Cayman Islands-domiciled cryptocurrency exchange Binance has revealed it will launch Binance NFT, a Non-Fungible Token (NFT) marketplace and trading platform in June 2021.
Binance says the new global marketplace will become the premier destination for NFTs and digital collectibles across mediums, from visual arts and gaming to music and sports.
The marketplace will offer one-of-a-kind and exclusive collaborations, paired with a seamlessly designed and intuitive digital platform to bring together artists, creators, and crypto enthusiasts from around the world. Furthermore, Binance NFT will share the same account system as Binance.com, allowing users to access the marketplace alongside other ecosystem offerings.
Users will be able to eposit their NFTs to the “Trading Market” and choose to list them for sale or for auction, at a minimal cost. Binance says they will charge a nominal 1pc processing fee—and creators or depositors receive a 1pc royalty payment for all subsequent trades.
“For curated “Premium Event” collections, artists receive 90pc of profits from sales setting a new benchmark for NFT rewards. ”
“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,” said Changpeng “CZ” Zhao, CEO of Binance.
The cryptocurrency infrastructure and blockchain ecosystem also announced some of the names of the first batch of creators who will have the honor to exhibit their collectibles on the Binance NFT Marketplace. Some of the participants include Lewis Capaldi, who has won the BRIT Award 2 times, wevisual artist Trevor Jones, Esports team eStarPro, and well-known soccer stars Michael Owen and Alphonso Davies.
You can visit Binance NFT to learn more about the upcoming marketplace.