Last updated on March 22nd, 2023 at 07:29 am
Introduction
Looking to create and list your NFT in the market?
Binance is the largest crypto exchange with its own NFT marketplace. You can List NFT on Binance and get the chance to showcase your creation on one of the largest NFT marketplaces.
NFTs are the hottest trend in the decentralized world. What once was considered a mere bubble is now a multi-billion dollar market.
NFT transactions were around $40 million in 2018 which went to $338 million in 2020. It was a surprising 8 times increase in just two years. The NFT market exploded and touched $41 billion in 2021.
If you want to know more about Non Fungible Tokens(NFTs), do read our article here
Investment bank Jefferies even predicted that the NFT market will reach $80 billion by 2025. Observing the craze of NFT worldwide, experts even believe that the NFT market will even surpass the current crypto market in the coming days.
Huge Money in NFTs
NFT artists are making huge money by selling unique NFTs on marketplaces. NFTs have become a source of income for many. On average, an NFT artist earns thousands of dollars from one collection. However, if it’s an established artist and his NFT is quite magnificent he is already in the 100k club.
Youtuber Logan Paul, a staunch supporter of NFTs and crypto is now a millionaire. He became a millionaire when he dived into the world of NFTs and started exploring and investing in NFTs with a promising future. In February 2021 he sold NFTs worth over $5 million. In one of his videos, he revealed his $20000000 worth of NFT assets.
You can also dive into the NFT space and start earning huge profits. Binance with its advanced technologies, automated NFT infrastructure, utilities, and tools makes the NFT ecosystem simpler and accessible for everyone.
You do not need to be a tech geek to list and sell your NFT on Binance. All you need to do is to follow the steps mentioned in this blog. List NFT on Binance and start your NFT venture today.
How to List NFT on Binance?
Binance offers you multiple options to sell NFTs on its marketplace. You can either list NFT at a fixed price, through an auction, or by accepting buyers’ offers.
The Binance platform also gives you the freedom to accept payments in several different cryptocurrencies.
Whether you mint NFT on Binance or bring it to the platform from outside, you enjoy a 1% royalty on every subsequent sale of your creation. Moreover, the Binance team reviews your every submission before listing it on the platform.
Step By Step Process to List NFT on Binance
Follow the steps below to list NFT with Binance.
- As soon as you mint or create NFT on Binance, you will see a screen with the NFT Minting Completed message.
- There on the same screen, you will get an option List NFT.
- You can take the NFT listing process from here.
- Alternatively, you can also list NFT by logging in to your Binance account. If you do not have one click here
- Then go to Profile
- From the menu go to User Centre
- Now click on Assets
- Then select the NFT asset you wish to list
- The moment you hover over the NFT you will see an option List NFT (ref the screenshot below)
- Click on List NFT.
- Now it’s time to set the price.
- You can either choose the set price or the highest bid
- With the set price option, you set a fixed price for your NFT. Buyers can instantly buy the NFT at your set price.
- When you choose the highest bid option, you are basically listing your NFT for auction. In the auction, your NFT will be sold to the highest bidder.
- If you are selling at an onset price, click on the set price option.
- Then select the crypto you wish to receive the payment in.
- Now select the amount of NFT you wish to list for sale.
- Then set the price of each NFT and the expiration date.
- In case you are using the Highest Bid option, click on the Highest bid button.
- Then select the crypto and the minimum bid amount.
- You also have the option to set the Buy out price. It is the desired selling price that you set for your asset.
- Now select the minimum markup percentage.
- It limits the buyer’s bid to 5%, 10%, or 20% higher than the minimum price set.
- For listing time, you can choose either to immediately list the NFT after the Binance team reviews it or set a specific date and time.
- Normally, the Binance team takes 4-8 hours to review the requests.
- Your listing duration should be more than at least 12 hours and no longer than 7 days.
- Once you have double-checked all the details, click on Submit.
- Please have patience and wait as the team reviews your requests.
- You will be notified once the team approves your listing.
How to view listed NFTs?
To view all your listed NFTs on Binance, follow the steps mentioned below:
- Log in to your Binance account here
- Go to the Profile section
- Then click on User Center from the menu
- Now click on the option On Sale to view all the NFTs that you have listed on the platform.
How to accept a buyer’s offer?
Follow the steps to accept a buyer’s offer for your listed NFT and sell it.
- As soon as a buyer makes an offer or bids on your NFT, you will receive a notification.
- You can see all your notifications in the User Centre section.
- Go to the User Centre section from the Profile menu options.
- Then click on Offers
- Now go to Offers Received section.
- Go through all the offers you have received on your NFTs.
- To accept a specific offer, click on the offer.
- Next, click on Confirm to finalize your offer acceptance.
Your NFT will be immediately sold to the buyer whose offer you accepted at the quoted price.
Wrapping Up
Binance NFT marketplace is quite user-friendly with easy-to-use features and tools. The platform is well-structured to help NFT creators mint and list NFT on Binance as well as for buyers to explore and buy new collections.
With Binance you can list NFT in a hassle-free manner in a few simple steps without the need for any technical knowledge.
