trace: Bitbns becomes first Indian exchange to list Metaverse Token ‘TRACE’

Synopsis

Bitbns hosts more than 400 cryptocurrencies on its platform. TRACE has joined as the latest addition, following comes after successfully listing several other popular metaverse tokens, including Alien World, RFOX, and DE coin.

New Delhi: Crypto trading platform Bitbns has listed the popular metaverse token ‘TRACE’ on its platform. It has become India’s first crypto exchange to list this token.

Belonging to Trace Network Labs, TRACE is a widely popular metaverse token used for accessorising digital avatars. It empowers network users with governance control over the protocol with exposure to the world of NFTs expanding metaverse.

Bitbns hosts more than 400 cryptocurrencies on its platform. TRACE has joined as the latest addition, following comes after successfully listing several other popular metaverse tokens, including Alien World, RFOX, and DE coin.
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Gaurav Dahake, CEO, Bitbns said, “At Bitbns, we have always looked forward to offering unique propositions. The Metaverse is taking the world by storm, especially in terms of offering unlimited opportunities to its users.

It is exciting to allow users to explore real-looking avatars and use them in another metaverse world, he added. “We are also exploring ways our users can mint their Avatars from within the platform.”

The token also carries other utilities in community incentivisation to reward network participants through various incentives, including staking and farming.

The is used for multiple transactions besides participation in protocol operations. TRACE tokens will also be used as a base token fuel to mint and acquire NFTs and to settle minted NFTs over Trace’s network and ecosystem.

The native, interoperable utility token of the Trace Network is available for trading and staking in the pair of TRACE/INR. Trace Network is a decentralised protocol enabling a lifestyle for any multichain metaverse.

It builds technologies that aim to transform the way people access any metaverse or metaverse assets. It also enables lifestyle for these avatars in metaverses powered by NFTs and digital fashion.

It allows people to become metaverse residents by creating their real-looking ‘Digital-Twins’ or ‘Digital Avatars’ and empowers them to roam freely across multiple virtual worlds in different blockchain networks.

Lokesh Rao, Co-Founder and CEO, Trace Network Labs, said that being an Indian-founded project, this listing will boost the nascent Metaverse & NFT industry in the country and provide the Indian users access to a Meta-token in the sovereign currency.

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.
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Updated: 04/26/2022 — 10:00