What Is GameX (GMX)?
GameX (GMX) is a three-dimensional, virtual gaming platform that runs on the Binance blockchain and uses the mainnet for processing transactions. A mainnet helps process secured transactions on a blockchain. GameX, the token offering of the platform, is an NFT token and operates on the P2E mechanism.
The play-to-earn or P2E is a method where the players can collect rewards on playing a game. Additionally, the GameX platform aims to manufacture games and gaming products for the platform. The users aim to utilize the GMX tokens to get the gaming products on the platform.
According to the whitepaper, the platform aims to connect the worlds of crypto and gaming into one. The GameX platform also publishes an online newspaper with subjects related to gaming and cryptocurrency. GameX aims to operate as a reflection token and an 8% slippage from which 2% is given to the holders. Additionally, 2% goes to token burning, and the rest of 4% is segregated for other purposes. A reflection token is one wherein the transactions are taxed, and a percentage is distributed to the token holders. Token burning is when a percentage of the token is withdrawn from the market to moderate its value. The platform also uses smart contracts to make transactions secure.
The GameX platform aims to develop a three-dimensional game on the blockchain and a 3D newspaper for the users. Additionally, the FAQ on the website outlines the aims and plans for the 3D game.
History of GameX (GMX)
The GameX platform and the concept is the product of Elie Ziade, the founder and the CEO. George Skaff is the chief operating officer, while Ghassan Fares is the CCO and PRO for the platform. An eleven member team is behind the GameX concept and the platform. The launch of the GameX (GMX) platform was in 2021. The roadmap lists out the goals for 2022, including the first quarter.