Binance To Launch NFT Marketplace in June, 2021 16

Binance To Launch NFT Marketplace in June, 2021

  • Binance has confirmed it will be launching an NFT marketplace this June
  • The marketplace plans on bringing together artists, creators and crypto enthusiasts from around the world
  • Binance has not revealed whether the marketplace will be exclusive to the Binance Smart Chain
  • Chances are, that the marketplace will feature on Ethereum and possibly other blockchains

The team at Binance has confirmed that the exchange will be launching an NFT marketplace this June. This comes less than a month after the exchange’s CEO, CZ, hinted that such a move was in the pipeline.

The NFT marketplace will feature a ‘Premium Event’ category and a regular ‘Trading Market’.  The first category will be for the most sought-after collaborations with the latter category allowing Binance users to create NFTs easily without incurring significant costs on their end.

Binance NFT will Become the Premier Destination for NFTs

Dubbed Binance NFT, it is expected to become the largest NFT marketplace and trading platform given the global reach of the exchange. According to the official announcement, the Binance NFT marketplace will be ‘the premier marketplace for NFTs and digital collectibles across mediums, from visual arts and gaming to music and sports’.

Binance Users Will Use their Regular Accounts on the NFT Marketplace

The team at Binance went on to explain that Binance NFT will be a compelling metaverse that will bring together artists, creators and crypto enthusiasts from around the world. Furthermore, the NFT marketplace will be conveniently linked to the regular user trading accounts on Binance thus providing a seamless experience.

No Revelation Whether it Will be Exclusive to the Binance Smart Chain

At the time of writing, the team at Binance is yet to reveal whether the new NFT marketplace will be exclusive to the Binance Smart Chain. However, given that BSC is compatible with Ethereum, chances are that the NFT marketplace at Binance will feature auctions on the two networks.