June 8, 2023
Featured Articles Market Updates

Binance to launch NFT Marketplace

Binance just announced that their very own dedicated NFT marketplace will go live in June.
Binance NFT will be the one stop shop for all things NFT, by bringing creators and investors alike to the platform, allowing users to access the marketplace directly from their Binance.com account. 

NFT creators have already been drawn to Binance Smart Chain for example, for cheaper and faster transactions compared to Ethereum, and it’s likely that many will take the opportunity to sell their creations on a well known exchange such as Binance, especially considering that liquidity will not be a problem.

All details have yet to be published, however premier exhibitions and NFT collaborations are planned for the release, and we already know that digital collectibles across several mediums, from visual arts and gaming to music and sports will be included.

Users will be able to deposit their NFTs to the “Trading Market” as well, and choose to list them for sale or for auction, at minimal cost. Binance will charge a 1% processing fee—and creators or depositors will receive a 1% royalty payment for all subsequent trades.

With this move, Binance will now not only be one of the top exchanges in the world, but also arguably the premier hub to safely and easily trade NFTs.