The Chainbinders game based on a liquid NFT economy has attracted over $5 million in investments over the first two hours of its liquidity generation event. A total of $3.8 million equivalent in the game’s native BND utility tokens were sold in under 15 minutes. The project found immense success among crypto users as the team managed to raise $6,2 on the first day of the LGE due to the project’s high production quality, innovative game-theory mechanics, and a hyper-deflationary tokenomics model.
Chainbinders is the latest NFT product by Doki Doki DeGacha inspired by the popular Japanese Gachapon ( ガチャポン), where players receive random collectibles from vending machines. Roy Blackstone, Creative Director at Doki Doki, explained that Chainbinders combines the elements of game theory, art collecting, gacha, and anime. He added:
“At its core though, Chainbinders is an NFT game experience the likes of which has never been experienced before, and likely never will be experienced again. We’re creating original IP and characters (a massive cast of 15 of them!), giving them each their own backgrounds, lore, stories, motivations, and then gamifying them on the marketplace with some clever token mechanics to make sure these NFT’s have instant liquidity and actual value.”
The game is a post-apocalyptic metaverse with 15 unique characters called Chainbinders, who acquire mystical powers that have allowed them to survive after chaos gripped their homeworld. The Chainbinders seek their collectors – individuals with the ability to restore the characters to their full strength. More than 50 people ranging from artists, writers, musicians, and blockchain developers are said to be involved in the production of Chainbinders.
Players will be able to use the native BND utility tokens for rolling in-game Chainbinders Gacha – online vending machines. The BND tokens used for each roll are permanently burned as part of the token’s hyper-deflationary economy. Such an approach is intended to ultimately reduce the amount of BND in circulation after launch, increasing their end-value for players.
Each Chainbinders Gacha offers players a choice of over 100 cards of in-game universe items and characters, with 15 of them being Legendary-level Chainbinders of extreme rarity. The limited card quantities, roles, backstories, items, extensive lore, and abilities of each Chainbinder make them highly sought-after characters, and players have the ability to further augment them using more than 100 of the unique artifacts and items attributable to each.
A percentage of total liquidity pool reserves maintains the value of all Chainbinders cards with the rarity of each raising its percentage proportionally. The token economy also includes novel token-burning mechanisms that activate on-demand liquidity for each of the NFTs, allowing players to burn their tokens or instant value and receive 85% of money spent back. The irreversible nature of the process decreases the total quantity of tokens in circulation, thus generating greater returns for holders in the future.
The LGE will continue under May 1, with all BND tokens to be made accessible to players in-game immediately afterward.
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