Binance NFT Marketplace Will Launch in June - Going To The Next Level

in LeoFinance3 years ago (edited)

Binance is launching a separate market for the creation and trading of NFTs.

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The launch event is scheduled to take place in June, according to today's Binance announcement. The most important exchange added that the platform will offer users low commissions, high liquidity, and a better user experience.
The news comes at a time when activity in the NFT field is declining. Weekly NFT trading volumes have fallen significantly since their peak in February, according to The Block. NFT platform users and weekly transactions also declined.
Binance thinks this is a "strategic move" for their exchange, as they believe in "the core values and potential of long-term NFT applications", as one of their spokesmen told Press.

The two main features

The Binance NFT platform will offer two main features: premium events and trading. Premium events will allow creators to display and bid on their work on the platform. Binance said it will charge a 10% fee for these events, and 90% of the proceeds will go to the creators as a profit.

In terms of the trading feature, the platform will allow creators to create their NFT, as well as allow users to present their existing NFT on the platform for sale or auction. Binance said it would charge a 1% processing fee, and the creator or sender would "continuously receive 1% royalties."

According to the spokesperson, the Binance NFT platform will support "primarily" the Binance Smart Chain and Ethereum. However, "through our development, we will probably support blockchain networks such as Tron, Flow, Wax, etc."

The platform currently invites artists and creators to collaborate through its website. Binance said that mobile versions of the platform (both iOS and Android) will be released soon.

Earlier this month, Binance also collaborated with Media Publishers, the publisher of Vogue Singapore, to help them build an NFT platform to focus on the fashion, art, and music industries.

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I believe that expanding their focus is a good strategic move.

I'll be curious to see how this goes.

***What do you think? ***

Thank you for reading!

With respect and research,
@regenerette

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How good you are, I think you are an incredible person and reading what you write and how you write it, you can see that you are very special, keep it up and that no one change you.

Greetings


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Thanks, Thranax!

This is powerful feedback and it matters a lot to me.
I appreciate that you took the time to read this and that you left this comment.
Respect,
@regenerette

I feel that's a lot of bullish momentum for artists who are into NFT's, Binance has a large growing community and knows how to play the marketing game so I'll say the 10% fees aint so bad, you artists have so much work to do and so much money to make. Remember me in your kingdom mighty artist!

Are you familiar with other showrooms? Which one has been the best for you on terms of sales and ease of use?

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Hey!

Thanks for reading!

I am not an NFT artist. I have created several NFTs and have 2 minted on NFTShowroom just for fun.
And I am waiting for the proper moment when NFTs will encompass maybe digital ebooks or more so I can jump in with my materials.

This article is to inform others in a proper time frame so that they might want to use Binance and be amongst the first ones on Binance to start selling their NFTs.

Ty soooo much for reading and commenting!

Oh okay, you struck me as an artist i follow on twitter, but nice to meet you nonetheless..

Youre welcome....

Ofcourse they will support Tron, they sleep in the same bed eww

Who are you on twitter? Let me know here or there so I can tag you sometimes and put you in my private Hive list there.

I do have an old Deviantart photography portfolio and did some sfw and NFTs, but I am just a passionate person. I do't know if I am an artist hihi! Thank you for the appreciation!

Hugggs!

I am making lots of BitcoinCash just sharing my Digital Artwork on Noise.Cash ... no fees at all.

Give me the link to your art page. Let me have a look when I have more time.

Awesome. I’ll sell all y NFTs there ..... I need more BNBs

Good luck!

That sounds like positive news indeed. I will certainly be keeping an eye out on a Binance NFT launch as I already use and like their platform.

I wonder if any other LeoFinance users are into creating NFT's and could help me. Do you have any advice on what software or blockchain to use? I have an idea about a set of NFT's that I would like to create. Images are relatively easy, but how do you "encrypt" information that only the buyer(s) can see? Or how do you create an NFT from an mp3 or video?

n.b. I have only created two basic NFT's on the WAX network as a trial so I am very new to this, but I do like it as a creative outlet :-)

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I have 2 on NFTShowroom.
I have also managed to create video nfts by creating either gifs or swfs and adding videos and then converting them. Or from creating videos in Camtasia and others, adding audio, and converting them after.
Thank you for reading and for your feedback!