The Binance platform will launch its marketplace dedicated to non-fungible tokens (NFTs) on June 24. For its inauguration, Binance selected 100 artists and creators worldwide, including NFTs from the Ternoa blockchain.
On its website, cryptocurrency exchange Binance unveiled a list of 100 artists for the launch of its brand new non-fungible token (NFTs) platform.
June 24 launch date
The launch of the NFTs platform will take place on June 24, and the inauguration will be entitled “100 Creators”. The idea is to showcase local artists and designers from around the world.
“The ‘100 Creators’ campaign was created to empower innovative but regional artists. The idea is to present them to collectors and enthusiasts of NFTs around the world. We are very excited to work with these artists and hope to bring them into the mainstream of the industry,” said Helen Hai, Head of Binance’s NFTs Platform.
During the first week of the launch, only selected artists will be able to sell their NFTs. After that, the platform will be accessible to anyone with a Binance account.
The NFTs marketplace will be made up of two offers: a premium event and a marketplace. The premium offer will allow artists to present and auction their works.
According to one of the “100 Creators” Johnny Gloom, tattoo artist: “NFTs help artists secure their work and offer them new creative perspectives, whatever medium they were initially working on.”
Significant competition within the NFT sector
Binance unveiled the creation of this NFTs marketplace last April. In this regard, the exchange promises a market rich in content by offering the best collections. In addition, the platform wishes to focus on the user experience, in particular by making it easier to use and by providing minimal transaction fees.
Artists can expect high visibility and high liquidity, as the Binance platform has a large community around cryptocurrencies.
Nevertheless, the competition is starting to become stiff in the NFT sector. Several companies have already declared their intent in taking a significant share in the NFT market.
Metaplex recently launched its NFT market on Solana blockchain, while OneOF raised more than $63 million to build an NFT marketplace on Tezos blockchain. Popular exchange FTX also recently unveiled its native NFT marketplace.