Binance NFT will sell and resell crypto collectibles and aims to build a big community with creator-friendly practices.
Binance promised “a packed lineup of premier exhibitions and NFT collaborations, along with Binance’s industry-best liquidity” that will “bring together artists, creators and crypto enthusiasts from around the world.”
Positioning Binance NFT as a creator-centric platform, the company said it will offer artists and creators “some of the lowest transaction fees in the industry.”
Both creators and resellers of NFTs on the trading market will be charged a 1% transaction fee, while receiving a 1% royalty fee for subsequent trades. Premium event artists will receive 90% of sales profits.
Binance’s CEO, Changpeng “CZ” Zhao, said:
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