Binance to Launch NFT Marketplace

The Bitcoin exchange Binance will launch an NFT marketplace in June, according to company representatives.

Existing exchange users will gain access to the new service. They will be able to create tokens and trade them through their Binance accounts.

“Users will be able to create, issue and transfer artworks from various blockchains. During exclusive events, individual pieces will be exhibited at prestigious galleries and auctions,” said Binance representatives.

The platform’s commission on sales at exclusive events will be 10%. The authors will receive the remaining proceeds. Binance’s processing fee will be 1%.

“Authors and depositors will receive a 1% royalty on an ongoing basis, which should spur the creation of new and valuable NFT tokens and provide authors with additional royalty compensation,” the company said.

On the проекта Binance NFT artists and creators will be able to contact the Binance team with collaboration inquiries. A mobile version of the marketplace will be available later.

Earlier, CoinGecko released a limited collection of non-fungible tokens tied to ForkLog’s online conference “NFT Fever: Tokenisation of Art”.

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