Fellow Binancians,
To address feedback received about the NFT minting feature from our community, as well as to prevent the creation of low-quality NFTs and misuse of this feature, Binance NFT has reviewed and will be updating NFT collection minting fees and the required minimum number of followers on Binance NFT user profiles to mint NFTs. The changes will take effect on 2023-02-15 at 23:59 (UTC).
We do this because we believe this helps to ensure that users can buy quality NFTs of a high level of standard we expect on Binance NFT Marketplace, and to protect the rights and interests of Binance NFT users.
In line with this, we also periodically review listed NFT collections to ensure that it continues to meet the high level of standard we expect. If an NFT collection does not meet the standard we expect, Binance NFT may conduct a more in-depth review and potentially take the NFT collection down from Binance NFT Marketplace.
After the update:
- All verified users who have at least ten followers on Binance NFT can mint NFTs.
- Each NFT collection is required to pay a fixed NFT collection minting fee, which includes a smart contract deployment fee and service fee. The NFT collection minting fee is charged as shown below:
- Ethereum (ETH): 0.50 ETH
- BNB Smart Chain (BSC): 1.00 BNB
Learn More About Binance NFT Marketplace:
- How to Get Started with the Binance NFT Marketplace
- How to Create Your NFT on Binance NFT Marketplace
- What Are the NFT Transaction Fees on Binance
- How to Report Violations on Binance NFT
Please note:
- From now until 2023-02-15 23:59 (UTC), users who have completed identity verification and have at least two followers on their Binance NFT user profile can still mint NFTs on Binance NFT Marketplace.
- Users can report NFTs and NFT collections that potentially violate Binance NFT’s Minting Rules and Terms of Service to Binance NFT. The moderation team will actively investigate any user report of fraudulent or malicious content before taking necessary action.
- Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Join the Binance NFT Community on Telegram, or follow Binance NFT on Twitter and Instagram for the latest news and updates.
Thanks for your support!
Binance Team
2023-02-10
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
Risk Warning: The value of your NFT may go down or up. NFTs are subject to high market risk. Binance is not responsible for verifying the identity, legitimacy or authenticity of any NFT. NFTs are not regulated in most countries, however please ensure you are permitted to access our Binance NFT Marketplace based on your circumstances. For further details, see the Binance NFT Terms and Conditions, our Terms of Use and Risk Warning.