Binance Announces Plans to Enter the Solana Metaverse

The metaverse is the trend of the last few months in the crypto world. More and more companies are in the process of partnering with blockchains to get virtual properties in the metaverse. The goal here, of course, is to attract new customers. So it’s not too surprising that major crypto exchanges are also going down this path. One of the latest partnerships was formed between Binance.US and the Solana blockchain.

As part of this partnership, the US division of the world’s largest crypto exchange Binance plans to build its own virtual space in “Portals”. It is a metaverse platform based on the Solana blockchain. The Metaverse creates a whole new interactive world where users can move freely and explore buildings and interactive spaces.

The news was shared on Twitter by Chris Lund, Portals’ head of community and partnerships. He shared, “Binance.US is getting a spot in Portals Downtown with a focus on delivering the latest news, charts as well as events virtually.”

Lund also revealed that FTX.US, the U.S. arm of crypto exchange FTX, also plans to set up its own office in the Solana metaverse. If you want to read more about Solana metaverse and to find other interesting business headlines, download for free our companion app Born2Invest.

Portals – the lesser-known metaverse of Solana

It is quite interesting that Solana, of all companies, was chosen for the partnership. Most companies preferred virtual worlds based on Ethereum so far. However, the Ethereum blockchain comes with high transaction costs and some other issues. This has led some to turn to alternative ecosystems.

Moreover, Portals is logically a favorite for those who want to build on the Solana blockchain, for example, their DeFi platforms. According to Binance.US spokesperson Zachary Tindall, the Metaverse will serve as a meeting place for users of the crypto exchange.

“We’re creating a space in the Metaverse for the Binance.US community to come together,” Tindall originally told Coindesk, adding, “It’s the first of many steps we’re taking to be forward-thinking as we build and reach our community in new environments.”

Metaverses are digital worlds where users can interact as they would in real life, only virtually. Over the past year, more and more companies have made plans to integrate into the metaverse. Facebook leads the pack after rebranding itself as Meta in October. After that, there have been many other projects and partnerships.

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(Featured Image by xresch via Pixabay)

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