Binance Goes ‘Virtual’ As It Buys Property In Blockchain Game

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Binance (Courtesy: Twitter)
Binance (Courtesy: Twitter)

Binance has gone virtual as it announced that with its purchase of NFTs from the most recent Binance Launchpad project, they are exploring more social gaming experiences for our users.

We are buying 4,012 LAND NFTs in The Sandbox, the decentralized gaming platform that recently completed a $3,000,000 token sale on Binance Launchpad. We are making this purchase ahead of the gaming metaverse’s fourth LAND presale, scheduled for September 15, 2020.

What does this mean for Binance users? We will use the LAND assets we acquired to engage with our community through social gaming experiences within The Sandbox virtual worlds. We will organize future NFT (non-fungible token) creation contests, supported by VoxEdit and The Sandbox NFT marketplace.

We will also distribute the LANDs to creators who propose the most compelling games made with The Sandbox Game Maker, through a series of upcoming contests to be announced and ahead of the platform public (beta) launch in December 2020.

“It is clear that blockchain technology has great potential in the gaming industry. It provides significant improvements for gamers and developers, especially in regard to decentralization, transparency, and interoperability. Binance is taking a step further to demonstrate that blockchain technology can bring mainstream adoption into gaming through our collaboration with The Sandbox. Together we work on a brand-new field of entertainment that brings more freedom to players,” said Binance CEO Changpeng Zhao (CZ).

The Sandbox game franchise is one of the world’s largest independent user-generated content and gaming platforms, with 40 million downloads and over one million monthly active users. They are building a unique virtual world where players can build, own, and monetize their gaming experiences using SAND, the main utility token of the platform and the official token of the Sandbox, and Non-Fungible Tokens (NFTs). LAND is a non-fungible (ERC-721) NFT that represents a digital piece of real estate in The Sandbox metaverse. There are a limited number of LANDS, 166,464 in total, each with a unique location.

“Welcoming Binance into our metaverse is a significant step toward broader adoption of NFTs in the decentralized economy by the community of Binance users,” said Sebastien Borget, COO and Co-Founder of The Sandbox. “One of the greatest strengths of The Sandboxvirtual world is the fact that creators can build, own and monetize games alongside gaming giants such as Atari, Square Enix, and now Binance as well!”

The Sandbox has conducted four successful LAND presales in 2020, selling more than $1,500,000 worth of LANDS (ERC-721 NFTs). Most offerings finished within minutes to a few hours due to high demand. The last Presale 4 Round 1 introduced premium LANDS and ASSETS and sold out 75 percent of them in one hour on August 4, 2020. The upcoming Presale 4 Round 2 will be happening on September 15, 2020.