Binance Coin, the native currency to super-popular cryptocurrency exchange, Binance, is making incredible ground today and progressing up the markets at a stunning rate. This is down to a combination of a great climate within the market and a new announcement that looks to be guiding Binance Coin towards Esports territory, an industry with many embedded uses for both cryptocurrency and blockchain technologies.
At the time of writing, Binance Coin is valued at $17.26, up 18.98%. This trend within Binance Coin doesn’t seem to be stopping, instead, the currency is moving up, soon enough, we could see Binance Coin reach $19.00 – $20.00, if this good fortune continues.
According to a press release out yesterday, Binance have established a partnership with chiliZ, a counterpart of the Malta-based Mediarex Group. Mediarex are an international sports and entertainment company and are currently members of the Enterprise Ethereum Alliance. chiliZ branch off from this and act as the wing of the firm, specialising in providing innovative solutions to Esports, allowing fans and players alike to create connections and thus, build the thriving Esports community that we see today.
Binance and chiliZ are working together on the premise that the online gaming industry (worth an estimated $110 Billion) will be the next major industry to adopt blockchain technology, simply because both Esports and blockchain contain a similar demographic with very much aligned ideals. According to the press release by chiliZ:
“Binance and chiliZ will work hand-in-hand to engage with the sports industry and develop a fan-driven token ecosystem for traditional sports teams and scaling the concept of “Socios” all over the world. Having already secured over $27 million through an ongoing private placement phase, chiliZ have welcomed the investment from Binance, as it will enable the sharing of technical knowledge, innovation and creativity, and will also helping chiliZ to deliver its vision on a global scale.”
Moreover, according to Alexandre Dreyfus, the CEO of chiliZ:
“Binance’s significant investment in chiliZ will boost our current private placement offering and help us to move faster. Their support will help us deliver our vision globally, increase our visibility in the blockchain ecosystem and empower our technical vision. I’m also excited that Binance is setting-up in Malta, where we will be able to share resources, enabling a more strategic partnership.”
You can see the full press release for yourself, here-
The future looks bright for Binance and indeed Binance Coin. It is clear that Binance Coin has responded very well to this news and thus we can assume that the currency will continue to flourish for the next few days. Given the current bright market conditions, if this is the case, Binance Coin could hit some very healthy heights indeed. Furthermore, this partnership has great implications for both the blockchain industry and the growing Esports industry. It’s a great bit of convergence and a really good bit of work by both Binance and chiliZ.