BinaryX (old), also known as $BNX, is the native cryptocurrency of the BinaryX ecosystem. This ecosystem encompasses a range of products and games that utilize $BNX, as well as a DAO governance system. Initially, BinaryX started as a decentralized derivative trading system, but with the growing interest in GameFi and metaverse games, it has evolved into a GameFi platform. BinaryX seeks to provide IGO services to bridge Web2 developers to Web3. The platform provides infrastructural support and community building to scale gamefi projects, thereby aiming to bring more innovation to the blockchain gaming sector.

BinaryX (old) operates as a GameFi platform, focusing on creating a sustainable economic model for its games. It has developed CyberDragon and CyberArena, two games on the BNB Chain. In addition, BinaryX launched CyberChess in September 2022, an auto battler strategy game that signifies the transition from play-to-earn, to play-and-earn. BinaryX also seeks to become an IGO platform that provides a suite of solutions to incubate, enable, and empower aspiring GameFi developers. It offers tailored resources for developers facing challenges in their project runway.

BinaryX (old) has a wide range of potential use cases, primarily in the GameFi industry. It is used within the BinaryX ecosystem, which includes games like CyberDragon, CyberArena, and CyberChess. These games offer players the opportunity to receive compensation while they play. Furthermore, BinaryX seeks to serve as an IGO platform, providing a suite of solutions to support aspiring GameFi developers. This includes infrastructural support, community building, and tailored resources to overcome project hurdles.

BinaryX (old) was backed by a well-known blockchain incubator, with its development team remaining anonymous. The team comprises individuals with international backgrounds and senior blockchain experts, some of whom have experience in building centralized and decentralized platforms and managing derivative assets of over $100 million. BinaryX started as a decentralized derivative trading system and gradually evolved into a GameFi platform due to the rising popularity of GameFi and metaverse games. In September 2022, BinaryX launched CyberChess, marking a milestone in its transition to a GameFi platform.