What Is Onyx (ONYX)?
Onyx is a play-to-earn game developed on the Binance Smart Chain (BSC). The project seeks to be a worldwide game that expands across the seven continents. The game is developed using high-end graphics and 3D technology. According to the website of the asset, the project’s mission is to provide users with an opportunity of earning while playing the game. Further, the game features a huge range of NFTs and customizable in-game characters that players can use to play the game with their friends. Besides this, the game also aims to provide players the provision for earning different types of NFTs within the game. In order to ensure the smooth functioning of the game’s ecosystem, along with an opportunity of earning for the players, the Onyx project uses its native cryptocurrency, the ONYX token.
The ONYX is a community-driven token launched using the Binance Smart Chain’s blockchain network, represented as the BEP-20 token, ONYX. The BEP-20 is a standard token of the Binance Smart Chain that allows extension for the ERC-20 token. Further, according to the blackpaper of the token, ONYX seeks to serve many utilities within the Onyx project’s ecosystem, which are as follows:
The token can be used for staking in the project to seek to generate passive income.
ONYX token can be used for purchasing NFTs within the game.
The token is also used to seek to reward gamers on the platform.
ONYX token is also used for marketing, promotion, development, and improvement of the game.
The token is used for the collection of taxes against trading that takes place within the Onyx ecosystem.
These utilities of the token aim to help maintain an organized and a proper functioning environment within the Onyx ecosystem.
History of Onyx (ONYX)
The Onyx project is named after the gem of Saturn, the planet of Karma. The project is headed by FIL – CMO, MICHA – CEO, XANDER – CCO, and NIGHTY – CDO of Onyx. The token of the project was launched on November 16, 2021. Further, according to the contract address available on the blackpaper of the token, the token has a maximum total supply of 1,000,000,000 ONYX.