Launching in June, Binance’s new NFT platform and marketplace will share the same account system as Binance.com.
Binance, the world’s largest cryptocurrency exchange, is entering the nonfungible token industry by introducing its own NFT platform and marketplace.
The company announced Monday the upcoming launch of Binance NFT, a new NFT platform that is expected to start operating in June.
Based on Binance’s blockchain infrastructure, Binance NFT aims to provide minimum NFT transaction costs, Binance NFT head Helen Hai said.
The new NFT marketplace and offerings will be available to all existing Binance users, as Binance NFT will share the same account system as Binance.com.
According to the announcement, Binance NFT will debut with two main venues including a “Trading Market” allowing everyday users to create NFTs, with Binance charging a 1% processing fee.