Binance Launches an NFT Marketplace
Main page News, Cryptocurrency Exchanges, NFT
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27 April
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Binance, the world's largest cryptocurrency exchange, has just announced the launch of an NFT marketplace.

The NFT marketplace, which will be launched in June, will become the world's leading platform for trading NFT tokens and will offer users a world-class interface for issuing and exchanging NFTs, low fees, high liquidity as well as unique collectible tokens from the worlds of art, music, gaming, sports, virtual universes and many others. Helen Hai, head of Binance NFT, said:

"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."

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Binance has already launched a separate page for the NFTs project which artists and authors can use to contact Binance for cooperation. The mobile version of the marketplace will be available in the near future.

The Binance NFT marketplace will use the same account system as the crypto exchange. As a result, existing Binance users will be able to access the NFTs marketplace and trade from their existing accounts, while new users will need to register with to create tokens and trade on the platform. The exchange CEO Changpeng Zhao said:

"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."

The two main events of the Binance NFT marketplace will be exclusive. Users will be able to create, publish and transfer artwork from various blockchains. During these events, selected artworks will be displayed at prestigious exhibitions and auctions. Binance's fee for the sale of artworks at exclusive events will be 10%, and the rest of the proceeds (90%) will go to the authors.

The marketplace will allow anyone to create their own NFT tokens with minimal costs. Users will also be able to transfer their NFTs to the Binance platform for subsequent sale or auction. The transaction processing fee will be 1%, and creators or depositors will receive a 1% royalty payment for all subsequent trades.

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