Binance, a major cryptocurrency exchange, has partnered with UpLive, a China-based video platform with over 20 million users.
Under the terms of the partnership, UpLive will offer users the chance to give and receive a virtual gift based on Binance Coin, according to Business Wire.
UpLive is a company which calls itself “a talent agency of instant online celebrities and models with special background”. It offers live video streaming on Facebook. Founded in May 2016, it has already accumulated 60,000 users who together purchase 25 million virtual gifts on a monthly basis.
The gifts are created on a blockchain called Gifto, whose ICO sold out in 1 minute, and earned more than $100 million in 2017.
Binance was founded five months ago and today announced having reached 3 million users.
The exchange has been going it large in its efforts to draw customers. Three days ago, the exchange added the MCO/BNB trading pair to its platform, offering a prize of a Lamborghini to the most active trader over the competition period. This followed a similar offer with TNB and a Porsche, which in turn followed a special of TRON paired with a nice Maserati.
Binance Coin is currently the tenth most valuable in the world with a market cap of almost $58 million, according to CoinMarketCap.
Andy Tian, co-founder and CEO of Uplive, commented on the partnership: “It is our pleasure to work with Binance in such a mutually beneficial and innovative fashion. We believe that blockchain technology can really benefit mass consumers around the world, and we are honored to be have a partner such as Binance to bring these benefits to millions of users who previously may not understand blockchain or cryptocurrency.”
He Yi, co-founder and CMO of Binance, said: “The founders of Uplive and Gifto have extensive successful startup experience. Their team has excellent execution, with world class product development and operation capabilities. Gifto is based on the proven, real world market demand from Uplive, and will enjoy benefit of jump starting from Uplive’s huge user base. These are the main reasons for our cooperation, we prefer teams that act more than talk.”
(Photo: Changpeng Zhao, Founder of Binance)