Recently, the Museum of the Future opened in the United Arab Emirates (UAE) and entered into an NFT deal with Binance. The two entities will deliver some of the most unique digital assets in the future that represent the futuristic essence of the museum.
The Museum of the Future was established in the UAE to showcase some intriguing and visionary ideas. Although it’s only been a few weeks since the inauguration, the number of visitors to this location has risen phenomenally. The intent to capitalize on this popularity has brought the museum to the crypto ecosystem.
Part of Binance’s NFT launch
Binance NFT, Binance’s NFT marketplace, launched this partnership to help the museum launch its very own NFT collection. The collection will be titled “The Most Beautiful NFTs in the Metaverse” and will showcase the work of some of the best ideas in the world.
On May 18, news of the partnership was dropped by WAM. The State Minister for Artificial Intelligence, Digital Economy and Telework Applications, Omar Bin Sultan Al Olama, believes this partnership will be a milestone in the UAE’s plan to build an international digital asset ecosystem. Within a few weeks, the NFT collection will be officially released.
Partnership with Venus Protocol
Binance also announced a partnership with the Venus Protocol Mini Program. Venus Protocol is now the first lending and borrowing app to reach Binance’s mobile platform.
Venus Protocol is a decentralized marketplace that offers platform loans and loans for stablecoins. The money market of this protocol, is one of the largest algorithms on the BNB blockchain. The financial requests are made through a network of participants who run the operations through Venus-backed cryptocurrencies.
On May 19, the partnership with Venus Protocol was shared. Now Binance chain users can directly access decentralized loans and loans through the Venus protocol. This will help eliminate the need to switch between platforms and provide a seamless experience across the chain.
The Venus Protocol Mini program integrates with Binance’s decentralized non-custodial wallet. The web3 wallet allows users to transfer funds and connect to dApps such as Venus Protocol and PancakeSwap. This will improve the user experience while selecting blockchains and switching between Binance and DeFi.
Mayur Kamat, Head of Product at Binance, said the goal of this integration with Venus Protocol is to improve the use cases of the Binance app, such as lending and borrowing, for better accessibility.
Binance has recently expanded its business through new partnerships, licences and acquisitions. Now, thanks to these new updates, the exchange is opening the week on a positive note, which is likely to be reflected in the market value.