Binance Launches Its Own NFT Marketplace
Posted: 11 May 2021, 18:37
- Binance has announced the launch of its own platform for creating and trading NFT.
- The exchange promises the lowest fees.
- Binance believes in the long-term potential of this industry.
Cryptocurrency exchange Binance will introduce its own platform for creating and trading non-fungible tokens (NFT) in June. The company promises to charge its users with low commissions, high liquidity and a better user experience.
The Block asked a Binance representative why the company made the decision to announce the launch of the platform right now, during the decline in NFT activity.
“We believe in the fundamental value of NFT in the long term and we want to create the largest trading a platform for this market, ”a Binance spokesperson replied.
The Binance NFT marketplace will offer two main features:
- NFT creation and sale
- Trade NFT tokens
In other words , users will be able to both create new NFTs and post existing ones for sale. A 10% commission will be charged for the creation of non-fungible tokens, that is, the author of the work will receive 90% of the proceeds from the sale. As for trading fees, they will be 1%.
The Binance representative was also asked what blockchains the new marketplace will support, to which he replied:
“Mainly Binance Smart Chain and Ethereum. But TRON, Flow, Wax and others will also be supported. "
- The exchange promises the lowest fees.
- Binance believes in the long-term potential of this industry.
Cryptocurrency exchange Binance will introduce its own platform for creating and trading non-fungible tokens (NFT) in June. The company promises to charge its users with low commissions, high liquidity and a better user experience.
The Block asked a Binance representative why the company made the decision to announce the launch of the platform right now, during the decline in NFT activity.
“We believe in the fundamental value of NFT in the long term and we want to create the largest trading a platform for this market, ”a Binance spokesperson replied.
The Binance NFT marketplace will offer two main features:
- NFT creation and sale
- Trade NFT tokens
In other words , users will be able to both create new NFTs and post existing ones for sale. A 10% commission will be charged for the creation of non-fungible tokens, that is, the author of the work will receive 90% of the proceeds from the sale. As for trading fees, they will be 1%.
The Binance representative was also asked what blockchains the new marketplace will support, to which he replied:
“Mainly Binance Smart Chain and Ethereum. But TRON, Flow, Wax and others will also be supported. "