Binance NFT Marketplace - A Beginner's Guide

 

Binance NFT Marketplace

Binance NFT is the NFT Marketplace launched by binance on binance smart chain. Till now, many popular NFT marketplaces are launched on the native blockchain of binance but this one is expected as the Game Changer. It is expected that the Binance NFT will bring liquidity to the  NFT ecosystem. Binance aspires to rejunivate the entire NFT ecosystem with their unique innovative approach.

Binance NFT Architecture

Binance NFT is the place for all kinds of collectibles from art to sports. It is designed to operate as a dual chain. This dual chain mechanism lets users give access to NFTs on Ethereum Blockchain via binance wallet.

One needs to login with the Binance account to get access to the binance NFT.  Binance NFT is classified as

Trading Market

Premium Events

Trading Market lets users to display their own NFTs with 1% processing fee where the Premium Events list out the curated NFT

1. Trading Market

100 Creators Event

The 100 Creator Program will fall under "Trading Market" which aims to showcase the talents of huge potential artists in various regions all over the globe.

Helen Hai, Head of Binance NFT, notes “The 100 Creators campaign was created to empower innovative but regional creators and introduce them to NFT collectors and enthusiasts around the world. We are very excited to work with these creators and hope to bring them to the mainstream of the industry.” 

NFT innovative Creators 

This NFT innovative creators program will start from the launch date for the duration of one month. It lets artists list their NFTs and earn money. Artists are provided with 99% of proceeds from the NFT sale. All the listed NFTs are shared on Binance Social Media to get more exposure

2. Premium Events

After the launch of Binance NFT, Binance will open up premium events for its audience. Yet  Binance NFT is considered as the global hub for creators, artists and collectors, these premium events will feature top-grade brands, high-quality and cutting-edge arts.

In the month of May 2021, Binance NFT announced some NFTs in the Premium Event section at the time of launch. Some of the creators listed are Trevor Jones,Michael Owen , Alphonso Davies,etc and again on the 1st of june, it announced the second slot list of NFTs which will appear in the Premium events section. 

How to Sell NFT on Binance NFT Marketplace ?

The Process of selling NFT is quite simple and straightforward. Once the NFT is created, the binance team will review it and then, they go live on the platform.

1. After the successful creation of NFT, one needs to list it

2. Add Listing in the collections

3. You will able to watch your NFT with the description you provided and some other details

4. You can set your NFT for highest bid or instant sale option

5. One can also add their desired payment options in the listing

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