Golden Bit - Project Summary

GBIT is a decentralized elimination style game built on Ethereum smart contracts that combines fair randomness with NFT trading mechanics. Players claim unique ticket NFTs representing positions on a 256-slot game board, with the objective of being the last remaining ticket holder to win the accumulated prize pool.

Game Mechanics

The game operates through a multi-round elimination system. Players initially claim tickets for free (gas fees only), with the game starting once all 256 positions are claimed. Each round lasts 15 minutes, at the end of which half of the active tickets are randomly eliminated using Chainlink VRF for provable fairness. Between rounds, players can trade tickets through an integrated marketplace, listing tickets for sale or making offers on others' positions. The game continues until only one ticket remains, with that holder winning the entire prize pool.

Market Mechanics - As the pot grows, so does the value of each ticket.

NFT tickets owned by players can be listed for sale or have offers created on them by other players. Offer amounts are held in escrow by the contract. If the offer is rejected, or canceled at the end of a round before elimination, the offer maker can retrieve their offer amount. This ensures accepting offers can pay the original ticket owner instantly and transfer ticket ownership without requiring additional verification. A certain percentage of ticket transfers are transferred to the pot - this is how the ultimate winners pot is built. More engagement leads to a higher prize pool.