games. Arguably a sector of dapps that has long been too quiet. With just a few titles making any serious noise. Now we are seeing a rush to play-to-earn titles arguably catalyzed by the huge success of Axie Infinity. New projects like CryptoBlades and My Defi Pet have been making headlines recently. We made a list of the most popular play-to-earn games in July.
Blockchain games offer players the chance to win monetary rewards simply for performing actions in-game as well as attracting more users. Arguably, the shift is not at all surprising, considering it is a complete change from traditional gaming. Where players usually have to pay to get access to games and special features. In the play-2-earn model, they earn rewards for advancing in games. Follow DappRadar to learn the latest in the blockchain gaming space.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, ADA, NIOX, AGIX, DECENTRALAND, SAFEMOON, SDAO, CAKE, HEX, LINK, GRT, CRO, SHIBA INU, AND OCEAN.