India’s crypto exchange Bitbns became the first among its peers in the country to list metaverse token ‘TRACE’ on its platform. The popular metaverse token is part of the Trace Network Labs, known for augmenting digital avatars.
One of the asset’s several use cases is its ability to grant network users governance control over the protocol. TRACE also provides better exposure to the world of non-fungible tokens in the ever-expanding metaverse universe.
Apart from that, TRACE also extends other utilities like rewarding network participants through various incentives, including staking and farming. The asset is the fuel of the network and ecosystem and is used for multiple transactions besides participation in protocol operations.
The metaverse token on its website claims to be a complete decentralized protocol that enables lifestyle for any multichain metaverse. It builds technologies aiming to transform the way people access any metaverse or metaverse assets.
Further, it allows users to become metaverse residents by creating their look-alike which it calls ‘Digital-Twins’, or ‘Digital Avatars’. These so-called digital replicas are then able to roam freely across multiple virtual worlds in different blockchain networks.
Trace Network Labs is backed by investors such as AU21 Capital, NGC Ventures, OKex Blockchain ventures, LD Capital, Moonrock Capital, Moonwhale, and DAO maker, among others.
Bitbns now supports 400+ cryptocurrencies
With this new addition, the crypto service provider has expanded its collection to support more than 400 cryptocurrencies. The latest inclusion comes after listing several other popular metaverse tokens, such as Alien World, RFOX, and DEAPcoin.
Speaking on the same, Gaurav Dahake, CEO, of Bitbns, says, that Bitbns have always strife to offer unique propositions to customers. Together with the seamless amalgamation of virtual reality [VR], AI, and augmented reality [AR], Dahake noted that the Metaverse is on its way to a roaring success, especially in terms of offering unlimited opportunities to its users.
With the addition of TRACE on Bitbns, we have broadened the metaverse offering on our platform. We are excited to allow our users to explore real-looking avatars and use them in another metaverse world. We are also exploring ways our users can mint their Avatars from within the platform.