Binance NFT Launches Support for Sandbox NFT Staking Program – Cryptopolitan
Binance NFT Marketplace recently announced the launch of The Sandbox NFT Staking Program, which allows users to stake $SAND tokens and earn exclusive NFT rewards. Sandbox is a popular decentralized virtual gaming ecosystem built on the Ethereum blockchain that allows users to create, own and monetize gaming experiences.
This new effort program is intended to stimulate user participation in the NFT ecosystem and promote the expansion of The Sandbox platform. The Sandbox NFT Staking Program will initially be available to all users between 2023-04-28 09:00 (UTC) and 2023-07-05 23:59 (UTC). Further updates will be announced separately on Telegram, Twitter, Discord and Instagram for Binance NFT.
Binance NFT opens support for SAND NFT staking program
Binance is the only third-party platform that provides staking for The Sandbox NFT. While LAND NFTs are available on both the Ethereum and Polygon networks, the Sandbox NFT Staking Program only supports LAND NFTs held on the Polygon network.
The Sandbox NFT Staking program is exclusive to flexible term subscriptions and users are not required to hold SAND tokens to stake their LAND NFTs. The daily SAND rewards will be dependent on the current APR displayed on the program’s website. LAND NFT staking and unstaking requests made through the program will not incur gas fees from Binance NFT.
The introduction of the Sandbox NFT Staking Program on Binance exemplifies the growing interest in the virtual gaming industry and the growing use of NFTs. Innovative initiatives such as this effort are expected to play a central role in the development of the blockchain gaming industry, creating new opportunities for users and developers as the NFT market continues to grow.
How can you participate? Learn more!!
Binance NFT, the official NFT marketplace of Binance, offers an open market for artists, creators, crypto enthusiasts, NFT collectors and creative enthusiasts worldwide with the highest liquidity and lowest fees. Binance NFT offers a large selection of valuable collectibles that are easily accessible to Binance’s over 90 million users.
Those holding LAND NFTs on the Ethereum network can participate by transferring them to the Polygon network and depositing them on Binance. In addition, a special promotion is available from April 28, 2023, 09:00 (UTC) to May 25, 2023, 23:59 (UTC).
Binance NFT is also launching a campaign for early adopters of The Sandbox NFT Staking Program who stake their LAND NFTs on the Polygon network. According to the promotion terms, users who bet for more than 14 days during the promotion period will be eligible to share a dynamic prize pool of up to 20,000 SAND in token vouchers.
All Eligible Users will share the unlocked Reward Pool based on the number of Eligible Entries received by each Eligible User as a percentage of the total number of Eligible Entries received by all Eligible Users. The Reward for each Eligible User is calculated as (number of Eligible Entries held by each Eligible User / total number of Eligible Entries held by all Eligible Users) * the total Reward Pool unlocked.
Sandbox can benefit from Binance NFT support in several ways. Sandbox can reach a wider audience of NFT collectors and enthusiasts, potentially increasing the visibility of the platform and its virtual land and gaming assets.
In addition, by listing The Sandbox’s NFTs on Binance, users can easily buy, sell and trade The Sandbox’s virtual assets, which can help increase the liquidity of the platform.
Binance is a well-known and trusted brand in the cryptocurrency space. By partnering with Binance NFT, The Sandbox can leverage the credibility of the Binance brand to gain the trust and confidence of potential users and investors.
