More than 50% of European families have some investment in digital currency. The average European family sees crypto as a viable investment and savings option. This was discovered in several recent surveys conducted over different demographic areas. Despite the volatility of the crypto space, as recent events highlight, it has seen a continuous rise in new investors. More people are committing to crypto investments and many of them are taking steps to buy into the growing market. The flurry…
People have jumped on the crypto bandwagon because of the strong returns that NFT video games promise in the real world. It’s more difficult because of its rarity, proven ownership, and ability to transfer assets to another person.
The combination of features we have just mentioned attracted users in 2021. This year, the use of NFT in games appears to be on the same track as it was a few months ago, with many teams betting on this technology.
Today we will review BNB Ragnarok, a new project aiming to exploit NFTs and passive crypto income to gain success.
About BNB Ragnarok
BNB Ragnarok (or “BNBRO”) is a new Play-to-Earn (P2E) game that will soon be available. Its team promises that the project will feature an ever-evolving universe filled with new challenges and opportunities.
As you explore the game’s story and fight creatures to the death, you will receive $BNB and $ZENY. In the project’s whitepaper, the team explained that these rewards would help you upgrade your character.
The first thing you’ll need is a wallet that works with the BNB Chain (e.g., MetaMask). Secondly, you’ll need some $BNB to cover the gas fees for each transaction. Finally, you’ll be able to create your character and join this new P2E game.
We outlined the project’s most essential aspects in the following sections.
Auto-Staking – Favoring the Buy-and-Hold Model
The Auto-Staking functionality of the project wishes to motivate investors to make use of the buy-and-hold strategy. The team promises to leverage this mechanism to distribute incentives to all of those holding the $ZENY token.
While we will not provide you with a highly detailed description of how the product works, we can summarize its core functioning:
- High-frequency rewards: the team explained how users would obtain rewards in their wallets every 15 minutes.
- Automatic feature: the project’s founders also clarified that no one would need to re-stake funds after each 15-minute epoch, as the algorithm will automatically handle the process.
- Obtaining $BUSD reflections: lastly, BNB Ragnarok’s whitepaper promises to provide the community with 3% of all the trading fees.
How Do You Play?
In Ragnarok, players will be able to fight hordes of monsters, take on others in weekly MVPs, and win $BNB rewards. The project will feature 50,000 NFT heroes, ranging from “Common” to “Legendary.”
In order to participate in a game, you must convert these Heroes into NFT Heroes (i.e., you need to “mint” them). Every hero may gain experience by leveling up using the $ZENY tokens.
The game offers several gameplay features, such as:
- Player vs. Environment (PvE): players need to use their understanding of the game’s mechanics to plan out their strategy and defeat their opponents.
- Player vs. Player (PvP): this function allows you to compete against other gamers and friends. Your character’s attributes and gear will determine whether you will win or lose, together with your strategy.
- Weekly event: the MVP arena hosts weekly challenges against powerful opponents.
- Idle quests: this feature will allow you to stake $ZENY or in-game NFTs to earn rewards. The team expects to release the functionality in the project’s second phase.
- Character fusion: this is another feature that will appear in the second phase of the game, enabling you to combine NFTs to get a stronger one.
The Fire Pit Feature
The Fire Pit feature is responsible for burning 2.5% of all $ZENY exchanged. A self-fulfilling Auto-Compounding mechanism causes the fire pit to increase in size, limiting the circulating supply of the token.
We are witnessing a real boom in the phenomenon of deflationary tokens in the blockchain industry. This strategy aims to force deflation in a crypto ecosystem, building an increasing idea of token scarcity. In other words, the team wishes to sustain the price floor of $ZENY through this mechanism.
The Tokenomics of the Project
$ZENY is the in-game resource token and its form of governance. Play to Earn players will receive rewards in the form of the token, and $ZENY will also have a relevant role in the game’s economy. Upgrades such as leveling up, opening a warp portal, and more are available via spending it.
As a result of the $ZENY token’s community-driven design, the game’s earnings will be distributed to all $ZENY holders. Whoever holds $ZENY has the power to influence the game’s destiny by casting a vote.
Every 15 minutes for the next five years, $ZENY holders will receive a passive interest payment of $ZENY’s total supply of 100,000,000 tokens.
In the beginning, there will be 325,000 units as initial supply. The team deliberated on the distribution of the token through brainstorming and the development of ecosystem-building concepts. Future actions and circumstances in governance may need revisions to the plan.
The token allocation will involve the P2E & staking mechanisms (10%), the private sale round (5%), the internal burning mechanism (5%), and, most importantly, the presale and liquidity funds (80%).
Each transaction will trigger the application of a tax. Specifically, anyone wishing to buy tokens will need to pay a 16% fee, which we can break down as follows:
- Reward pool P2E: 8%
- $BUSD reflections: 2%
- Firepit: 1%
- Treasury: 2%
- Auto-liquidity engine: 1%
Each sale will require the payment of a 16% tax, with the same purpose as the fee described above. The only difference will be an increase in the treasury fund collection (from 2% for purchases to 4% for sales).
The team completed the market research phase in the second part of 2021. The new year started with the first development steps (e.g., website creation, referral system, etc.).
Furthermore, the founders completed the design of the BNB Ragnarok’s tokenomics, as we explained above.
The following weeks should include more important milestones, such as the $ZENY presale round on PinkSale and the token listing on PancakeSwap. As we often observe in this market, CoinGecko and CoinMarketCap will also list the coin on their portals.
According to the team’s plans, the PvP system should be ready for the project’s community in the coming weeks.
Our overview presented, impartially, a series of features and ambitions of BNB Ragnarok. After reading this article, playing with the actual platform will help our readers grasp this project’s concept. In order to do so, the team designed a beta version of the BNBRO system.
The team promised a 5% reward (paid in $ZENY) from the referral mechanism in the Game Ecosystem. The following months will help the market evaluate the project’s value proposition.
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