Binance All-Set to Achieve another Milestone in Crypto Industry
Binance is the name to look up to when it comes to introducing new and highly demanded products in the crypto-verse. Currently ranked as the largest cryptocurrency exchange in the world, Binance continues to achieve new milestones.
Although the exchange was founded back in 2017, it has surpassed all other major crypto exchanges that came their way. It currently has the largest market capitalization and is set to increase it even further.
Just recently, Binance went public and has its Binance Coin (BNB) being traded through the NASDAQ exchange. After that, Binance also launched stock tokens for several major companies such as Microsoft, Apple, MicroStrategy, and Amazon.
No matter the product launched by Binance, it tends to bring in huge crowds resulting in more trades and investments. The exchange has been thriving on this and is constantly surprising the crypto-verse with new products, almost every month.
This time around, Binance has packed yet another surprise for the cryptocurrency industry. To be more specific, the non-fungible token (NFT) industry would benefit from the new product.
Binance has recently announced its plans for entering the non-fungible token (NFT) industry. Its officials have confirmed they are looking into the process of developing and launching their own non-fungible token (NFT). In addition to the NFT, the development teams at Binance will also be working to launch an NFT marketplace.
Binance made the announcement of its non-fungible token (NFT) and NFT marketplace on Monday, April 26, 2021. The largest cryptocurrency exchange has also revealed that work is already in progress on the new NFT. They are already halfway through with the new NFT and marketplace and will be able to launch it in June.
Helen Hai, the NFT Head at Binance shared what the goal of the development team is while creating the new NFT. Hai stated that their aim is to facilitate users in processing transactions with minimum costs. She stated that the entire Binance and Binance NFT team is excited about the new project.
Once the project is launched, the users will know the difference between Binance NFT and the rest of the NFTs.
Helen Hai revealed that the Binance NFT platform will be integrated into the primary Binance infrastructure. This would mean that all Binance users will automatically have access to Binance NFT once it is launched. There will be no requirements for the Binance users to set up a new account whatsoever.
The officials of the Binance NFT have also shared more details about the new NFT project. They have confirmed that once the Binance NFT platform is launched, users will have access to two different venues.
The first one would be access to the Premium Events where artists will be able to auction their NFTs. The other one would be the Trading Market, where users will be able to create new NFTs.