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Binance Lands New Deals With the Museum of the Future

NFT

www.cryptonewsz.com 23 May 2022 11:01, UTC
  
Reading time: ~3 m

The recently inaugurated Museum of the Future from the UAE closed an NFT partnership deal with the largest cryptocurrency exchange in the world, Binance. The two entities will be delivering some of the most unique digital assets in the future representing the futuristic essence of the museum.

The Museum of the Future was established in the UAE to exhibit some intriguing and visionary ideas. Although it has been just a few weeks since the inauguration, the number of visitors to this venue has increased phenomenally. The intention to exploit this popularity has brought the museum to the crypto ecosystem.

Binance exchange and its NFT marketplace Binance NFT will assist the museum in launching its first-ever NFT collection. Named ‘The Most Beautiful NFTs in the Metaverse,’ the collection of NFTs will exhibit the works of some of the impact ideas from the brightest minds of the world.

The news about this new collaboration was shared by WAM on the 18th of May. Omar Bin Sultan Al Olama, the State Minister for Artificial Intelligence, Digital Economy, and Teleworking Applications, believes that this partnership will be a milestone in the UAE’s plan to build an international ecosystem for digital assets. The NFT collection from the museum will drop in a few weeks from now.

In addition to the Museum of the Future collaboration, Binance also announced a partnership with the Venus Protocol Mini Program. Venus Protocol is now the first lending and borrowing app to make it to the Binance mobile platform.

Venus Protocol is a decentralized marketplace that offers platform borrowing and lending for stablecoins. The money market of this protocol is one of the largest algorithms in the BNB blockchain. The financial requests are carried out through a network of participants who execute the operations through Venus-supported cryptocurrencies.

The partnership with the money market protocol was shared on May 19, just a day after the Museum partnership. Now, users on the Binance chain can directly access decentralized lending and borrowing from the Venus Protocol. This will help eradicate the need for switching between the platforms and offer a seamless experience on the chain.

The Venus Protocol Mini Program will be integrated with the decentralized non-custodial wallet from Binance. The web3 wallet allows users to transfer funds and connect with dApps like Venus Protocol and PancakeSwap. This will enhance user experience while selecting blockchains and switching between Binance and DeFi.

Head of Product at Binance, Mayur Kamat said that the goal of this integration with Venus Protocol is to enhance the use cases of the Binance Application like lending and borrowing for better accessibility. 

Binance has been expanding its business through new partnerships, licenses, and acquisitions lately. Now, thanks to these new updates, the exchange opens the week on a positive note which is likely to reflect in its market value.


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