Binance cryptocurrency exchange has announced the launch of its own marketplace for creating and exchanging non-fungible tokens (NFT). The opening of the site is scheduled for June. Users are promised low fees, high liquidity, and an improved user experience.
After a spike in hype in February and March, interest in the NFT space has weakened, which is reflected in the decline in prices, trading volumes and the number of searches on Google. The company called the decision a “strategic step” in line with its vision of “the fundamental value and potential of NFT in the long term.”
“We are committed to building the largest NFT trading platform in the world based on the fastest, cheapest and most secure blockchain infrastructure and ecosystem solutions from Binance,” the company said. The exchange expects its platform to attract “millions of potential NFT collectors from around the world.”
Binance’s NFT platform will allow creators to exhibit and auction their work at specialized events. For this, the exchange will charge a commission of 10%. In addition, it will be possible to independently issue NFTs on the platform, as well as transfer existing tokens to it for sale. In this case, the commission will be 1%.
The main blockchain for the platform will be Binance Smart Chain, and it will also support Ethereum. In the future, the exchange may integrate additional networks such as Tron, Flow and Wax. Binance invites the creators of NFT to contact her now to discuss potential cooperation.
Also today, Binance announced the end of support for transactions on the OMNI protocol. OMNI is based on the bitcoin blockchain and was the first protocol used by Tether to issue its stablecoin. Over time, Tether tokens have moved almost entirely across the Ethereum and Tron networks. Withdrawing USDT from Binance via OMNI now costs $ 28, while the commission for the Tron blockchain is only $ 1.
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