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.
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’.
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.
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.