Binance launches its NFT marketplace

The new marketplace will bring together artists, creators, and crypto enthusiasts worldwide

Binance NFT

Binance launches its NFT marketplace. Source: binance.com

In June, Binance will launch Binance NFT, its NFT marketplace and trading platform.

According to the official statement, Binance NFT will share the same account system as Binance.com, allowing users to access the marketplace alongside its other ecosystem offerings.

Besides, users will see a packed lineup of exhibitions and global auctions, featuring top artists and in-demand content available on Binance NFT.

The company unveiled that its marketplace will debut with two main venues: a “Premium Event” category for the most sought-after collaborations and a “Trading Market” that allows everyday users to easily create NFTs at minimal cost.

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
Helen Hai, Head of Binance NFT

For curated “Premium Event” collections, artists receive 90%of profits from sales setting a new benchmark for NFT rewards.

Users can also deposit their NFTs to the “Trading Market” and choose to list them for sale or for auction, at a minimal cost.

Binance charges a nominal 1% processing fee—and creators or depositors receive a 1% royalty payment for all subsequent trades.

We’ve reported that the world’s first NFT microinsurance launched.

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