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HomeThe Virtual CrunchTrendsBitbns is first Indian exchange to list metaverse token ‘TRACE’ on its...

Bitbns is first Indian exchange to list metaverse token ‘TRACE’ on its platform

Bitbns has become the first cryptocurrency exchange in the nation to list the metaverse token ‘TRACE’ on its platform. The TRACE is a popular metaverse token that belongs to the Trace Network Labs and is used to accessorise digital avatars.

TRACE gives better exposure to the realm of non-fungible tokens increasing metaverse in the country, while also empowering network users with governance authority over the protocol.

Bitbns has added another 400+ coins to its list of supported cryptocurrencies with this addition. Alien World, RFOX, and DEAPcoin are among the prominent metaverse tokens that have just been added to the list.

TRACE also has other utilities for community incentivization, such as staking and farming, to reward network users through various incentives. The token is the network and ecosystem’s fuel, and it may be utilised for a variety of transactions in addition to protocol activities.

TRACE tokens will also be utilised as a base token fuel for minting and acquiring NFTs, as well as for settling minted NFTs across Trace’s network and ecosystem.

Trace Network is a decentralised system that allows any multichain metaverse to live a lifestyle. It develops technology with the goal of revolutionising how people interact with the metaverse and its assets. It lets users to move freely across numerous virtual worlds on different blockchain networks by allowing them to create their real-looking ‘Digital-Twins,’ also known as ‘Digital Avatars.’

AU21 Capital, NGC Ventures, OKex Blockchain Ventures, LD Capital, Moonrock Capital, Moonwhale, and DAO Maker are among the investors that have funded Trace Network Labs.

“At Bitbns, we have always looked forward to giving new offerings to clients,” says Gaurav Dahake, CEO of Bitbns, in response to the listing. The Metaverse is sweeping the globe by storm, especially in terms of delivering limitless potential to its users, thanks to a seamless convergence of virtual reality (VR), artificial intelligence (AI), and augmented reality (AR). With the addition of TRACE to Bitbns, we’ve expanded our platform’s metaverse offerings. We’re ecstatic to provide our users the opportunity to experiment with real-looking avatars and utilise them in a different metaverse. We’re also looking on ways for our users to create Avatars from within the platform.”

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