Binance Launches NFT Marketplace

Fascinatingly, the Binance NFT marketplace went live on June 24. Following this, Binance users can now buy and bid on non-fungible tokens (NFTs). Note that at the moment, minting of NFTs is only available to select artists and partners.

 

It is worth noting that the Binance NFT marketplace also offers exclusive premium events like exhibitions and mystery boxes. Mystery boxes give users a chance to win normal, rare, and super rare NFTs. Amazingly, users do not have to go through identity verification to trade NFTs. Likewise, users can buy NFTs using BNB, BUSD, and ETH.

 

 

 

Earlier in June 2021, Binance announced its collaboration with 100 creators who would feature their content on the marketplace. Osinachi, an African actor, is one of those creators.

 

 

 

The premium auction, titled “Genesis,” will feature two pieces of artwork: a community artist’s tribute to Andy Warhol’s “Three Self Portraits,” and a redesigned NFT version of Salvador Dali’s “Divine Comedy: rebeget” that will feature in the pattern of the artwork the bitcoin symbol, Binance CEO Changpeng Zhao’s signature (CZ), and the Binance logo. However, these symbols are only visible when zooming in.

 

In addition, the auction will also include a series of Binance NFT “Mystery Boxes” featuring 16 collectible Tokidoki characters. Tokidoki is an international lifestyle brand that was created by Simone Legno which debuted in 2005 and is well known for its cute, cartoonish characters.

 

The Binance NFT marketplace will run primarily on the Binance Smart Chain, but will be supported by the Ethereum network as well.

 

According to The Block, a company spokesperson said that Binance aims “to build the largest NFT trading platform in the world by leveraging the fastest, cheapest, and most secure NFT solutions powered by Binance blockchain infrastructure and community.”

 

The launching of the Binance NFT Marketplace comes at a time when trading volumes and transactions on NFT platforms have been steadily falling after spiking at the beginning of the year.

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