Binance Launches the Sandbox NFT Staking Program.

Binance NFT Marketplace has introduced The Sandbox NFT Staking Program. It allows users to earn exclusive NFT rewards by staking $SAND tokens. The Sandbox has gained popularity as a decentralized virtual gaming platform. It is based on the Ethereum blockchain. It enables users to create, own, and make money from their own gaming experiences.

The increasing interest in the virtual gaming industry and the rising use of NFTs are emphasized by Binance’s release of The Sandbox NFT Staking Program. As the NFT market expands, so the blockchain gaming industry is expected to evolve. Creative initiatives like this staking program are anticipated to be critical in this process. Such initiatives will open up new prospects for both developers and users in the industry.

The aim of this initiative is to encourage participation from The Sandbox (SAND) community. It allows users to stake their LAND NFTs held on the Polygon network and receive daily rewards. The program, called The Sandbox NFT Staking Program, offers only flexible term subscriptions. Its users do not need to possess SAND tokens to stake their LAND NFTs.

Users can earn SAND rewards on a daily basis, with the actual amount calculated using the current APR displayed on the program’s webpage. When staking and unstaking LAND NFTs via the program, Binance NFT will not charge any gas fees.

Only third-party platform that provides staking for The Sandbox NFT

Binance is the only third-party platform that currently offers The Sandbox NFT staking. The initial program runs from April 28, 2023 to July 5, 2023.

Binance’s introduction of The Sandbox NFT Staking Program illustrates the increasing interest in the virtual gaming industry and the rising use of NFTs. Experts anticipate that the growth of the NFT market will significantly influence the development of the blockchain gaming industry and the innovative programs like this staking program will play a crucial role. This will create new prospects for both users and developers.

Related reading: Ovix, polygon-based protocol, exploited for $2M

The author’s views are for reference only and shall not constitute investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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