Binance also joins the trend of the moment in the world of cryptocurrencies. This Tuesday, April 27, the exchange announced the creation of its own platform for trading non-fungible tokens, the famous NFT collectibles.
As of June of this year, the platform, called Binance NFT, will come into operation. The company itself stated in a statement that the goal is to create “the most attractive metaverse with unique offers and exclusive collaborations.”
Binance NFT seeks to bring together artists and creators of all stripes, as well as enthusiasts from the world of cryptocurrencies. The platform will start operating with two markets: one “premium”, which will highlight “the most requested collaborations”; and a marketplace where users can create their own NFTs.
In the case of the collections that will be included in the Premium market, the creators receive 90% of the profits generated by their sales. In the general market, users will be able to choose to auction or sell their NFTs directly. Binance keeps 1% commission for operations in that market.
Our new global market will become the premier destination for NFT and digital collectibles in all media, from visual arts and games to music and sports.
“Binance NFT will share the same account system as Binance.com, allowing users to access the market alongside our other ecosystem offerings,” the company added in its statement.
Helen Hai, Director of Binance NFT, said her intention is to “provide the world’s largest NFT trading platform with the best minting, buying and trading experience, taking advantage of the fastest and cheapest solutions powered by infrastructure and community. of the Binance blockchain.
NFT market remains booming
The arrival of Binance in the world of NFTs seems to envision a scenario of greater growth for this ecosystem, taking into account the scope of the exchange, whose daily trade volume far exceeds the rest of companies dedicated to the exchange of cryptocurrencies.
Already platforms such as CryptoPunks, NBA Top Shot and OpenSea together move about 8 million dollars in 24 hours, according to data from DappRadar. Only between these three markets, nearly 270 million dollars were traded in the last 30 days.
These figures demonstrate the reach that the world of NFTs has had recently, as reported by CryptoNews. The rise of NFTs has sparked the interest of artists like rapper Emimem, former employee of the US National Security Agency Edward Snowden, and sports leagues like MLB. And now, that interest is consolidated by attracting the largest exchange by volume in the ecosystem, Binance.