Portals appears to be baiting projects to the metaverse as Binance.US joins the crypto projects staking their claim on the blooming metaverse space. Like DeFi and NFTs were the bait of the crypto space in 2021, the metaverse will be the point of attraction this year.
Metaverse is a virtual world that enables people to relate as they would have done traditionally. Global brands are also becoming more interested in the metaverse trend. Firms like Walmart, Disney, and sporting footwear firm Nike are constructing buildings on the metaverse.
Each intends to have their business niches covered in the blooming space. All of these happened after social media behemoth Facebook underwent a major rebrand and became Meta in a broader effort to lead metaverse-based apps.
Binance.US Builds on Portals
Portals, a metaverse project which runs on the Solana blockchain, has emerged as a likely destination for projects looking to launch on the metaverse. As a result, Binance.US, a crypto exchange platform, announced its plan to build a digital space on Portals. The exchange platform plans to use its new building as a hub for virtual crypto-based events, news, and charts.
Projects rushing to Portals can explore buildings and interactive rooms in Portals’ dense urban setting. Chris Lund, Portals’ Head of Community, announced the deal with Binance.US in a tweet shared by CoinDesk.
.@BinanceUS is one of several crypto companies setting up shop in @_portals_, a metaverse quickly emerging as @solana's answer to the Ethereum-based Decentraland.@shauryamalwa reportshttps://t.co/73Cyn79CSE
— CoinDesk (@CoinDesk) January 9, 2022
Later on, Zachary Tindal, Binance.US spokesman, confirmed the news via an email sent to CoinDesk. He remarked that the new space would be a virtual point of convergence for its exchange users.
He wrote, “We are creating a space in the metaverse for the Binance.US community to come together. It’s the first of many steps we’re taking to be forward-looking as we build and reach our community in new environments.”
Other Projects to Launch on Portals
Binance.US joins a growing number of crypto companies that are establishing communities for their subscribers in open metaverses. Also, Portals plays host to Ethereum-based businesses like The Sandbox and Decentraland.
Lund added that other exchange platforms would follow Binance.US to build a virtual Portals space. He hinted that FTX.US, the US branch of popular crypto exchange platform FTX, has plans to launch an office on Portals. Other Solana projects to build their virtual office on Portals include Raydium, Audius, Magic Eden, and Bonfida.
Why Portals?
Due to its unique characteristics, Portals appear to be making waves. The platform is one of the first virtual worlds released on the Solana blockchain. In addition to exposing the metaverse to the Solana community, Portals also provide crypto fans with a reasonably easy starting point to the metaverse. Also, a land piece in The Sandbox costs roughly 3 ETH (about $12,187) as a starting price. The cheapest Portals access key, on the other hand, is 10.98 SOL ($2,049)
Furthermore, it provides an extra benefit of giving owners a comprehensive environment that is fully furnished. However, owners can customize their space or buildings to suit their needs and tastes. Furthermore, owners can also change the layout, display their NFTs, and perform other tasks on their virtual apartment.
Another key feature that makes the platform stand out is its fully integrated voice and video chat option. This feature gives access key owners the ability to arrange events. In addition, they can also communicate with colleagues in their virtual space and plan get-togethers.
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