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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

NFT Collecting Game Chainbinders by Doki Doki Raises $5 Million in Under Two Hours

April 13, 2021 GMT

ROME, April 13, 2021 /PRNewswire/ -- Chainbinders, the world’s first liquid NFT collection backed by a reserve pool of Ethereum, raised over $5 million in first two hours after the start of sale of their native BND utility token, with $3.8 million raised in just 15 minutes as part of the liquidity generation event (LGE). The total amount of funds raised on the first day of LGE exceeded $6.5 million due to the project’s high production quality, innovative game-theory mechanics, and hyper-deflationary tokenomics.

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Chainbinders is the latest NFT product by Doki Doki DeGacha, a gamified NFT platform inspired by the popular Japanese Gachapon ( ガチャポン), where players receive random collectibles from vending machines.

“Chainbinders is part game theory, part art collecting, part gacha, and part anime. It’s got elements of things ranging from Final Fantasy to Nier:Automata. We’re creating original IP and characters (a massive cast of 15 of them!), giving them each their own backgrounds, lore, stories, motivations, and then gamifying them on the marketplace with some clever token mechanics to make sure these NFT’s have instant liquidity and actual value.” - Roy Blackstone, Creative Director at Doki Doki.

The story takes place in a post-apocalyptic world with 15 unique characters called Chainbinders, who acquire mystical powers that have allowed them to survive after chaos gripped their homeworld. The Chainbinders seek their Collectors – individuals with the ability to restore the characters to their full strength. According to the team, over 50 experts including artists, writers, musicians, and developers were involved in game production.

The Chainbinders Gacha machine will feature over 100 original and limited edition NFTs ranging from characters, weapons, and artifacts from the Chainbinders universe. This includes the 15 Legendary rarity Chainbinders, each of whom has their own lore, support items, and backstories.

The BND tokens distributed through the sale will be used for playing Chainbinders, which will be hosted on Doki Doki’s DeGacha platform. BND spent to play the Gacha machine will be burned forever, making BND a hyper-deflationary token.

According to the blog post, 75% of the total ETH raised will be sent to the Reserve Pool that backs the value of every Chainbinders NFT card. The NFTs have on-demand liquidity and can be burned to redeem ETH from the pool. This redemption process pays back a portion of Ethereum to remaining holders, which in turn makes other NFTs in the collection increasingly valuable and scarce over time.

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After the sale, the BND tokens will be transferable and available for in-game use. More than 1 million tokens worth a total of $6.5 million have been minted so far.

About Doki Doki & DeGacha

Chainbinders is the latest NFT product by Doki Doki, the team behind DeGacha, a gamified NFT platform inspired by the popular Japanese Gachapon, where players play to receive random collectibles from vending machines.

Chainbinders Website: https://chainbinders.degacha.com/

Chainbinders Twitter: https://twitter.com/Chainbinders

Doki Doki Website: https://degacha.com/

Doki Doki Twitter: https://twitter.com/dokidokifinance

Telegram: https://t.me/ddnfa

YouTube: https://www.youtube.com/channel/UCHKQaCYkq3zuHOi77aJ3cUA

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SOURCE Chainbinders