BNB, or Build and Build, is the native cryptocurrency of the BNB Chain ecosystem, originally launched as Binance Coin in 2017. It started as a utility token for discounted trading fees on the Binance exchange and has since evolved significantly.
Today, BNB powers the entire BNB Chain, including the BNB Smart Chain (BSC), where it's used for transaction fees, staking, and governance. BNB also facilitates participation in new project launches on Binance Launchpad and has diverse applications across DeFi, NFTs, and various online services. Binance regularly "burns" BNB to reduce its supply, aiming to increase its value over time.