The new ERC-20 token will offer interoperability with other Animoca Brands platforms
Benji Bananas came to the spotlight as the latest play-to-earn adventure from Animoca Brands. The game boasted it will reward players with APE tokens, when the official Bored Ape Yacht Club token first dropped. Now, it seems Animoca Brands is moving in a slightly different direction by seeking interoperability with its other gaming products through the newly introduced PRIMATE token.
Summary:
The Animoca Brands team introduced PRIMATE in a Twitter announcement earlier today. The token has already been deployed on the Ethereum mainnet, and has a total supply of 2,060,000,000 PRIMATE tokens. Importantly, in order to take part in the PRIMATE play-to-earn mechanics in the game, players have to obtain a Membership Pass NFT.
Benji Bananas introduces play-to-earn
Benji Bananas started out as a free-to-play mobile platform initially launched back in 2013. The goal of the game is to hop between lianas and collect as many bananas as possible. In March 2022, Animoca Brands decided to take things further, and introduce play-to-earn mechanics to the platform.
These functionalities were announced at the same time as Bored Ape Yacht Club launched its much anticipated native token APE. Animoca Brands, being an investor in Yuga Labs and ApeCoin DAO, connected the two products and released the Benji Bananas Membership Pass NFT. The pass unlocks play-to-earn functionalities in the mobile game, and initially, players earned the newly launched APE token.
A month or so later, Animoca Brands is introducing a major change to this play-to-earn mobile game. While APE will still play a central role on the platform when it comes to liquidity, Benji Bananas will now have a new rewards token called PRIMATE.
Importantly, primary sales of Membership Passes will still happen in APE tokens. This is an important detail, as one of the main liquidity pools providing stability to the new PRIMATE token will be with APE. Most of the APE tokens in the pool are generated through primary sales of NFT passes. You can read more about the Benji Bananas Membership Pass here.
PRIMATE interoperability
One might wonder why Animoca Brands introduced a completely new token. Especially when Benji Bananas had already started paying out APE rewards. The answer is interoperability.
Animoca Brands has a vast portfolio of other gaming products, most of which have play-to-earn functionalities and their own in-game tokens and economies. With the launch of PRIMATE, Benji Bananas creates a stronger bond with the overall Animoca Brands ecosystem.
According to the official announcement, one of the main goals of PRIMATE will be to allow players to swap their rewards for other Animoca Brands gaming tokens. These include assets like The Sandbox’s SAND token, REVV Racing’s REVV token, and Arc8’s GMEE.
This interoperability is an important factor in strengthening the overall performance of tokens across the entire Animoca Brands portfolio of games. What’s more, it will allow Benji Bananas players an easy entry point for other Animoca Brands games.
DappRadar will continue monitoring Benji Bananas and Animoca Brands as PRIMATE rewards start flowing in. If you want to learn more about the other gaming products in Animoca Brands’ portfolio, check out the links below. What’s more, if you have a DappRadar PRO membership, you’ll be able to get the most up-to-date on-chain data for all these games in a single place.
