Binance Coin (BNB) has been on a tear as of late as it blasts through all-time highs in terms of Bitcoin price and enters the realm of price discovery. The coin has been holding up strong despite going parabolic, and it may climb higher still, as there are a lot of positive developments in the works for BNB.
Most recently, BNB is now supported on Loom Network (LOOM) as a payment method, as announced on March 12 via Medium post.
Loom Network and Binance Coin Integration
The Loom Network is essentially a 2nd-layer scaling solution for the Ethereum blockchain that enables Ethereum to host scalable decentralized applications (dapps) and smart contracts on sidechains through the concept of Plasma (also a second-layer scaling solution).
Loom Network has built a blockchain-based ecosystem for the developing of dapps such as online games, social media apps, and more. With the integration of Binance’s BNB token, the coin will be accepted as payment across applications on Loom Network’s PlasmaChain platform.
This initiative was launched via a partnership with Binance, the world’s largest crypto exchange by daily trading volume, and will allow the Loom Network to expand beyond the Ethereum network and traditional payment methods such as debit and credit cards.
Commenting on BNB’s integration with Loom Network was James Duffy, the co-founder and chief marketing officer (CMO) at Loom Network, where he said:
“We’re excited to be pushing things forward not only technologically (by integrating ERC20-based payments on a sidechain), but also by injecting a bit more fun and lightheartedness into the space.”
Binance Blockchain Gaming Promotion
In celebration of the Binance and Loom Network partnership, the developers of Loom Network’s decentralized blockchain-based game, Zombie Battleground, are offering a limited-time opportunity to users.
— Loom Network (@loomnetwork) March 12, 2019
Per the announcement, the promotion says:
“Up until now, Zombie Battleground cards have been purchasable in ETH or via credit card. We’re excited to announce we now accept BNB and to celebrate, we’ve decided to kick it off with a promotion exclusively for Binance fans.
For a limited time only, purchase card packs that have a special, collectors-edition Binance card back. Get a chance to find FREE BNB tokens in every pack you purchase — with a guaranteed minimum of $10,000 USD in prizes!”
A fun thing about this is that one of the exclusive cards available in the promotion features an action figure of Changpeng “CZ” Zhao, the founder and CEO of Binance.
What’s interesting about these collectible cards is that they are 100% held on the blockchain. Since they are built on a decentralized network, each player can truly own their cards forever, or they can trade or sell them to other players in the massive peer-to-peer (P2P) marketplace.
Will this Binance and Loom Network partnership boost the price of BNB and LOOM to new heights? Let us know what you think in the comment section below.
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