Binamon Price

What Is Binamon (BMON)?

BMON is the principal token that powers Binamon™, a metaverse where people can use digital monsters to play, earn and have fun.

The Binamon metaverse (also known as the “Binaverse”) is located on a virtual planet, Planet Crypton, where you can earn in various ways: Farming/adding liquidity, battling, playing in the Binamon Firewars, adventuring on new planets, and collecting and trading NFTs.

NFTs are at the core of Binamon’s ecosystem, in which you can collect Genesis NFTs, Energy NFTs, and FUD cards which you can use across the Binaverse to earn BMON tokens. Apart from the NFT-based play-to-earn mechanics that power Binamon’s metaverse, the project aims to integrate virtual reality (VR) and artificial intelligence (AI) into the Binaverse.

While BMON is the core token on Binamon, there are three more tokens that players can interact with for a comprehensive NFT gaming metaverse experience.

BNRG is used to generate Energy NFTs that keep your Binamons energized. There’s also BMON-Z1, which is used to create Z1 Binamon monsters, and is automatically burned by a smart contract. Lastly, there’s the FUD token, a newer addition to Binaverse used to play a click-to-earn mini-game on Binamon.

Binamon Price

Binamon entered the market on June 15, 2021 at $0.016. Its price didn’t gain much traction until the beginning of July, when BMON jumped by 740% between July 14–20, reaching $0.42 on July 20. Thereafter, its price sank, plummeting to $0.088 in mid-August. But August would also prove to be the best month yet for BMON.

A week before the official launch of its play-to-earn game and Genesis NFTs, BMON rallied 823% to hit its highest price yet of $0.813 on Aug 23, 2021. Following this surge, BMON’s price corrected for most of September 2021, pumping slightly in the last week of the month.

In the last quarter of 2021, Binamon’s price formed a double peak at around $0.38 in September and November as the market remained bullish, especially for NFT tokens.

From December 2021, BMON began a gradual drop that extended into 2022, plunging its value below $0.015 in May 2022 following the Terra LUNA crash. Its price continued to decline in the following months, and by the start of 2023, BMON had fallen below $0.005.

What Is BMON Used For?

BMON is the primary currency powering the Binaverse. You can use it to buy Genesis Binamon NFTs and Binamon Crypton NFTs (or “Z1 Monsters”). However, as 100% of BMON tokens are burned in creating Binamon monsters, the cost of buying Binamon NFTs will increase as more NFTs are minted.

You can also stake BMON to earn more BMON tokens. BMON is also used for farming by adding liquidity to liquidity pools, in which the holder earns from the fees.

You also earn BMON tokens when you fight against other players in Binamon battles.

Binamon Tokenomics

Binamon had an initial max supply of 300 million tokens with a seven-year release schedule. However, as of March 16, 2023, the total supply stands at 228,619,895 tokens, since every time a Binamon monster is generated, 100% of those BMON tokens are burned, making the token hyper deflationary.

At launch, BMON tokens were distributed as follows:

• 17% — Seed round
• 22% — Private sale
• 20% — Staking pool
• 10% — Ecosystem development
• 11% — Liquidity pool
• 10% — Marketing
• 5% — Advisors
• 5% — Team

Who Is the Founder of Binamon?

Binamon was co-founded by Nicolas Veiga and Leonardo Perez.

How to Store BMON

You can store BMON tokens in MetaMask and Trust Wallet.