What is the Binance NFT marketplace?
The Binance NFT marketplace is a marketplace that features all forms of digital artworks and collectibles. Powered by the Binance blockchain infrastructure and community, the Binance NFT marketplace provides the highest liquidity platform for users to launch and trade NFTs.
What is a Non-fungible Token (NFT)?
A non-fungible token (NFT) is a type of digital token that represents a unique asset. These can either be entirely digital assets or tokenized versions of real-world assets. As NFTs are not interchangeable with each other, they function as proof of authenticity and ownership within the digital realm. To learn more about NFT, please refer to the Binance Academy article“A Guide to Crypto Collectibles and Non-fungible Tokens (NFTs)”.
How to get started with Binance NFT Marketplace?
The Binance NFT Marketplace brings together artists, creators, and crypto enthusiasts on a single platform to create and trade NFTs. The platform features 3 product lines:
- Marketplace: Mint, sell, bid, and purchase NFTs from creators around the world.
- Events: Buy premium and exclusive NFTs created by leading global artists and the most influential names and brands. Events will include offerings from digital artists and musicians, as well as athletes and celebrities.
- Mystery Boxes: Each Mystery Box is guaranteed to have one random NFT inside. Open for a chance to win a normal (N), rare (R), super rare (SR), or super rare (SSR) NFT.
*Please note, you cannot return a Mystery Box after purchasing it for any reason, but you can trade the NFT or the unopened Mystery Box.
If you‘re new to Binance, you can get started in 4 quick and easy steps:
- Step 1: Register Binance Account
- Step 2: Complete verification
- Step 3: Deposit or buy crypto
- Step 4: Trade NFTs on Binance NFT Marketplace
*Please note: users do not need to complete identity verification to trade NFTs. Simply open a Binance account to begin buying and selling NFTs on the NFT Marketplace. However, users may need to complete certain levels of verification to increase their respective deposit and withdrawal limits.
To learn more about how to get started on Binance, please refer to：
- NFT Marketplace Beginner’s Guide
- Binance Beginner’s Guide
- Binance Academy article：Getting Started with the Binance NFT Marketplace
Frequently Asked Questions
1. How do I get an NFT account?
You can use your regular Binance account to access the Binance NFT Marketplace. If you are not a Binance user, you need to create a Binance account first.
2. Which cryptocurrencies can I use to buy or trade NFTs on the Binance NFT Marketplace?
The Binance NFT Marketplace supports BNB, BUSD, and ETH.
3. Does Binance NFT Marketplace allow users to deposit and withdraw NFTs?
Currently, we do not support the deposit or withdrawal of NFTs. However, all these features are in development and will be available soon.
4. Can I mint NFTs on Binance NFT Marketplace? How can I create and list my NFTs?
Currently, the minting feature is only available to selected Binance artists and partners. In the near future, all Binance users will be able to create and mint their own NFTs. For more details and updates, please refer to the Binance announcement channels.
5. Do I need complete identity verification before I trade NFTs?
No, you do not need to complete identity verification to trade NFTs. Simply open a Binance account to begin buying and selling NFTs on the NFT Marketplace. Please note that you may need to complete certain levels of verification to increase your respective deposit and withdrawal limits. The limits vary for different countries. To learn more, please visit: “How to Complete Identity Verification”.
NFT: stands for non-fungible token. It’s a digital token that represents unique assets that can be used as proof of authenticity and ownership over digital and tokenized physical assets.
Mint: the act of creating or issuing a non-fungible token (NFT).
Binance Smart Chain (BSC)
Binance Smart Chain (BSC)：a blockchain that runs in parallel to the Binance Chain (independently). BSC enables smart contract functionality and is compatible with the Ethereum Virtual Machine (EVM). BSC makes it easy for developers to create tools and DApps or to port their projects over from Ethereum.
BNB (Binance Coin) is a utility token that powers the Binance ecosystem. It is the native coin of the Binance Chain and the Binance Smart Chain. Please note that to mint NFTs on the Binance NFT Marketplace, you need to pay the corresponding fees in BNB.
BEP-721: Released in late 2020, BEP-721 is Binance’s NFT token standard, which runs on the Binance Smart Chain. Note that you cannot use BEP-721 tokens on the Ethereum network.
Mystery Box: a box that contains a random NFT. Open for a chance to win a normal (N), rare (R), super rare (SR), or super super rare (SSR) NFT. You can also trade unopened Mystery Boxes if you wish.