RhinoX Soulbound NFT releases roadmap detailing new “Soul Breeding” mechanism on Web3
Singapore, Singapore, 19 October 2022, Chainwire
BinaryXa GameFi development platform, today announced the launch of their official RhinoX roadmap that unlocks new and exciting areas of use for soul bound tokens in the Web3 area. The roadmap reveals RhinoX’s ambitious plans to develop a “soul breeding mechanism” that will allow existing RhinoX token holders to breed 2nd generation NFTs from their existing NFTs.
RhinoX Soulbound tokens
The concept of Soulbound tokens was first introduced by Ethereum founder Vitalik Buterin. He envisioned a blockchain-backed, non-transferable NFT that could be used to represent an individual’s identity in the metaverse. RhinoX is inspired by that concept.
Earlier this year, the RhinoX team released the first iteration of the RhinoX NFT, now known as the 1st generation Soulbound NFT. It is linked to a credit rating system and a behavioral analytics model that tracks key user data. A reward mechanism is also used and RhinoX holders can enjoy certain benefits according to their activity level and milestone achievements.
Revealing the new RhinoX ecosystem
According to the roadmap, RhinoX is set to enter a new phase of development, with a complete ecosystem and a few standout features.
Introducing the “Soul Breeding” mechanism
The ecosystem has an existing credit rating system and behavior analysis model. Apart from that, the team plans to introduce the ability to “breed” new 2nd generation NFTs from 10,000 1st generation RhinoX NFTs that sold out in June this year.
The 2nd generation NFTs will be called Baby RhinoXs, and it will come with a different set of use cases, such as social identity building and asset collection.
“Personalization is the key to self-identification. We want RhinoX to be a canvas for creative designs to come to life. We hope that with the ability to customize NFTs, RhinoX holders will feel a greater sense of ownership of the NFTs they own,” said Chun, Global Head of Business Development at BinaryX.
RhineT – A Web3 platform for social networks
RhinoX is also scheduled to launch a new social platform called RhineT. RhineT will be a safe place for users to connect and interact with each other on Web3.0. Users can perform actions such as browsing someone’s NFT collection, making connections with others and chatting on the platform. Users on the platform will be authenticated through their ownership of the RhinoX token.
Interoperability across chains
In the latter half of 2023, the project intends to establish cross-chain interoperability to enable the transfer of data and values between RhinoX and other recognized NFT projects. This will open up new avenues for interaction and collaboration between Rh!noX and their partners who run multiple chains.
“These are difficult times for the NFT market, but there is a silver lining – we are being pushed to innovate and create a more sustainable environment for our RhinoX holders. We look forward to introducing the new features to our holders and we are happy to be the first platform to work towards this.” Chun said.
What’s next for RhinoX
RhinoX’s credit rating system is expected to go live in 2023 Q1. The system will be the basis for Rh!noX’s ecosystem, and will give rise to new NFT use cases and applications in the Web3 space.
About RhinoX
RhinoX is the first soul-bound token built on the BNB chain. It is set in a unique digital environment based on a credit rating system by implementing the Soulbound Mechanism where a RhinoX NFT acts as a Soulbound Token that reflects a user’s identity, credibility and social status.
RhinoX holders get access to exclusive features and benefits across the blockchain space, depending on their credit level. RhinoX aims to advance the practicality of NFTs and enhance global digitization, attracting both NFT and non-NFT enthusiasts by offering the benefits of a credible digital identity.
About BinaryX
BinaryX is the GameFi platform behind the metaverse games CyberChess and CyberDragonboth of which run on the BNB chain.
BinaryX began as a decentralized derivatives trading system. Recognizing the emerging popularity of GameFi and interest in the metaverse games, the team gradually evolved into developing decentralized video games, and is now transitioning to become a GameFi platform that provides IGO services to bridge Web2 developers to Web3.
As one of the top 10 projects in the BNB chain, BinaryX has more than 100,000 coin holders and 15,000 monthly active wallets. It is also one of the largest metaverse projects by trading volume on the BNB chain, with more than 300 million in market capitalization. BinaryX has a token $BNX that has consistently shown strong performance despite the bear market.
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BinaryX
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