- Attractive design with a nostalgic 8-bit charm.
- Good P2E (play to earn) potential through mini-games and tournaments.
- 100% usability of each NFT whether it’s a hotel room, character, furniture, accessory, art work or something else.
- Interesting social model enabling players to interact with each other and even form relationships.
- Different rarity and scarcity levels of NFTs, which will allow people to stand-out from the crowd in the metaverse.
- Owned rooms can be used as personal social hubs for one-to-one interactions and small gatherings.
- BTH can be staked to take part in the game’s governance and earn staking rewards.
- Healthy tokenomics to ensure stable and consistent growth in the future.
- Project backed by well-known names in the blockchain/crypto industry.
- Holding of frequent in-game events where people can mingle with each other and form new associations.
- An open marketplace will be launched wherein players will be able to easily trade their NFTs.
- The game is still in its nascent stages; will be officially launched in Q2, 2022.
- It’s played in a 2D metaverse which may not appeal to everyone.
Bit Hotel Token (BTH) in a nutshell
BTH is the native token of Bit Hotel, an NFT-based social Play 2 Earn (P2E) metaverse game. It’s a BEP-20 fungible token created on the Binance Smart Chain (BSC).
The players can use BTH for purchasing in-game NFTs that contain individual components of the game, including characters, accessories, furniture, hotel rooms, and more. These tokens can also be used for participating in Bit Hotel’s governance and earning staking rewards.
As the Bit Hotel game is yet to be officially launched, its market cap stood at a humble $27.5 million at the time of writing, with each BTH trading at $0.119. As per its roadmap, the game is expected to go live in the second quarter of 2022.
The Bit Hotel team successfully concluded their IDO (Initial Dex Offering) round recently, releasing 30 million BTH at a valuation of $0.017 per token.
The total maximum supply of BTH is 1 billion tokens, of which 230 million have already been released up till the conclusion of the IDO round. The break-up is as follows:
The private angel round, private seed round, and private A round involved allocations of 5% (50 million), 10% (100 million), and 5% (50 million) tokens respectively, from the total possible supply. The IDO round saw just 3% (30 million) of the total supply getting tapped.
A good chunk of the total tokens (60%) will be floated during the development, marketing, and team/operations phases. 2% of the overall supply will be locked for liquidity, while 5% each will be reserved for advisors, partnerships and staking (reserves).
Has Bit Hotel token been audited and doxxed?
There was no audit information available for the BTH token as of writing, either on the official website or any third-party portal. However, the Bit Hotel team actively posts project-related updates on multiple channels including their official website, Twitter, Youtube, Instagram, Medium, Discord, and Telegram.
Trust & Fairness: 4
Exchanges & Swaps: 4
Overall Rating: 4.25
A detailed review of Bit Hotel token (BTH)
The Bit Hotel metaverse game was conceptualized in mid-2021 and its official website went live in August 2021, alongside the whitepaper release, initial character graphics, and initial fundraising rounds.
The NFT GameFi project is backed by multiple well-known brands and advisors in the crypto and blockchain industry, including Ferrum Network, Enjinstarter, Duthc Game Studio, Lithium, Seedify, Solidity Finance, Trustpad, and more.
The basic idea behind Bit Hotel is to create and run an engaging online NFT-based social P2E game with an 8-bit nostalgic charm. As per Leon, the operational lead of Bit Hotel, the game was conceived to fill the social & community gap in the blockchain industry.
All the Bit Hotel players get their own in-game identity and individuality (in the form of NFT characters). They can purchase different types of NFT-based hotel rooms, furniture, artwork, accessories, artifacts, and more, for higher engagement in the game.
The rooms will be situated on different floors of the hotel. They’ll range from two-person rooms, family rooms, starter studios, comfortable studios, and extravagant studios to penthouse condos and suites. You’re free to furnish your room with the purchased NFT furniture and display your unique NFT collection in it. These residences can be traded in the Bit Hotel marketplace at any stage, whether pre or post-construction.
NFT Hotel Room Type: Extravagant Studio
NFT Hotel Room Type: Family Room
New character designs will be developed on a continuous basis and shared with the Bit Hotel community. Each one of these will come with distinct characteristics and rarity levels, enabling players to distinguish themselves from others. What’s even more exciting is that different characters can have in-game relationships, allowing one to merge their character with someone else, creating a new NFT of even higher rarity.
You can invite your friends into your rooms and host small gatherings too, thus utilizing your hotel space as a personal social hub. Other than that, there’s also the option to battle with other players in mini-games and earn token rewards as a result. Such wins will help players in getting featured on the weekly leaderboard that will list all the top players, who will then get rewarded with token rewards and rare NFTs.
There’s a two-token system prevalent in the Bit Hotel metaverse. While BTH is used for trading in-game assets and staking, there’s BHOTEL, which functions as the in-game token, earned by competing against other players in mini-games and other activities. The latter will provide access to various in-game activities and events, besides being redeemable for NFTs (quite like SLP tokens of Axie Infinity). The Bit Hotel team will hold NFT drops each month as well.
There will be numerous events hosted within the game wherein players can mingle with each other and form new associations/relationships, besides discussing new features and earning limited edition NFTs.
The Bit Hotel team also plans to sell clubhouses and conference rooms to various communities and DAOs, enabling them to organize IDOs (Initial Dex Offerings), host AMAs (Ask Me Anything), and other social events. Access to such rooms will be restricted only to members identifiable by certain NFT characters.
Each NFT in the game will have a rarity factor attached to it, which will determine its scarcity level and the benefits offered by it to the owner. The supply of every NFT will be increased accordingly with the increasing player base. Therefore, certain rarities will be owned by only a certain percentage of players, in order to maintain their ‘rare’ status.
There are six levels of rarities in the Bit Hotel game – common, uncommon, rare, super rare, epic and legendary. Each asset class offers certain utilities and perks based on its rarity level. For instance, the characters deliver earning bonuses, furniture helps in creating more income and rooms provide staking multipliers. You can even earn multipliers for renting out your room. Below provided is a chart that gives an insight into staking multipliers based on room rarity.
Bit Hotel will be playable on both mobile devices and desktop computers (within the browser environment). Lastly, this game will be made available in a free-to-earn model too, implying that one can play without the need of owning any assets.
Where to buy Bit Hotel token?
You can buy BTH from both centralized and decentralized crypto exchanges. However, considering that the project is still in its nascent stages and the game itself is yet to go live, there are limited options available for the token’s purchase as of writing. We were able to locate multiple well-known exchange platforms, as specified on CoinMarketCap, where you can buy BTH. These are MEXC, Bitmart, PancakeSwap, Bilaxy, and DODO.
While Pancakeswap and DODO are both decentralized platforms, Bilaxy is a centralized crypto exchange. The main difference between them is how they facilitate crypto purchases and the level of anonymity offered during the process. Decentralized exchanges (DEXs) are far more private compared to centralized exchange (CEX) portals. The latter are usually regulated by leading financial authorities and require users to comply with stringent KYC (Know Your Customer) processes to avail of their services.
You may be able to buy BTH with cash too, through peer-to-peer (P2P) platforms. In general, most exchange portals allow purchases with debit cards, credit cards, bank transfers, third-party wallets, and crypto deposits. However, the availability of specific payment methods and BTH per se will depend largely on the crypto regulations in your state/country of residence.
What can you do with the Bit Hotel token?
Hodl BTH for long-term investment: Considering how metaverse games are growing nowadays, especially after Facebooks’s rechristening as ‘Meta’, many investors are buying native tokens of these projects, as a long-term investment. You can buy BTH and hold onto it for the long-term, in the hope of booking handsome profits when its value appreciates in the future.
Buy in-game NFT assets: You can use BTH tokens to buy in-game NFTs that consist of individual game components such as characters, hotel rooms, accessories, furniture, and more.
Stake BTH: BTH can also be used for participating in the Bit Hotel metaverse’s governance and earning staking rewards.
Swap BTH with other cryptocurrencies: You may also be able to swap your BTH holdings with other cryptocurrencies at exchange portals. The swap will be executed at the listed exchange rate. The details of this process are provided below.
How to swap BTH with other altcoins?
In order to swap BTH tokens with another altcoin, visit a recognized decentralized crypto exchange like Pancakeswap, and connect your crypto wallet (Binance Coin wallet, Metamask, etc.) to the platform. Thereafter, select an appropriate trading pair you’d like to use for the swap, for example, ETH/BTH, BUSD/BTH, BTC/BTH, and BNB/BTH, followed by executing the transaction.
Please note, there may be a small transaction fee involved that should be factored in prior to executing the swap. The swapped tokens/coins will get credited to the same wallet.
How to buy BTH?
People normally buy BTH tokens on decentralized (DEX) or centralized (CEX) cryptocurrency exchanges. The former are easy to use, offer higher privacy, and involve no KYC formalities. We’ve already covered the token swap process on a decentralized exchange, above.
In order to purchase BTH on a centralized crypto exchange, you’ll need to first register with the platform, deposit funds (in fiat or crypto currency), and complete KYC formalities as mandated by the authority regulating that platform. Below you can see the steps you’ll need to take to buy BTH on a CEX:
- Visit the centralized exchange where BTH is listed and begin the account-opening process by clicking on the ‘Register’ button.
- Enter your full name, email address, phone number, and country of residence. You’ll also need to input a preferred password that will be used for future account logins.
- Click on the provided button to agree with the platform’s terms and conditions. A verification message will soon arrive on the provided email id.
- Either click on the provided link/button in the email or use the verification tab (on the platform’s dashboard) to begin the KYC verification process. It will entail the upload of certain documents such as a government-issued photo ID and a separate proof of residence. Please note, this is a necessary step for screening any unwanted elements and keeping the trading platform safe for everyone.
- Your exchange account will get activated soon after completing the above-specified verification formalities. Now you can deposit funds in the form of cryptocurrencies and/or fiat currencies supported by the platform. Most of the centralized exchanges accept credit/debit cards, third-party payment processors, and bank transfers for fiat deposits.
- You can go ahead and buy BTH using a trading pair of your choice, for instance, BTH/BNB, BTH/BUSD, BTH/ETH, BTH/BTC, and so on.
As of writing, Bit Hotel was gearing up for its first-ever Initial Room Offering (IRO) in collaboration with the next-gen Babylons NFT marketplace. Half of the hotel room NFTs will be offered in BTH (at a 25% discounted rate) and the remaining half in BUSD (Binance USD). The offered real estate will include various options ranging from humble two-person rooms to penthouse condos and suites. Each one will have a different rarity level (as explained earlier in the review).
As detailed in the game’s roadmap, Bit Hotel’s beta version release, availability of Play4NFT rewards and public game testing will all happen during the first quarter of 2022. The second quarter of the year will witness the actual game launch accompanied by monthly updates.
BTH was trading at $0.115 at the time of writing this review (Source: CoinMarketCap). It’s all-time high price (ATH) was $0.24 on Dec 30, 2021, while the all-time low (ATL) was $0.06, a day earlier, on Dec 29, 2021. This shows a sharp 400% spike within a 24-hour time period. Experts believe that BTH price may appreciate significantly in the future once the game gets formally launched. You can check the token’s current trading price on reputed portals like CoinMarketCap and CoinGecko.