Binance NFT Marketplace Overview – Find you first NFT!

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Welcome to my video about Binance NFT Marketplace! In this video, I show you how you can find NFT’s on Binance, How you see the price, the most popular ones, and how you can set up your account to get started selling NFT’s on Binance Marketplace.

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1. BINANCE – (20% OFF FEES)

What is Binance NFT Marketplace?

Binance NFT Marketplace brings together artists, creators, and crypto enthusiasts on a single platform to create and trade top NFTs. The platform features 3 product lines:
• Events: Buy premium and exclusive NFTs created by global leading artists
• Marketplace: Mint, purchase, and bid on NFTs from creators around the world
• Mystery Box: Stand a chance to win rare NFTs in a box full of surprises

How do I create an NFT?

Click [Create] and choose your file to upload. We currently support JPG, PNG, GIF, PDF, MP4, MP3, MPEG, AVI, WAV, and SVG. Please note that your NFT cannot be changed or revised once created. To create a revised/new NFT, you will have to start the process again.

How do I buy an NFT?

For NFTs with a fixed price, click the [Buy] button on the product page and complete the transaction. Once the transaction is successful, we will transfer the NFT to your wallet and the seller will receive the funds. For NFTs on auction, click [Make an offer], place your bid price, and confirm the offer. In the event of someone placing a higher bid than you, your funds will be unlocked. To join the auction again, you’ll have to place a new bid.

WHAT IS AN NFT? WHAT DOES NFT STAND FOR?
Non-fungible token.

That doesn’t make it any clearer.

Right, sorry. “Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different. You gave up a Squirtle, and got a 1909 T206 Honus Wagner, which StadiumTalk calls “the Mona Lisa of baseball cards.” (I’ll take their word for it.)

How do NFTs work?

At a very high level, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin. It is worth noting that other blockchains can implement their own versions of NFTs. (Some already have.)

What’s worth picking up at the NFT supermarket?

NFTs can really be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art.

Dogecoin isn’t an NFT. But this GIF of a dogecoin is. GIF: NyanCat on OpenSea
You mean, like, people buying my good tweets?

I don’t think anyone can stop you, but that’s not really what I meant. A lot of the conversation is about NFTs as an evolution of fine art collecting, only with digital art.

(Side note, when coming up with the line “buying my good tweets,” we were trying to think of something so silly that it wouldn’t be a real thing. So of course the founder of Twitter sold one for just under $3 million shortly after we posted the article.)

Do people really think this will become like art collecting?

I’m sure some people really hope so — like whoever paid almost $390,000 for a 50-second video by Grimes or the person who paid $6.6 million for a video by Beeple.

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