Cryptocurrency News

Binance invests in LAND tokens within highly popular virtual game ‘The Sandbox’

  • Binance Launchpad project makes investment in LAND NFT’s (non-fungible-tokens) in blockchain gaming platform The Sandbox.
  • In this acquisition, Binance will focus on exploring more “social gaming experiences” for their users.
  • The Sandbox recently became only the 3rd blockchain project this year on the Binance launchpad with a $3 million token sale.

Binance Launchpad

Binance have reported an investment in the world of virtual gaming with a recent purchase of 4,012 LAND NFTs in the popular blockchain-based game The Sandbox.

The community gaming platform is no stranger to working with Binance having participated in the exchanges largest exclusive token launch platform this year in August to the value of $3 million.

This follows Binance’s support of two previous innovative blockchain projects in 2020 totalling $3.5 million – Indian Cryptocurrency Exchange ‘WazirX’ and DApp operating system ‘Cartesi’.

LAND Purchase

The Sandbox game is one of the world’s largest community gaming platforms with over 40 million downloads and 1 million active users. Players can build, own and monetise the game using the official token of Sandbox (SAND). LAND is a further sub-currency which “represents a digital piece of real estate” hence the name.

Discussing the in-game currency, the platform explained its role within the metaverse (virtual worlds):

“LAND is the epicenter of The Sandbox metaverse. LANDS are sandboxes that will allow you to: Play and create games, earn tokens, participate in the metaverse governance and host contests and events.”

The (ERC-721) token is currently promoting a fourth pre-sale scheduled for the 15th September and again – similar to previous sales which sold-out in just hours and totalled $1.5 million – is reporting high demand from their users.

Binance Users

Binance plans to use their acquired LAND tokens to engage deeper with their community by inviting them to engage in the worlds of social gaming within The Sandbox. This will be through creation contests, as well as token distributions for the best game creators within Game Maker platform following its beta launch later this year.

CEO of Binance and undisputed champion of crypto-twitter Changpeng Zhao (CZ) gave his insight into the potential impact of blockchain within the gaming space:

It provides significant improvements for gamers and developers, especially in regard to decentralization, transparency, and interoperability.

COO and Co-Founder of The Sandbox, Sebastien Borget added:

Welcoming Binance into our metaverse is a significant step toward broader adoption of NFTs in the decentralized economy by the community of Binance users.

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