Here are some important points to note about NFTs on Binance:
No Listing Fees: Binance does not charge fees for listing NFTs on its marketplace. This allows creators to list their NFTs without upfront costs.
1% Platform Service Fee: When an NFT is sold, Binance charges a 1% platform service fee on the sale price. This fee is deducted from the total sale amount.
Minting Fees: Binance used to have minting fees for NFT collections, but these have been adjusted. For the latest information, check Binance’s official announcements, as these fees may change.
Gas Fees: Gas fees are required when minting or transferring NFTs. These fees depend on the blockchain network and are not controlled by Binance.
Royalty Fees: Creators can set royalty fees, which Binance supports. Binance charges a 1% royalty fee on secondary sales of NFTs.
Supported Blockchains: Binance primarily supports NFTs on the Binance Smart Chain (BSC) and Ethereum networks.
Market Liquidity: Binance provides access to a wide audience, increasing the chances of selling NFTs and benefiting from liquidity.
KYC Requirements: Binance often requires KYC verification for NFT transactions, especially when dealing with higher-value assets.
For the most up-to-date information, always refer to Binance’s official announcements or support pages.