On the Binance NFT Marketplace, you can sell your NFTs and Mystery Boxes for a set price, via an auction, or by accepting buyer bids. You can accept a variety of coins as well.
You’ll also get a 1% royalty payment if your NFT is traded on the NFT Marketplace later. Depositors have the same advantage for any external NFTs they bring into the Marketplace.
The process is basic and straightforward whether you are selling an NFT you produced or one from your collection. Before it is listed on Binance NFT Marketplace, the Binance team will review your submission.
On the Binance NFT Marketplace, you can sell your NFTs and Mystery Boxes for a set price, via an auction, or by accepting buyer bids. You can accept a variety of coins as well.
You’ll also get a 1% royalty payment if your NFT is traded on the marketplace later. Depositors have the same advantage for any external NFTs they bring into the Marketplace.
The process is basic and straightforward whether you are selling an NFT you produced or one from your collection. Before it is listed on Binance NFT Marketplace, the Binance team will review your submission.
Why Use The Binance NFT market?
There are already a number of marketplaces where you may mint your own NFTs.
However, not every marketplace can draw on the size of Binance’s existing community. Binance’s NFT Marketplace makes use of the Binance ecosystem.
The marketplace will feature not only user-generated content but also works by well-known artists.
It’s simple to tap into Binance’s enormous user base and receive the highest price and value for your NFTs when it comes to selling or auctioning them. This pre-existing userbase is also beneficial for liquidity and NFT visibility.
Getting Started With Binance NFT
You’ll need to create a Binance account before you can start creating, purchasing, or selling NFTs on the Binance NFT Marketplace.
There’s no need to create a new account if you already have one with Binance to trade crypto.
If you wish to create or buy NFTs, you’ll also need some cryptocurrency (BNB or BUSD). Check out our Binance Beginner’s Guide for further information on how to add crypto to your Binance spot wallet.
How To Mint NFT On Binance Marketplace
- Start by going to the Binance NFT Marketplace homepage and clicking on [Create].
- After you’ve uploaded the image, video, audio, or anything you wish to make into an NFT, you can begin filling out the details for your non-fungible token.
Note that Binance offers the option of minting a single NFT or a collection.
- Check that you have enough BNB to pay the cost, then click [Create].
Can You Buy And Sell NFT On Binance NFT Marketplace?
Users can use their Binance account to purchase and sell NFTs on the Binance NFT Marketplace, taking advantage of the ease of having a single point of access to all of their cryptocurrency needs.
This makes it simple for users to take advantage of all of the services and capabilities offered by Binance, as well as to load their Binance wallets in order to transact on the Binance NFT Marketplace.
How To Buy NFT On Binance NFT Marketplace
I have been getting a similar question countless times from a lot of newbies on my list who are still trying to find their way on the NFT marketplace saying How do I buy on Binance NFT? if you fall in that category, then this is for you;
- To buy NFT on Binance NFT Marketplace, you first need to fund your Wallet with crypto then
- Open the Binance NFT Marketplace app or go to the website.
- Choose your desired NFT
- When you’ve found an NFT you want to buy, click its name to go to its individual page. More information on the NFT may be found here, including a description, the type of sale, the price, and other crucial factors.
- You can make a bid if you have selected an Auction sale. The NFT will be awarded to the person who placed the highest bid at the end of the auction.
- To do this, go to the next step, and click [Place a Bid].
- A pop-up window should appear, allowing you to enter your bid. Your bid must be greater by at least the minimum markup than the preceding one. When you’ve decided on a price, click [Place a Bid] to confirm.
- To buy a Fixed Price item, click either the [Buy Now] or [Make an Offer] buttons to buy the NFT right now. Your offer may be accepted or rejected by the seller.
How To Sell NFT On Binance NFT Marketplace
This feature is limited to a few artists, but it will soon be made available to all users. After you’ve generated an NFT, you may either save it to your collection or immediately begin the listing process.
You can also sell an NFT that you have acquired or transferred into your account. When it comes to selling your NFTs, you have two options: Auction or Fixed Price.
- To sell an NFT, go to [Collections] and choose the item you want to sell. To customize your sale, click the [List NFT] option.
- Choose [Highest Bid] for an auction sale. You can enter the starting price for your item in the [Minimum Bid] area.
- Select [Set Price] if you want to sell anything right away without bidding.
– You’ll then see a [Price] field where you may set the price for selling the NFT. Both of these options also give you the option of selecting which cryptocurrency you want to receive as payment.
– You should also decide when your sale will expire. This date might be up to 30 days after the listing is made.
– Make sure to include an exact explanation of NFT, as well as any other benefits, characteristics, or utility it may have.
– Consider the category it belongs to, as this will make it easier for purchasers to find your listing.
- Click [Submit] when you’re satisfied with the terms of your listing.
Before listing, the Binance staff will analyze your NFT to verify it fits our standards. Expect this to take 4-8 hours, and you’ll be notified through email or SMS when it’s finished.
You can either schedule your listing to go live at a specified time (at least 12 hours after submitting your listing request) or allow Binance to list your NFT instantly the following approval.
FAQs On The Binance NFT Marketplace
What is a mystery box?
A Mystery Box allows you to choose a random NFT from a collection. Each NFT is classified as normal (N), rare (R), super rare (SR), or super rare (SSR) (SSR).
You don’t have to open the Mystery Box right away after purchasing it. You can exchange it without opening it or open it whenever you wish.
A Mystery Box cannot be returned once purchased. You can, however, list it on the NFT Marketplace and sell it.
What Are Events On Binance?
The Events category on the Binance NFT Marketplace offers NFTs that are special and premium in nature, made by well-known creators and businesses.
These submissions come from digital artists, musicians, athletes, and celebrities, among other people. To visit the [Events] page from the homepage, click on [Events], which will display the event’s information on the homepage banner.
Final Thoughts On Buying And Selling On Binance NFT Marketplace
Selling your NFT as a creator or buying as an investor on Binance will give you the opportunity to explore the blockchain large market.
It is safe to say that Binance is a premium NFT marketplace.
