Breaking News: Binance to launch NFT marketplace in June, what are the advantages it brings to the table?

Binance announced new developments at 7 p.m. on the 27th. According to the announcement, the exchange Binance will launch a NFT marketplace in June.

Can Use Binance Account, Exclusive Content

Compared to existing NFT market platforms like Opensea, Nifty, Rarible, Foundation, Binance's advantage lies in its large existing user base in the cryptocurrency market.

As a result, we see Binance announcing that this platform will be integrated with Binance exchange accounts, becoming part of the Binance ecosystem. Additionally, Binance also mentioned that they will launch unique NFTs and exclusive collaborations.

Main Interface Divided into Two Categories

Binance stated that on this platform, in addition to global auction events and exhibitions, the NFT marketplace will be divided into two interfaces: one is the Premium Event, which will feature the most sought-after digital collectibles, and the other is the Trading Market, which allows regular users to easily create NFTs at minimal cost.

Key Features: Low Commission, Royalties

Currently, mainstream NFT platforms have commission mechanisms ranging from about 2.5% to 30%. Binance stated that in the Premium Event, 90% of the profits will go to the creators. In the auction of the Trading Market, there will be an extremely low commission of only 1%, and both creators and auctioneers can earn a 1% royalty in subsequent resale transactions. This means that when an NFT changes hands multiple times, the original creator or the Binance platform auctioneer can receive a certain fee.