Binance to Launch NFT Marketplace in June
Binance, the largest crypto exchange, has announced its plans to launch a non-fungible token (NFT) marketplace in June. The marketplace will run mainly on the Binance Smart Chain (BSC) but it will also support the Ethereum network.
The marketplace is aimed at creators and traders of NFT collectibles such as digital art, music, sports and more. Binance will facilitate the auctioning of premium works and creators will pocket 90% of the proceeds, with a 10% cut going to Binance. Users will be able to buy, sell and deposit NFTs for a 1% processing fee, but the creators will subsequently receive a 1% royalty from proceeds.
