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Phil Hall
Phil Hall
Sep 20, 2021
News

Binance Smart Chain Puts Money Behind Decentral Games

Decentral Games announced that Binance Smart Chain put their development funds behind the gaming platform.
Binance Smart Chain Puts Money Behind Decentral Games

After receiving an investment from Decentraland last week, Decentral Games announced that Binance Smart Chain put their development funds behind the gaming platform. A part of the 100 million fund will be used by Decentral Games to add innovation to the play-to-earn gaming vertical on BSC.

For starters, this means that the native DG ecosystem token from Decentral Games will also bridge to Binance Smart Chain. The team will also benefit from the existing user base of BSC, while enjoying marketing support from Binance.

A recent report by Pedro Herrera from DappRadar stated that NFT-powered games were responsible for more than $1 billion in NFT trading volume in August alone. That amount was 20% of the entire NFT market. During that same month gaming was responsible for more than 1 million active wallets on Binance Smart Chain alone. However, it should be noted that we're mostly talking about GameFi. This is a gamified version of decentralized finance that hardly features the immersive characteristic associated with traditional gaming.

What is Decentral Games

Decentral Games became a DAO last year that puts focus on developing an on-chain game ecosystem inside virtual worlds. The DAO governs 400 land parcels in the virtual world of Decentraland. In addition they own a wide variety of games and interactive parcels inside that virtual world. Think about for example the Atari games and the Amnesia virtual club. Within these virtual environments players can use MANA or DAI.

The luck-based games by Decentral Games all work inside the virtual world of Decentraland. However, the developers have created these games completely on smart contracts, making them provably fair. Players can use MANA or DAI to play and gamble. With the introduction of the DG token, the developers distribute 62 percent of the supply to the community. Gamers can earn the token through gameplay or providing liquidity for trading.

An interesting mechanic is that all Decentral Games branded wearables inside Decentraland will provide a 10 percent boost on a player’s mining rate. So playing roulette wearing a shirt and matching pants will give players 20 percent more DG.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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