Binance to bring NFT Marketplace to Global Audience in June 2021

Binance to bring NFT Marketplace to Global Audience in June 2021

Binance to Launch NFT Marketplace in June 2021, Prioritising Low Fees, Better UX for Creators and High Liquidity

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider has today announced its plans to launch an NFT marketplace.

Set to launch in June 2021, the NFT trading platform will be the world’s leading NFT marketplace – offering the best creating and trading user experience, minimal fees, high liquidity, and high-value collectibles in all forms, such as visual art, music, games, sports, metaverse etc.

Our aim is to provide the largest NFT trading platform in the world with the best minting, buying and exchanging experience, by leveraging the fastest and cheapest solutions powered by Binance blockchain infrastructure and community,” said Helen Hai, head of Binance NFT project.

Today, Binance has launched the website landing page for Binance NFT, allowing artists and creators to get in touch for collaborations; mobile versions of the marketplace (iOS and Android) will be available at a later date. 

The Binance NFT marketplace will share the same account system as Binance.com. Existing Binance users will be able to access the NFT marketplace and trade with their current Binance accounts. New users will simply have to register on Binance.com to create or trade on the Binance NFT platform.

Binance serves millions of users around the world, many of whom will now be able to access the booming NFT space. In line with our commitment to the freedom of money globally and building an inclusive ecosystem, the Binance NFT marketplace will also support small value creators by providing the highest liquidity and cheapest fees for users,” said Changpeng “CZ” Zhao, CEO of Binance.

Binance NFT marketplace will consist of two main parts; a premium event and trading market, and will give users the ability to create, mint and deposit artworks from different chains. Premium events will feature select works through high-end exhibitions and global auctions. For sales at premium events, Binance will charge a competitive 10% fee and 90% of the proceeds as profit will go to the creators. 

In the trading market, every user can be a creator and craft their own NFTs at minimal cost. Users can also deposit their NFTs to the Binance NFT platform for sale or auction. Binance will charge 1% as the processing fee and creators or depositors will continuously receive 1% royalty – incentivizing creators to mint premium and valuable NFTs and obtain more royalty fees.

Leave a Reply

Your email address will not be published. Required fields are marked *

More from GCR

Greg d’Incelli - Scenius and the FTX impact on allocator appetite - Global Coin Research

Featured GCR Announcement GCR Exclusive Podcast

Greg d’Incelli – Scenius and ...

Gregory d’Incelli is the co-founder of Scenius Capital. Scenius is a digital assets and blockchain technology investment firm focused on providing sophisticated investors curated access ...

An Overview of Music NFTs - Global Coin Research

NFT

An Overview of Music NFTs

Introduction NFT or a non-fungible token is a unique digital asset on the blockchain that can be bought or sold. TheNFT movement has spread to ...

Insights

Writing NFTs As The New ...

The more I search for new perspectives on specific topics for my essays, the more I realize the difficulty of finding hidden gems and quality ...