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How to Buy NFTs on Binance NFT Marketplace

2021-06-23 11:45
You can now buy NFTs and Mystery Boxes on the Binance NFT Marketplace using a fixed price, by making an offer to the seller, or by bidding in an NFT auction.

How to find NFTs on the Binance NFT Marketplace?

You can find NFTs by exploring the Binance NFT Marketplace. You can also search for specific creators’ profiles to view their NFTs under [Created], [Collected NFTs], and [Favorites]. If an NFT/Mystery Box is listed, you can buy it directly using the fixed price or bid in the NFT auction. If the NFT/Mystery Box is not listed, you can make an offer to the seller.

What are Premier and Standard collections?

There are two types of NFT collections on Binance NFT - Premier collection and Standard collection. NFT collections may be eligible to be listed under the Premium collection depending on various factors, including but not limited to sale volume, trading volume, and the number of followers on Binance NFT and other social media platforms. All other NFTs are listed under the Standard collection.
On the NFT marketplace, the default filter selection will only show Premier collections. To view Standard collections, click [Standard] under [Collection Type].
Premier collections are indicated by an orange tick next to the NFT’s name on the Marketplace, ranking boards, collection page, NFT details pages, and user profiles, while NFTs from the Standard collections do not have an orange tick.
Regardless of whether you are viewing the Standard Collection or the Premium Collection, please read the “Risk Reminder” at the top of the page carefully. It is your responsibility to do your own research and due diligence on any NFT on the Binance NFT platform (whether from the Standard Collection or Premium Collection), on aspects including but not limited to the identity, legitimacy, quality, value, or authenticity of the NFT, and only make purchases if you are comfortable with the risks associated. Binance is not responsible for any losses suffered from any sale or purchase of any NFTs on the Binance NFT platform. For more details, please refer to Risk Warning.
You will also see this message on the NFT details page if the NFT you’re viewing belongs to a Standard collection.
If the NFT you’re viewing has been reported more than 5 times, you will see this message, "Risk reminder: This item has been frequently reported.". Please DYOR before making any NFT purchases.
NFT purchases are subject to a simple fee structure that supports creators. For NFTs created on our platform, NFT creators will receive a 1 - 10% royalty fee from all subsequent trading.
To purchase an NFT, you’re going to need a Binance account. It’s simple to do in less than five minutes.
To learn more on how to get started on Binance, please refer to How to Get Started on Binance to Trade Binance NFTs.

How to bid in an NFT auction?

You can place a bid once you’ve found an NFT/Mystery Box for sale using the Auction sale method. The highest bidder at the end of the auction can purchase the item.
1. Go to the listing page and click [Place a Bid].
2. Enter your bid amount in the pop-up window. Please take note of the minimum markup. It refers to the minimum amount you need to increase from the last bid to place your new bid. Click [Place a Bid] once you’ve input the bid amount.
3. If you don’t have a sufficient balance in your Funding Wallet, you will be prompted to top up. Currently, you can use BNB, BUSD, or ETH to interact with Binance NFT Marketplace.
4. Once you’ve successfully placed your bid, you’ll see a confirmation pop-up. Please note that once you have placed a bid, it cannot be canceled, and your funds will be locked until another user places a higher bid or when the auction ends.

How to buy a Fixed-Price NFT or Mystery Box?

Purchasing a fixed-priced NFT or Mystery Box is simpler than placing a bid in an auction. Once you’ve found the item you want to buy, click [Buy Now] to pay the price.

How to buy a Mystery Box?

A Mystery Box contains a surprise NFT that is only revealed when you open the box. There are four kinds of NFT you might find: Super Super Rare (SSR), Super Rare (SR), Rare (R), and Normal (N).
1. Go to [Mystery Box] and you’ll see a fixed price for each box.
You’ll also find information on the number of NFTs available and their percentage chance of appearing in the Mystery Box.
2. Select the number of Mystery Boxes you’d like to purchase and click [Buy Now].
3. An [Order Detail] pop-up will appear, asking you to confirm your purchase, along with your payment method and payment currency. Click [Confirm] once you are happy with the transaction.
4. After purchasing your Mystery Box, you can either open it straight away or add it to your collection. Note that Mystery Boxes are non-refundable. However, you can sell the Mystery Box on the Marketplace or open it and sell the NFT inside.
To view your Mystery Box, click [Collected NFTs].

How to make an offer on NFTs or Mystery Boxes?

To provide more flexibility for buyers to purchase NFTs and Mystery Boxes, Binance NFT introduced a [Make Offer] function. You can make offers to the seller on fixed-price NFTs and Mystery Boxes easily.
1. Go to the NFT or Mystery Box you wish to buy and click [Make Offer].
2. Set your offer’s asset, price, and expiry date, then click [Confirm]. Please note that the minimum price for an offer is 1 BUSD, and you can only make 1 offer for each NFT/Mystery Box. The validity period for an offer should be at least 24 hours and should not exceed 1 month.
The offer amount will be frozen from your Funding Wallet. Your assets will be automatically released when the offer is canceled or expired.
If your account balance is insufficient, click [Buy Crypto/Deposit].
3. To view your offers, go to [Profile] - [Offers] and click [Offers Made].
Please note that you can only have a maximum of 20 active offers. To make new offers, please cancel some of your active offers first. You can cancel an offer by clicking [Cancel], and your assets will be automatically released.
You can choose to sell your NFTs and Mystery Boxes using a fixed price, an Auction, or accepting offers that buyers make. You can also accept payments in several different cryptocurrencies. For more details, please refer to this guide.