Despite facing challenges from the SEC, Binance is moving forward with an innovative project—a digital metaverse linked to The Weeknd’s “After Hours Til Dawn” tour.
Binance, currently in legal disputes with the SEC, has revealed its plans to launch a new digital metaverse centered around entertainment. This venture is a collaboration with the Canadian artist, The Weeknd, who is gearing up for his “After Hours Til Dawn” tour. The metaverse project has been in the works since June 2022.
Starting from 10 am ET, fans and curious individuals can dive into this virtual world, regardless of whether they have purchased concert tickets or not. As per the information shared by Binance, users can choose to explore the metaverse or engage in solving puzzles.
Exploring the metaverse involves an adventurous search for virtual treasures, leading to unlocking various rewards. On the other hand, the puzzle component offers challenges with the opportunity to win exclusive merchandise related to The Weeknd or even tickets to upcoming concerts by the artist.
Furthermore, attendees with concert tickets are in for a treat with non-fungible token (NFT) souvenirs, which could grant them access to signed merchandise or exclusive VIP experiences. Binance has emphasized that this offer is subject to market conditions.
In addition, users have withdrawn over $392 million from Binance within a day. The global crypto exchange has been facing turbulence, triggered by an SEC enforcement action resulting in a significant $1.5 billion net outflow. Furthermore, Binance.US has confirmed upcoming layoffs.
Despite the hurdles, Binance’s launch of this metaverse project showcases their dedication to broadening their horizons and merging technology with entertainment. Rachel Conlan, Binance’s Vice President of Global Marketing, believes that the partnership with The Weeknd is a perfect platform to demonstrate how Web3 can connect artists and fans.
As a bonus, Binance intends to release an exclusive NFT collection tied to The Weeknd’s tour later this year. In a philanthropic gesture, 5% of the collection sales will be donated to the XO Humanitarian Fund, initiated by The Weeknd and operated by the World Food Program USA. This move illustrates Binance’s focus on supporting social causes and pushing the boundaries of technological innovation.
For more updates, an expert suggests that the US might bring criminal charges against Binance. Stay connected with us on Google News for the latest information.