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

Crypto exchange Bitbns has become the first bourse in the country to list metaverse token ‘TRACE’ on its platform. Belonging to the Trace Network Labs, the TRACE is a popular metaverse token used for accessorizing digital avatars.

While it empowers network users with governance control over the protocol, TRACE also provides better exposure to the world of non-fungible tokens expanding metaverse in the country.

With this listing, Bitbns has expanded its collection of 400+ supported cryptocurrencies. The latest addition comes after listing several other popular metaverse tokens, including Alien World, RFOX, and DEAPcoin.

TRACE also carries other utilities in community incentivization to reward network participants through various incentives, including staking and farming. The token is the fuel of the network and ecosystem and 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.

Trace Network is a decentralized protocol enabling a lifestyle for any multichain metaverse. It builds technologies that aims to transform the way people access any metaverse or metaverse assets. It allows people to become metaverse residents by creating their real-looking ‘Digital-Twins’, also known as ‘Digital Avatars’ and empowers them to roam freely across multiple virtual worlds in different blockchain networks.

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.

Commenting on the listing Gaurav Dahake, CEO, Bitbns, says, “At Bitbns, we have always looked forward to offering unique propositions to customers. With a seamless convergence of virtual reality (VR), AI, and augmented reality (AR), the Metaverse is taking the world by storm, especially in terms of offering unlimited opportunities to its users. With the addition of TRACE on Bitbns, we have broadened the metaverse offering on our platform. We are excited to allow our users to explore real-looking avatars and use them in another metaverse world. We are also exploring ways our users can mint their Avatars from within the platform.”