Cryptocurrency exchange Binance has announced the purchase of non-fungible tokens (NFTs) from its most recent Launchpad project, opening the door to more social gaming experiences for users.
According to a release published September 7, Binance is buying 3,012 LAND NFTs in The Sandbox, a decentralized gaming platform that recently concluded a $3 million token sale on Binance launchpad. The purchase is set to occur ahead of the game’s fourth LAND presale, scheduled for September 15.
The release claims Binance will use LAND acquisitions to engage with their community through “social gaming experiences” with The Sandbox world, including the organization of future NFT creation contests.
Binance also intends to distribute LANDs to creators who propose the most compelling game designs via The Sandbox Game Maker. The release teases a series of upcoming contests to be announced ahead of the public beta launch in December 2020.
Binance CEO Changpeng Zhao acknowledged the importance of blockchain gaming as a pillar of the industry.
He said,
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.
He continued, saying Binance intended to work with The Sandbox to offer more freedom to gamers and explore the new field of blockchain entertainment.
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