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Binance inks metaverse collaboration with The Weeknd

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TL;DR Breakdown

  • Binance has announced a metaverse collaboration with popular artist The Weeknd.
  • Crypto partnerships and NFT integration.

Description

Cryptocurrency exchange giant Binance and pop artist The Weeknd have joined forces to introduce a unique online space called the “Metaverse Dimension,” as part of their ongoing collaboration. This new venture aims to offer users an immersive experience, combining elements of gaming, art, and exclusive rewards, and bringing The Weeknd’s creative world to life in … Read more

Cryptocurrency exchange giant Binance and pop artist The Weeknd have joined forces to introduce a unique online space called the “Metaverse Dimension,” as part of their ongoing collaboration. This new venture aims to offer users an immersive experience, combining elements of gaming, art, and exclusive rewards, and bringing The Weeknd’s creative world to life in a fresh and captivating way.

Binance announces a metaverse treasure hunt competition

Within the web-based game, participants can engage in a treasure hunt challenge, unlocking exclusive areas, content, and rewards as they navigate through a visually stunning 3D environment adorned with imagery inspired by The Weeknd and Binance. Each player will be given an avatar and virtual outfit, styled with campaign imagery and branding from The Weeknd.

The Metaverse Dimension encompasses various areas, including a club room, an art gallery, a Binance-themed zone dedicated to Web3 and crypto education, and even a secret door waiting to be discovered. Completing challenges will grant access to a VIP area and a stage, adding to the excitement and sense of achievement.

Binance has introduced integrated puzzles within the digital experience, providing participants with an opportunity to win tickets to future Weeknd concerts, as well as exclusive merchandise. Additionally, augmented reality (AR) experiences will be available during stops of The Weeknd’s ongoing world tour, adding another layer of interactivity and engagement for fans.

This expansion of the partnership between The Weeknd and the exchange builds upon their previous collaborations, which began in 2022. Binance is proudly sponsoring The Weeknd’s After Hours ’Til Dawn world tour, which commenced in the United States and Canada and has now extended to Europe this summer, with Latin American dates planned for the fall.

Crypto partnerships and NFT integration

The partnership also encompasses other crypto-related elements, such as an NFT collection co-designed by HXOUSE, a Toronto-based community incubator. Attendees of The Weeknd’s concerts will receive virtual ticket stubs that can be redeemed for commemorative NFTs, adding value and uniqueness to the concert experience.

Last year, Binance announced a $2 million donation to the XO Humanitarian Fund, established by The Weeknd in his role as a United Nations World Food Programme (WFP) Global Goodwill Ambassador. The collaboration between Binance and The Weeknd also involves future NFT projects, with 5% of the sales proceeds from the NFT collection being pledged to the fund.

As the largest cryptocurrency exchange by trading volume globally, Binance’s involvement in the NFT market further strengthens its position. In 2021, the NFT market witnessed trading volumes worth $25 billion, and it nearly matched that figure again in 2022. Binance operates its own NFT marketplace, providing a platform for the trading and showcasing of digital assets.

Despite its leading position, Binance has faced increased regulatory scrutiny in recent times. The United States Securities and Exchange Commission (SEC) recently filed a lawsuit against Binance, along with its co-founder and CEO, Changpeng “CZ” Zhao, alleging securities violations. Binance is actively contesting these claims.

The Weeknd, also known as Abel Tesfaye, has been exploring the realm of Web3 for some time. In 2021, he released an NFT collection on the Nifty Gateway marketplace and joined the board of directors for the NFT platform Autograph, co-founded by NFL star Tom Brady. Through Autograph, The Weeknd released his Ethereum-based NFTs.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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