Chumbi Valley (CHMB)

What Is Chumbi Valley (CHMB)?

Chumbi Valley (CHMB) is a blockchain-based role-playing game built on Binance Smart Chain (BSC) and Polygon. Binance Smart Chain (BSC) is a parallel chain that operates smart contracts on the Binance exchange. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in protocols on the blockchain. 

Chumbi is a pretty non-fungible token (NFT) creature that settles in a dense and mysterious forest valley. All in-game items and creatures are tokens and NFTs powered by blockchain technology. According to its whitepaper, the network aims at establishing Chumbi Valley as a leader in this revolutionary gaming space.

Further, CHMB is the native token of Chumbi Valley that is intensely connected to the game’s ecosystem. The CHMB token is deflationary. The platform aims to incentivize the players to hold the token, seeking to force natural price growth. Furthermore, the CHMB token aims to serve the following vital utilities:

• CHMB serves as the primary form of in-game currency, where players need CHMB to pay for new Chumbi, breeding fees, Sage fees, and many more. 

• The token finally delivers holders with the chance to participate in the future directions of the game actively. The project shifts gradually from an initial chaperoned system to a fully decentralized online game. 

• The platform seeks to allow CHMB holders to participate in governance voting as part of an approaching decentralized autonomous organization (DAO)  to shape the destiny of Chumbi Valley. 

• As holders lock their CHMB token, they aim to reduce the circulating supply and are rewarded with additional CHMB considering their Chumbi’s satisfaction level.

History of Chumbi Valley (CHMB)

Aisha Venables founded Chumbi Valley. Venables works as a chief executive officer (CEO) at Chumbi Valley. The Chumbi team includes Nikki Druiven, a lead artist, Claudia Tigani, a game artist, and Oscar Cerda, a concept artist. Kieran Brumby and Kristie Vandevelde lead the business development team, whereas Ash WSB, Allan Ta, Ritam Gupta, Kevin Abdulrahman, and Leo Ngo serve as the advisers at Chumbi. The platform released its whitepaper on June 1, 2022.