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Cryptocurrency exchange Binance announces it will open its own NFT platform

World giant crypto money exchange Binance is also joining the NFT craze. Binance will open an NFT trading platform.

Binance, the world’s largest cryptocurrency exchange in terms of transaction volume, is preparing to join the  NFT frenzy. NFTs (Non-Fungible Tokens), one of the most important agenda items of the last 6 months in the crypto money ecosystem , continue to increase in popularity day by day with the announcement that celebrities and giant companies will issue their own NFTs. 

Binance has recently announced that it is preparing to introduce the NFT platform where users can create, buy and sell NFT. According to the announcement, the platform is expected to be available in June .

Binance announced that the premium segment will cut 10% from the proceeds of major auctions and 90% will go to artists. While Binance charges a 1% “transaction fee” from the daily trading market, creators will consistently receive a 1% royalty. Regarding the issue, Helen Hai, head of Binance’s NFT project, said the following:

“Our goal is to provide the best NFT creation, purchase and exchange experience in the world’s largest NFT trading platform, utilizing the fastest and cheapest solutions powered by the Binance blockchain infrastructure and community.”

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