Bunicorn elevates traditional games with a decentralized finance touch and will release its debut play-to-earn nonfungible token game at the end of August.
The gaming industry is currently valued at over $162 billion today and is expected to surge to $295 billion worldwide over the next five years. And just recently, Tencent, China’s largest Internet company, is getting ready to enter the nonfungible token space with specific reference to music, gaming and more.
With the rise of blockchain gaming and venture capital interest within this sector, the Bunicorn team aims to position itself as an innovative gaming and decentralized finance (GameFi) platform with the release of its play-to-earn NFT role-playing game. The game will be the first in the Bunicorn Universe to be conceived as a fictional universe and revolves around the hunting and training of fantastic creatures named Bunicorns. The game players may enter a battle using their trainers and Bunicorns to earn Bunicorn (BUNI) tokens. Each Bunicorn character is an NFT minted in the ERC-721 standard and transferable in the marketplace.
The team designed Bunicorn to utilize a play-to-earn model inspired by CryptoBlades, another NFT crafting game where players can defeat enemies with powerful weapons to earn their native tokens. In the Bunicorn game, BUNI is distributed through gameplay and gives value to player NFTs, increasing adoption for future features.
Later versions of Bunicorn will allow users to buy land and colonize Buniland with different game-plays, including player versus player, player versus environment, and a raid boss while fighting with legendary Bunicorns and monsters in the universe, similar to Decentraland and early NFT games such as CryptoKitties.
To add more fun to the yield farming activity, players can add liquidity with their assets on the Bunicorn exchange not only to earn BUNI but also to claim exclusive Bunicorn Eggs NFTs. The utility of these can be employed by players battling or trading their NFT cards with other players on the Bunicorn marketplace and other stakeholders, helping to increase the value of these NFTs further.
The gaming ecosystem is one of the promising avenues for more robust NFT adoption and has been heating up since the NFT boom that happened this year. Axie Infinity is a prime example of how gaming is the most ideal approach that helps blockchain reach mass adoption. It has hundreds of thousands of members from all around the world following and playing the game. Since July, AXS, the native token for the Axie Infinity gaming platform, has surged past the $30 price, registering over 5,700% in price appreciation year to date.
Bunicorn, with its recent total value locked reaching $28 million and backed by some of the industry’s top investors such as Signum Capital, Kryptal Group and Magnus Capital among others, hopes to drive interest in blockchain gaming and DeFi through its latest play-to-earn NFT role-playing game just like Cryptoblades and Axie Infinity.