Binance NFT Marketplace adjusts its minting fees to help users buy quality NFTs
Key Points:Binance NFT will update and revise the NFT Chain Mining Fee and adjust the minimum follower requirements to enable the platform to offer NFT minting functionality.
Binance NFT announces that it regularly reviews the NFT collections listed to ensure that they meet standards.
Binance may require that NFT chains not meeting its standards are removed from the Binance NFT marketplace.
Binance NFT has introduced changes to NFT minting fees that help ensure that users can purchase quality NFT at a high standard in the market.Binance stated in the announcement that in order to promptly follow up on suggestions from the community about the NFT minting function and prevent the minting of low-quality NFTs and abuse of this function, Binance NFT has reviewed and will update the NFT series Minting fees and adjustments to the minimum follower requirements required for the platform to gain NFT minting functionality.Binance said in the announcement that this update is aimed at the rights and interests of users.
“We do this because it helps us to ensure that users are able to buy quality NFTs at a high standard we expect on Binance NFT Marketplace and to protect the rights of Binance NFT user.”
This update will be in effect at 23:59 UTC on February 15, 2023. The announcement states that Binance NFT regularly inspects listed NFT collections to make sure they meet standards. Binance may delist NFT series that do not meet its standards and remove them from the marketplace. Each NFT series has a fixed series minting cost. This includes smart contract deployment fees as well as service fees. The collective minting fee for each NFT series is as follows: Ethereum (ETH), 0.50 ETH; and BNB Smart Chain(BSC): 1.00 BNB. Users who have completed identity verification and have at most 2 followers on their Binance NFT user account can still mint NFTs from the exchange. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewsTags: BinanceBinance NFTMinting FeesNFT