What is Genopets (GENE)? Bybit Launchpad starts third project for BitDAO owners (BIT)

Exchange Bybit announces third project on Launchpad with Genopets (GENE). Users can get GENE tokens by setting a certain amount of BitDAO (BIT) based on the average daily BIT balance (within 5 days from 12/11 to 11/17) on the Bybit account.

If you don’t have a Bybit account, please register here and KYC to join the program.

What are Genopetes (GENE)?

Genopets is a free-to-play and move-to-earn NFT game based on the Solana blockchain that helps players lead a more active and enjoyable lifestyle. Genopets combines the running data of users from their mobile and portable devices with the play-to-earn economy of the blockchain so that players can earn tokens to take real actions and turn them into a profit.

New concept “Move To Earn”

Move-to-Play + Play-to-Earn = Move-to-Earn Gaming (Move to Earn).

With a real-life running pattern to earn game currency, Genopets uses data captured from smartphones or fitness wearables to improve the Genopet NFTs of the players in the game.

Players must maintain, battle, and develop Genopet NFT to increase its value with every step they take in real life, and then sell it to other players for profit in the market.

The team coined the concept of “move-to-play”, which means that Genopets converts the real movements of the player in the game into XP. Genopets replaces traditional games with seated, mostly keyboard input, by examining the physical activity of players during the day. The game progress of a player is now dependent on the physical activity of this person, which can be traded as NFTs at market value, whereby an NFT gaming experience “move-to-play” is the first in the world.

Investors

Genopets raised $ 8.3 million in a seed round to connect the physical and digital worlds with move-to-earn NFT gaming. The Seed Round is jointly led by Konvoy Ventures and Pantera Capital, with the participation of Alameda Research, Old Fashion Research, Solana Capital, Xoogler Ventures, Mechanism Capital, Collab + Currency, Spartan Group, Hyper, CMT Digital, Animoca Brands, DeFi Alliance, CMS Holdings, Yield Guild Games and GBV Capital among other mutual funds.

Angel investors from the crypto, gaming and sports sectors also attended, including Prabhakar Reddy (Co-Founder of FalconX), Kevin Lin (Co-Founder of Twitch), John Robinson (President & COO 100) Thieves), Brian Corrigan (VP and Head of) Americas Division of PUBG Corporation), Keisuke Honda (Japanese soccer player) and Melanie Strong, a 19-year-old Nike veteran.

Token information

• Name: Genopets (GENE)
• Total supply: 100,000,000 GEN
• Total allocation: 250,000 GEN (0.25% of the total offer)
• Maximum CAP per user: 500 GENE
• Price: 1 GENE = $ 0.8 (The price between BIT and GENE will be confirmed before the registration period)
• Format: Register
• Commitment token: BitDAO (BIT)

ByBit Launchpad

Snapshot time (snapshot): 7:00 am (Synthetic Team time) November 12th to 6:59 am November 17th.

During this 5-day period, the average daily amount in your account (which can still be used on Launchpool for interest without having to be removed) is recorded via hourly snapshots. The report is updated daily at 10:00 AM.

Registration period (commit): From 3pm on November 17th to 2:59 pm on November 18th.

You must click the “Commit Now” button to commit certain BITs to the project during this subscription period. The amount of BIT that can be committed depends on the average daily BIT balance in your account for 5 days. Please note that the amount you have promised will be blocked and will only be accessible for transfer, payout or trading after the token has been distributed.

Delivery time: From 3:00 p.m. on November 18 to 4:59 p.m. on November 18.

Calculation: Assigned GENE = (number of BITs you committed / total number of BITs used by all participants) * total amount of GENE assigned to the project. Up to 500 GEN per person, no matter how much BIT storage volume (This is beneficial for the fry).

Based on the result of the GENE assignment, the corresponding BIT amount will be deducted from your pledged amount, while your GENE assignment and the remaining BIT will be returned to the Spot account. After that, you can continue to deposit into Launchpool to receive daily interest.

Recording time: The GENE / USDT pair trades at 6:00 p.m. on November 18.

If you don’t have a Bybit account, please register here and KYC to join the program.

Bao Cong

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