Binance NFT, the NFT marketplace of Binance, recently announced the launch of its very first Initial Gaming Offering (IGO). The IGO is part of Binance’s brand new initiative to create the ultimate launch pad for NFT games and players, the company said.

Initial gaming offerings provide individuals with the opportunity to invest in early stage gaming projects. IGOs feature NFT collections from game projects that are available exclusively on the Binance NFT marketplace. The content of the drop will consist of in-game assets such as early access passes, weapons and items, as well as exclusive Binance cosmetics and skins.

“Through IGO Drops, Binance NFT connects the global crypto community to high-quality blockchain games and high-quality in-game NFT assets,” Binance NFT manager said. Helen Hai noted. “Binance NFT is a dedicated hub where promising game projects can develop their games and build communities. Our goal is to help strengthen the gaming industry and develop this sector to become more mainstream. “

Initial game supply drops should provide the basis for a planned metaverse. Binance NFT aims to increase exposure and hype not only for gaming projects built on the Binance Smart Chain (BSC), but also for those not hosted on the BSC blockchain.

Binance NFT’s very first IGO is from DeRace, and it’s launched today. DeRace is a complete NFT horse racing ecosystem where players can participate in horse races, breed NFT horses with unique characteristics, run races at their own NFT racetrack, and earn profits in the process. The DeRace drop featured 10 types of NFTs, with five regular horses and five Binancian horses. NFTs on sale are redeemable for a DeRace NFT horse, a play-to-win asset that players can use in-game.

Just over a month after its debut, Binance NFT said it generated 25 million BUSD in sales, sold more than 300,000 mystery boxes and integrated 400 creators worldwide. Today, Binance NFT has sold over 900,000 mystery boxes and achieved over 103 million BUSD in total sales since its launch.

The Binance NFT marketplace shares the same account system as Binance.com. Existing Binance users can access the NFT marketplace and trade with their current Binance accounts.

New users must register on Binance.com to create or trade on the Binance NFT platform. Binance NFT has also added multi-chain support for NFT deposits and withdrawals. Users can now transfer their NFTs to and from the Binance Smart Chain and Ethereum networks.