Binance NFT Marketplace has recently launched The Sandbox NFT Staking Program, an exclusive staking platform for $SAND tokens that rewards users with unique NFT rewards. The Sandbox is a decentralized virtual gaming ecosystem on the Ethereum blockchain that enables users to create, own, and monetize gaming experiences.
The Sandbox NFT Staking Program aims to encourage user participation in the NFT ecosystem and promote the expansion of The Sandbox platform. The program will be available to all users from 2023-04-28 09:00 (UTC) to 2023-07-05 23:59 (UTC), with further updates communicated via Telegram, Twitter, Discord, and Instagram for Binance NFT.
It is worth noting that Binance is the only third–party platform offering staking services for The Sandbox NFT, while LAND NFTs are available on both Ethereum and Polygon networks. The Sandbox NFT Staking Program only supports LAND NFTs held on the Polygon network.
The staking program is exclusively available to Flexible Term subscriptions, and users can stake their LAND NFTs without owning SAND tokens. The daily SAND rewards will depend on the current APR displayed on the program’s website, and staking and unstaking requests for LAND NFTs on the program will incur no gas fees from Binance NFT.
The launch of The Sandbox NFT Staking Program on Binance demonstrates the increasing interest in the virtual gaming industry and the growing adoption of NFTs. These innovative initiatives, such as the staking program, are anticipated to play a crucial role in the evolution of the blockchain gaming industry, creating new opportunities for users and developers as the NFT market continues to expand.
For those interested in participating, Binance NFT is the official NFT marketplace of Binance and provides 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 vast selection of valuable collectibles that are readily accessible to Binance’s over 90 million users.
Users with LAND NFTs on the Ethereum network can participate by transferring them to the Polygon network and depositing them on Binance. In addition, Binance NFT is launching a special promotion from April 28, 2023, 09:00 (UTC) to May 25, 2023, 23:59 (UTC) for early adopters of The Sandbox NFT Staking Program who stake their LAND NFTs on the Polygon network.
According to the promotion conditions, users who stake 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. The unlocked rewards pool will be split among qualifying users based on the number of eligible entries received by each qualified user as a percentage of the total number of eligible entries held by all qualified users.
Binance NFT’s support for The Sandbox will benefit the platform in various ways, such as reaching a wider audience of NFT collectors and enthusiasts and potentially increasing visibility. Moreover, by listing The Sandbox’s NFTs on Binance, users can easily buy, sell, and trade the platform’s virtual assets, which can help increase liquidity. Finally, by partnering with Binance NFT, The Sandbox can leverage the credibility of the Binance brand to gain trust and confidence from potential users and investors.
