Binance.US, the US subsidiary of the world’s largest crypto exchange Binance, is looking to open an office in metaverse, crypto media outlet Coindesk reported Monday. The exchange will use Portals, a metaverse platform built on the Solana blockchain, to establish its metaverse office.
Chris Lund, Portals head of community and partnerships, told the media outlet that Binance.US is purchasing a space in Portals downtown to deliver “the latest news, charts, and events virtually.”
However, Binance.US is not the only exchange looking to create its virtual office. Lund further added that FTX.US, the US arm of crypto derivatives exchange FTX, will also create a virtual space in Portals.
The metaverse boom is becoming more apparent by the day as more companies look to join the ecosystem. Many big names, including Adidas, Nike, Epic Games, Microsoft, and others, have ramped up their efforts to either launch their own metaverse services or join platforms like The Sandbox and Decentraland.
Two metaverse tokens, The Sandbox (SAND) and Axie Infinity (AXS) were the coins that produced the largest returns in 2021. SAND and AXS both recorded above 160-fold increase in investments last year, with Decentraland posing a +3,943% increase.