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Binance buys virtual real estate in blockchain game The Sandbox

8 Sep

Binance buys virtual real estate in blockchain game The Sandbox

Binance has bought virtual real estate in the leading blockchain game The Sandbox.

The Immediate Edge cryptocurrency exchange has bought 4,012 LAND tokens. These are non-fungible tokens, each representing a piece of a unique, virtual property in The Sandbox’s metaverse.

In doing so, the exchange has also acquired a virtual space within the blockchain gaming platform The Sandbox

The Sandbox’s virtual world gives its users the ability to own, create, and monetize their gaming experiences. For this purpose, the company’s own usage token of the ecosystem called SAND and LAND token are used.

Binance plans to use its LAND tokens to organize social gaming events, such as competitions related to NFTs and games within The Sandbox’s platform, and to reward the best developers of the competitions with LANDS.

The Sandbox plans a public beta in December 2020 and has so far organized four LAND pre-sales and sold tokens valued at nearly $ 1.5 million. Demand for the metaverse’s gaming platform and real estate NFTs has increased since it first sold 3,000 LAND tokens in four hours. The next three pre-sales generated similar interest. Most tokens were exchanged within the first few hours .

As Cointelegraph reported , the buyers of LAND tokens during the pre-sales were mostly well-known crypto companies such as CryptoKitties, My Crypto Heroes, Old Skull Games and Dapp.com

The gaming giant Atari is also a partner of The Sandbox and creates blockchain versions of classic games such as Asteroids, Centipede and Pong.

the Sandbox is one of the most anticipated blockchain games and has already had 40 million downloads and over 1 million active users per month. The Sandbox also recently held a $ 3 million fundraiser on Binance Launchpad.

Now the platform hopes to be able to promote blockchain games and NFTs through the large number of users on Binance.