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How to Sell an NFT on Binance NFT Marketplace

Binance
2021-06-23 11:43
For your sale, you can choose from an Auction or Fixed Price format and take payment in several different cryptocurrencies.
  • As a Creator, you’ll also receive a 1% royalty payment for any subsequent trading of your NFT on the platform. Depositors also enjoy the same benefit for any external NFTs they bring into the Marketplace.
  • And if you already own an NFT, you can list and sell it to others by heading to the [NFT Asset] page. Make sure you are looking at the [Collections] section, and click the NFT you would like to list.

How to sell your NFT on Binance NFT Marketplace

Whether you are selling an NFT you created or one in your collection, the process is similar and straightforward. You’ll firstly need to make a few straightforward decisions about the type and length of the sale. After this, the Binance team will review your submission before listing it on Binance NFT Marketplace.

Listing after creating an NFT

One of the most exciting features for creators on the Binance NFT Marketplace is minting non-fungible tokens. Although other platforms let you create NFTs, Binance is the largest crypto exchange allowing you to quickly mint non-fungible tokens. Currently, pre-approved creators are allowed to mint NFTs using the platform. In the near future, this feature will open up to all registered users.
Once you have successfully created an NFT, you’ll now see the [Minting Completed] screen. Click the [List NFT] button to head to the listing options. Head to the Setting up your listing section of this FAQ to continue.

Listing an NFT in your collection

If you want to list an NFT you already own, head to the [NFT Asset] page. Make sure you are looking at the [Collections] section, and click the NFT you would like to list.
You’ll now find yourself on the NFT’s [Description] page, showing you a description of your NFT (if available), as well as its Bid History and Provenance. Click [List NFT] to navigate to the listing options for your NFT sale.
Please note that descriptions can only be added when minting an NFT. It cannot be edited after the NFT is created. When you resell an NFT, you cannot edit the description.
List an NFT
List a Mystery Box

Setting up your listing

The first choice to make is whether you would like to auction your NFT with the [Highest Bid] option or have an instant sale using [Set Price]. Let’s begin by taking a look at the auction options available.
Once you’ve clicked [Highest Bid], you’ll need to set the minimum bid for your sale. This is the price where the bidding will start. To the right, you can also choose the cryptocurrency you would like as payment.
If you’d like to run a Set Price sale, click the [Set Price] button to change the sale options available. Instead of setting a minimum bid, in this case, set the price you would like someone to be able to pay for your NFT instantly.
As mentioned in the previous example, you can also choose the cryptocurrency you’d like as payment. Click the crypto logo on the right-hand side to see the list of available crypto.
The next step is to specify the date and time the Auction or Fixed Price sale will end, limited to no more than 7 days from the time of listing. Choose a suitable category for your NFT that best matches it. Categorizing your NFT well will help buyers find your NFT more easily.
Next, write a fitting description for the NFT. Make sure to include any extra features it might have, like, for example, any utility it may have in a game.
Finally, make sure you read and understand the fees associated with selling your NFT. You’ll see these just above the [Submit] button. When you’ve taken in all the information, click the [Submit] button.

The Binance team will manually review every NFT before listing to ensure it meets our standards. This process usually takes 4-8 hours.
You can also customize your NFT's listing time, starting a minimum of 12 hours from the time you submit your listing request. If, however, the review is still not complete by your desired listing time, we will list your NFT immediately after our approval.
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