Transaction fees may apply when you trade, deposit, withdraw, create, list, and burn NFTs on Binance NFT. These transaction fees are calculated based on various factors, which include market conditions and network status.
On BNB Smart Chain (BSC), each NFT requires a creation fee of 0.005 BNB, while for Ethereum the NFT creation fee is 0.001 ETH.
Please note that minting fees can be charged in BNB or ETH. You can check the latest BSC gas prices here and Ethereum gas prices here.
When creating a new NFT collection, Binance will automatically deploy a smart contract to ETH/BSC for you. You need to provide a wallet address for the smart contract. The person that owns this address can claim ownership and collect royalty fees for the NFT collection on Binance and all NFT marketplaces. Please note that if you do not provide a wallet address, you won’t be able to claim ownership of your collection or collect royalty fees on the DeFi marketplaces.
Gas fees are required for deploying smart contracts on the blockchain. Currently, the fees for deploying a smart contract are as follows, but are subject to change:
Once the collection is created and the smart contract has been deployed, you can change the smart contract owner. However, you will be charged a gas fee as this is an on-chain operation.
Every time an NFT is sold, a percentage of the sale price (royalty fees) will be paid to compensate the original NFT creator. Sellers need to pay a royalty fee (0-10%) to the creator, according to the royalty fee the NFT collection creator sets. You can view the royalty fee on each NFT detail page.
For NFTs minted on Binance, the same royalty fee will apply to all NFTs in the collection. Please note that you can only set the royalty fee amount during the NFT creation process.
Depositing an NFT to Binance NFT Marketplace will incur a gas fee. This fee is not paid to Binance - it goes to the miners or validators responsible for processing the transactions and securing the respective blockchain network. Please note that gas prices fluctuate according to the network traffic. 5. Platform Fee
When you sell an NFT on Binance NFT, a flat 1% platform service fee on the sale price will incur.
To transfer an NFT to other marketplaces, you must first withdraw it from the Binance NFT Marketplace to your wallet. Please make sure you have connected your wallet to Binance.
Withdrawals to crypto addresses outside of Binance NFT typically incur a transaction fee or network fee. This fee is paid to miners or validators responsible for processing the transactions and securing the respective blockchain network and not to Binance.
Withdrawal fees on Binance are dynamic and automatically adjusted depending on the network status of the corresponding network (BSC or ETH) in which the NFT asset is kept.
Note: Withdrawal fees are determined by the blockchain network traffic and can fluctuate without notice due to factors such as network congestion. Please check the actual withdrawal fee you are required to pay on the withdrawal confirmation page.
There are no fees for listing NFTs on Binance NFT.
Burning an NFT (to delete it permanently) typically incurs a transaction fee or network fee. This fee is paid to miners or validators responsible for processing the transactions and securing the respective blockchain network and not to Binance.
Burning fees on Binance are dynamic and automatically adjusted depending on the network status of the corresponding network (BSC or ETH) in which the NFT asset is kept
