Binance is entering the metaverse with Build The Block, a new crypto-themed reality show that will pit 12 startups in the industry against each other.
The first episode will air on 12 May on Binance Live and the platform’s official YouTube account.
Binance and its first metaverse reality show: Build the Block
Binance Studio, the global creative arm of the famous crypto exchange Binance, has announced the launch of its first metaverse, a reality show version called ‘Build The Block’.
The new reality show in Binance’s first metaverse will feature 12 crypto startups competing against each other. The episodes will be live and involve the audience, a panel of judges, with a real-life Web3 entrepreneurial challenge.
It is a new global digital content series that marks Binance’s first adventure into the reality show metaverse.
The first episode of Build The Block will premiere on 12 May at 22:00 (UTC+8) on Binance Live and Binance’s official YouTube account.
Binance and the metaverse reality show: the platform’s latest innovative experiment
Apparently, this Build The Block is Binance’s latest innovative experiment via Binance Studio.
Indeed, He Yi, co-founder and CMO of Binance and head of Binance Labs, said:
“Build The Block is Binance’s latest innovative experiment: the creation of the industry’s first metaverse investment competition. This initiative has attracted a large number of web3 entrepreneurs and builders to participate and showcase their projects. We hope that this platform will encourage everyone to innovate further. We believe in the potential of the metaverse and blockchain technology and will continue to empower innovators to create the future of the internet”.
Bitcoin’s Lightning Network integration
Just this week, Bitcoin’s blockchain experienced a veritable boom in daily transactions, with the all-time high of over 680,000 on-chain transactions occurring on Monday 1st May.
This sudden increase, also due to the booming interest in Bitcoin’s NFT Ordinals, has slowed down the functioning of Bitcoin’s blockchain, also because its scalability allows it to handle a limited number of daily transactions.
In addition to expectations, transaction fees have also risen disproportionately. Against this backdrop, Binance has had to suspend withdrawals precisely to avoid excessive fees, only to reactivate them once fees are back in line with expectations.
But blocking and unblocking its users’ withdrawals when it comes to bitcoin is not the only solution. In fact, just yesterday, the most popular crypto exchange decided to integrate bitcoin’s Lightning Network, the crypto queen’s Layer 2 par excellence.
By using the Lightning Network (LN), bitcoin transactions will not necessarily all take place on its blockchain, but can use LN channels.