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Binance Set to Launch NFT Marketplace in June

Binance is planning to launch an NFT marketplace and trading platform in June, the exchange said in a post.

Binance NFT aims to offer high liquidity and low fees for NFT transactions. The two main venues available at launch will be a “Premium Events” category for exclusive artist collaborations and exhibitions, and a “Trading Market” where any user can mint their own NFTs at minimal cost . 

Artists featured in “Premium Events” will receive 90% of their NFT sale profits on the platform. Any NFT traded on the marketplace will be subject to a 1% processing fee, and the original creator will receive a 1% royalty on any aftermarket sales. Binance NFT will use the same account system as Binance.com.

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