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Leading Crypto Exchange ‘Binance’ Launching an NFT Marketplace

Binance, the world’s biggest cryptocurrency exchange platform, has announced it will be joining the NFT revolution by introducing its own native NFT marketplace and trading platform. Promising to be a seamlessly designed and intuitive platform, ‘Binance NFT’ intends to put the power back in the hands of artists by integrating an unparalleled user interface along with generous remuneration.

Set to debut in June 2021, with the intent of becoming the world’s premier NFT marketplace and revolutionize the way NFTs are created and traded, Binance promises to incorporate the best minting, buying and trading experience the NFT ecosystem has ever seen. This will be achieved by utilizing leveraging solutions powered by the Binance blockchain infrastructure.

The marketplace will consist of two main venues, “Premium Events” and the “Trading Market”. “Premium Events” will service the most sought-after collaborations and intends to be a creator-focused platform with the lowest transaction fees in the industry. Premium event artists will receive 90% profits from sales setting a new benchmark for NFT rewards. The “Trading Market” will allow casual users to create and trade content. These will be charged a nominal 1% processing fee and creators will receive a 1% royalty payment for all subsequent trades.

The new platform will run primarily on the Binance Smart Chain, but will also offer support for the Ethereum network.

Image credit: via Binance

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