Before we get into the main topic, I will briefly explain what NFT (Non Fungible Token) is.
NFT is a crypto technology such as digital certificates on photos, videos or other virtual forms that are owned by a party. Which provides protection for the authenticity of someone’s work so that it is not easy to duplicate, because every asset in the NFT will be automatically recorded in the Blockchain. Having a certificate here indicates that the work contained in the NFT is something valuable or has a good selling value. and guaranteed authenticity that comes only from one party.
What is the Binance NFT Marketplace?
NFT is one of the newest trends in the cryptocurrency world today. This is evidenced by the 101 Borred Ape NFT which was sold for $24.4 Million. The very expensive price attracts a lot of cryptocurrency users, even people who previously did not know what NFT and cryptocurrency were.
Some users may already be familiar with some Marketplaces like OpenSea, Rarible, SuperRare, Foundation, AtomicMarket, Mmyth Market, BakerySwap and others where users can trade their NFT works publicly. Binance is not left behind as one of the largest exchanges in the world in following this new trend in the cryptocurrency world. In response to this new trend, Binance also created a marketplace called the Binance NFT Marketplace.
Despite the proliferation of this NFT trend, there may still be many who do not fully understand what the NFT Marketplace is. Therefore, let’s find out more about what the NFT Marketplace is, specifically the Binance NFT Marketplace.
Binance NFT Marketplace is a centralized NFT marketplace in the world’s largest cryptocurrency ecosystem. Through this NFT Marketplace, Binance users can create, buy, or sell their NFT works through this marketplace. There is no doubt about the Binance NFT Marketplace in terms of quality, the best liquidity and low fees for conducting transactions, which are one of the advantages of this NFT Marketplace. In addition, for Binance users, they no longer need to bother to create a new account because they can access the Binance NFT Marketplace with the same account as the account registered with Binance.
What kind of NFTs can users collect on Binance NFT?
What features are available on the Binance NFT marketplace? In addition to the Marketplace feature where users can create, sell, or buy NFTs, the Binance NFT Marketplace also provides 2 other features, namely Premium Events and Mystery Box. Through the Premium Events feature, Binance NFT Marketplace users have the opportunity to be able to purchase premium and exclusive NFTs created directly by leading global artists, prominent people, and world famous brands.
Naturally this NFT will have a higher value than other NFTs. In addition, the last feature provided by the Binance NFT Marketplace is the Mystery Box. This mystery box contains one random NFT with different levels. Users can get normal (N), rare (R), super rare (SR), and super super rare (SSR) NFTs. Users can purchase this mystery box feature at a pre-set price.
What are the benefits users can receive from Binance NFT?
Binance always provides convenience for its users, as we know that to browse the ecosystem we only need one account, and this account can also participate in accessing NFT, so we no longer need to bother to create a new account.
And for artists who want to use the experience or users who usually only buy but this time want to try to enter the world of the crypto market place, you too can join here. Don’t hesitate to work with binance nft, because they have a cheap platform price, namely only 1% and not only the payment system also has a high quality, so there is no need to worry about the payment if any of your works are sold.
As previously explained, Binance NFT has 3 features, namely: Marketplace, premium events, and mystery boxes. And one thing you need to know is that, in this millennial era, Binance NFT is the only marketplace that has a mystery box feature. This will be a new excitement in the flow of buying and selling in the online crypto world. So for sellers who use the NFT platform, there are many ways to sell books. But here it is not certain that your work will sell quickly or be sure to sell, because everything is back again with the quality of your work.Berikut ini beberapa keuntungannya :
- Low fee : 1% platform fee with the highest liquidity
- Convenience: Users can access the full Binance
- ecosystem (including Binance NFT) with a single account.
- Variety: Marketplace, Premium Events & Mystery Boxes
- Exclusivity: Binance NFT is the first-and-only NFT
- marketplace to launch the Mystery Box feature
How to Buy and Sell an NFT on Binance NFT Marketplace
The first thing you have to do is register a binance account via this link https://www.binance.me/id/register?ref=TAXF5KHD
Required to perform level 2 identity verification (KYC)
After the account is verified you can use all the features on Binance
Here I will explain how to buy and sell NFT on the Binance NFT marketplace.
Buying NFT at auction price
Then look for the NFT menu
select the nft you want to buy
You can adjust the price of the nft to be purchased, then click the place a bid button
The highest bid price at the end of the auction will be the winner and will be entitled to the NFT.
Note: make sure you have enough balance in your spot account.
Buy NFT at Fixed price
Buying fixed-price NFTs is much faster than the auction format. You simply search for which nft you want to buy, then click the Buy Now button
Buying NFT with Mystery Box format
For the mystery box format there are 4 types of NFT in it. There are super super rare (SSR), super rare (SR), rare (R), normal (N). This mystery box is different from the auction format and price fixed, because this mystery box nft randomly contains 4 types of nft in it.
Please visit the following page https://www.binance.com/id/nft/blindBox
The following is information about the number of nft and their types, as well as the percentage odds.
Now you can buy how many mystery boxes you want.
Then click confirm.
After buying the mystery box, please open it immediately or you can add it to your collection.
How to sell an NFT on binance NFT Marketplace.
Selling NFT on binance NFT markelplae is very easy, we can set the price according to what we want, using a fixed price or using an auction price.
Selling at a fixed price
Please select the NFT you want to sell, then click List NFT
Then please set the price you want.
After that click submit.
Continue to click confirm.
You will receive an NFT notification email from binance.
Selling NFT at Auction price
Choose the nft you want to sell
Click List NFT
Then select the highest bid
Please adjust the minimum price for the nft you are going to sell.
After you set the price click confirm.
Fortunately, the auction format of the highest bidding price will be the winner.
This is an explanation of the features in the binance NFT marketplace.
Hope it is useful.
Binance NFT marketplace : https://www.binance.com/en/nft
Binance NFT mistery box : https://www.binance.com/en/nft/blindBox
Binance NFT market : https://www.binance.com/en/nft/market
Signup binance here : https://www.binance.com/en/nft/market