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Binance Coin [BNB] Can Be Used in Decentraland Virtual LAND Auctions, Under New Collaboration

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Binance cryptocurrency exchange logo on phone with bitcoin ripple litecoin and ethereum. Copenhagen / Denmark - 08 04 2018.

Decentraland and cryptocurrency exchange Binance have partnered to explore blockchain-driven gaming innovations. Now, Binance Coin holders can use their coins via Trust Wallet to participate in Decentraland’s auction for virtual world spaces.

Supporting Gaming Innovation

Blockchain companies are gradually moving into the gaming space. Everdragons recently announced that they would be arriving on the Tron blockchain soon, after having worked on both Ethereum and POA. Binance, one of the largest cryptocurrency exchanges in the world is now supporting blockchain-driven gaming initiatives.

Under a new collaboration with Decentraland, BNB coin will now be used for auctions of LAND or virtual land parcels. The official wallet of Binance, the Trust Wallet can be used to participate in the LAND auctions. Users can do so by searching for these auctions on their built-in dApp browser. The auction is set to begin on December 10 and Trust Wallet users can also win MANA and LANDs prizes. Binance is also planning to host a few events related to Decentraland.

Binance’s Upcoming Decentraland Events

The exchange will first host a trading competition for MANA, the native token of Decentraland. The competition will run from December 4 to December 11. The winner of the competition will get a Binance-branded virtual LAND parcel, and a total of 1.875 million MANA will be distributed among top traders.

The second contest will reward users who spend the maximum during the LAND auction using the Trust Wallet. The winner of the competition will get a LAND parcel worth 100,000 MANA. Second place will get a LAND parcel worth 50,000 MANA, third place will receive a LAND parcel worth 20,000 MANA, and the fourth place will get a LAND parcel worth 15,000 MANA. Also, 50 users who use Trust Wallet to buy LAND will even get a chance to win 10,0000 MANA each.

Decentraland’s MANA tokens, designed with ERC20 standards, were listed on Binance a year ago. This new collaboration will help to create a new use case for BNB and allow Binance to expand into new opportunities with blockchain gaming.

Binance wrote:

“To further integrate the Binance ecosystem into the virtual world, the auction can be accessed through the dApp browser of our Trust Wallet, once again proving that the crypto wallet app is at the forefront of pushing for the adoption of blockchain technologies.”

Binance Coin [BNB] Can Be Used in Decentraland Virtual LAND Auctions, Under New Collaboration was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.