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How to Buy an NFT 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, or search for specific creators’ profiles to view their NFTs under [Created], [Collected], 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.
There are two types of NFT collections on Binance NFT. Premier collections are created in collaboration with Binance NFT. Standard collections are non-verified by Binance NFT.
On the NFT marketplace, the default filter selection will only show Premier collections. To view Standard collections, click [Standard] under [Collection Type].

How to differentiate between Premier and Standard collections?

On the marketplace, ranking boards, collection page, NFT detail pages, and user profiles, Premier collections are indicated by an orange tick beside the name. Standard collections do not feature the orange tick.
If you select [Standard], you will see a message reminder at the top of the page, "Risk Reminder: You are currently viewing the Standard Collection. These NFTs are created by Binance users and have not been verified by Binance. Please do your own research on their identity, legitimacy, or authenticity, and only purchase if you are comfortable with the risks associated."
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 bid 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 any or an insufficient 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 an NFT or Mystery Box in an instant sale 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 full 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, along with a changeable quantity.
2. You’ll also find information on the number of NFTs available and their percentage chance of appearing in the Mystery Box.
Select the number of Mystery Boxes you’d like to purchase and click [Buy].
3. An [Order Detail] pop-up will appear asking you to confirm your purchase’s details. 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 should you wish.

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 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] - [User Center] - [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 the guide.