Cryptocurrency exchange Binance, announced that it was collaborating with Decentraland, a blockchain-based virtual world where users can create, experience and monetize 3D content. The project will start accepting Binance Coin (BNB) in an upcoming Land auction and users can take part in the event through Binance’s Trust wallet.
Interestingly, this will be one of the new use-cases of the BNB. In an earlier interview with the cryptocurrency exchange, Crypto-News India had touched upon the adoption of BNB and if it would be independent of the exchange. At the time, Ted Lin, the Chief Growth Officer (CGO) had said, “Given Binance is the most popular crypto exchange, and the Binance ecosystem is created to advance the adoption of cryptocurrency, we take it upon ourselves demonstrate the power and convenience of crypto through actively growing BNB use cases. Right now through selected partners, one can already use BNB to pay for exchange fees, consume through BNB enabled credit cards, buy real estates, pay for flights and hotels, and take out loans by using BNB as collateral, to name just a few.”
Lin had added saying, BNB is one of the most widely held cryptocurrencies in the market and can function independently of the Binance platform.
Commenting on the collaboration, the CGO said, “We are focused on the long-term growth of this industry and increasing the adoption of cryptocurrency is key. We are excited to partner with Decentraland to bring the value of BNB and Trust Wallet to the virtual reality world.”
A press release shared by Binance stated, that an equivalent of $30 million USD (more than 161 million MANA) was spent by users in purchasing virtual real estate during the first Decentraland LAND auction last January. For the upcoming LAND auction on December 10, 2018, more than 9,300 unowned LAND parcels will be available for purchase.
Ari Meilich, the Project Lead of Decentraland, said, “We are very excited to work with Binance and Trust Wallet. Decentraland is the first virtual decentralized platform owned and created by its users, and our goal has been to make Decentraland as accessible as we can. We are making a big push forward by integrating BNB, one of the most versatile tokens, with our LAND auction.”
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