Cocos Blockchain Expedition, or Cocos-BCX (COCOS), is a platform built to cash in on GameFi, or Game Finance.
To explain, GameFi is decentralized finance (DeFi) for gaming. They build Cocos-BCX to serve as a bridge between gaming and blockchain. Uses of Cocos-BCX include incubation, investment, distribution, community building, and finance of games.
Cocos-BCX is a decentralized autonomous organization (DAO) that finances and administers blockchain game projects. As a DAO, Cocos-BCX is owned and governed by the holders of the Cocos-BCX (COCOS) token.
One of Cocos-BCX’s principal activities is initial game offerings (IGO). In IGO is an initial cryptocurrency offering (ICO). In an IGO, people finance a game by purchasing a cryptocurrency that serves as the game’s governance token. Holders can trade IGO tokens on decentralized exchanges and marketplaces like other cryptocurrencies.
How Cocos-BCX (COCOS) enables GameFi
They call Cocos-BCX (COCOS) the Ultimate GameFi Enabler. Cocos-BCX serves an incubator that finances new gaming projects.
As an incubator Cocos-BCX provides technical support for game builders and money. For example, Cocos-BCX will employ professional engineers to build smart contracts and token economy infrastructure for games.
IGO token holders can finance the game through staking, mining, and yield farming. In some games, players can earn IGO tokens by playing the game. However, most IGO tokens are crowdfunding mechanisms.
Cocos-BCX (COCOS) Staking
To encourage GameFi investment, Cocos-BCX provides two kinds of staking, dividends and nonfungible tokens (NFTs). Interestingly, Cocos-BCX claims to offer IGO tokens that pay dividends in COCOS.
Cocos-BCX will promote long-term staking by placing $120,000 equivalent in a rewards pool for monthly incentives. Long-term stakers can stake tokens as a nonfungible token (NFT). They claim NFT staking offers stronger governance rights.
Hence, Cocos-BCX can offer game developers advanced features such as protocol-driven burns, token bugybacks, staking incentives, dump penalties, and decentralized apps (DApps). The hope is to help crypto startups to build a financing framework.
Investors can stake BEP-20 COCOS to obtain an investment in the project. To elaborate, BEP-20 is a token standard that extends the BNB Smart Chain (BNB) to ERC-20 Ethereum tokens. Hence, BEP-20 integrates Ethereum with Binance.
All Cocos-BCX members can invest in IGOs. Members can win lotteries in membership levels. They will reward members who refer new investors or members tokens as commissions. IGO drawings will reward Cocos-BCX.
Cocos-BCX members get high a higher membership level if they contribute more computing power. Users stake Cocos-BCX by providing computing power to support GameFi projects.
NFT stakers get computing power through five types of NFTs. Each Cocos Staking equals computing power.
Marketing and Distributing Games
Cocos-BCX (COCOS) will also market and distribute games. A unique service Cocos-BCX offers is the building of gaming communities. Hence, Cocos-BCX serves a launchpad for new blockchain games.
Cocos-BCX members and stakers can receive 10% of membership fees as a Cocos Commission. People who invite new members to Cocos-BCX can receive 10% and 8% in communities. They will use 1% of the purchased amount as a rebate reward.
Users can create a team that builds games and Metaverse projects in Cocos-BCX (COCOS). You can reward team members with COCOS. Team members can receive dividends and stake NFT. Team members can also participate in dividend mining on Cocos-BCX.
To finance games, they hope to issue $2.1 billion in COCOS to finance Cocos-BCX through Binance. In addition, they hope to create a Total Supply of of 100 million COCOS.
They claim there were 1,938 Cocos-BCX ERC20 addresses, 16,087 Cocos-BCX BEP20 addresses, and 8,586 Cocos-BCX CocosNFT addresses on 21 November 2021.
However, I only found two games, Land of Conquest and TAP Coin (TAP) listed under ongoing projects on Cocos-BCX’s launchpad on 28 November 2022. TAP Coin is a cryptocurrency associated with the TapTap Fantasy game. Lands of Conquest is a massive-multiplayer online game set in a post-apocalyptic wasteland.
What Value Does Cocos-BCX (COCOS) offer?
Mr. Market thinks Cocos-BCX (COCOS) offers some value. For instance, Cocos-BCX was CoinMarketCap’s 11th most trending cryptocurrency on 28 November 2022.
Conversely, Cocos-BCX (COCOS) was CoinMarketCap’s 391st ranked cryptocurrency with a 58.42₵ Coin Price on 30 November 2022. CoinMarketCap gave COCOS a $39.060 million Market Cap, a $58.445 million Fully Diluted Market Cap, and a 24-Hour Market Volume of $8.872 million on 30 November 2022. The Centralized Exchange Volume of COCOS was $85.871 million on30 November 2022. They base those numbers on a Circulating Supply of 66.861 million COCOS, a Total Supply of 66.861 million COCOS and a Maximum Supply of 100 million COCOS.
In contrast, Cocos-BCX (COCOS) was CoinGecko’s 430th ranked cryptocurrency with a Coin Price of 58.47₵. CoinGecko gave Cocos-BCX a $41.385 million Market Cap, and a $6.805 million 24-Hour Trading Volume on 30 November 2022. They base those numbers on a Circulating and a Total Supply of 70.812 million COCOS.
 make money from GameFi?){kind=link}