Cryptocurrency giant Binance has acquired virtual space on The Sandbox blockchain gaming platform by purchasing 4012 LAND tokens, each of which is a non-exchangeable token representing a piece of virtual property unique to the Sandbox metaverse.
Sandbox Virtual World allows users to own, create and monetize the gaming experience using the ecosystem tool source code, SAND, and COUNTRY codes.
Binance plans to use its LAND to host social gaming events such as NFTs and Sandbox game creation contests, and reward the best contestants with LANDS.
Scheduled for a public beta release in December 2020, Sandbox has so far organized four pre-sales of LAND and sold around $ 1,500,000 tokens. Demand for Metaverse and the NFT gaming platform has skyrocketed since the first token sale, selling 3,000 LAND items in four hours. The next three advance sales generated similar interest as most tokens were exchanged within the first few hours.
As Cointelegraph previously reported, the main buyers of LAND in the pre-sale period were popular crypto companies such as CryptoKitties, My Crypto Heroes, Old Skull Games and Dapp.com.
Game giant Atari is also a Sandbox partner and creates blockchain versions of classics such as Asteroids, Centipede and Pong.
Named one of the most anticipated blockchain games, Sandbox already has 40 million downloads and over 1 million active users every month. Sandbox also recently completed a $ 3 million fundraiser on Binance Launchpad.
The platform now expects to increase the distribution of blockchain and NFT games by utilizing Binance’s large user base.