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Home » binance nft marketplace

Binance NFT Marketplace

After achieving a huge amount of success as a crypto exchange, Binance has decided to join the NFT game as well in 2021. 

With low fees and an interface suitable for beginners, it didn’t take long for Binance to become one of the world’s largest and most popular NFT marketplaces. 

Users can trade pretty much anything from virtual land and in-game items to art pieces and digital collectibles.

Interested in learning more about the Binance NFT marketplace? This guide will walk you through everything you need to know about this comprehensive platform. 

Visit the Best NFT Marketplace

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

How to Buy an NFT on Binance – Quick Outline

In case you are running short on time and can’t read our detailed Binance NFT marketplace review, here is a quick outline of the steps you have to follow to buy an NFT on Binance. 

  • Step 1: Open a Binance Account – Go to Binance’s official website and click on ‘Register’ to open up a new account. Verify it through your email and follow the other security measures. 
  • Step 2: Download the Binance Wallet – Once you open up an account, your Binance wallet will already be set up. However, if you want the BNB Chain wallet, then you should download it on their home page and select Binance Wallet in the dropdown menu. 
  • Step 3: Fund the Account and Purchase ETH – Transfer funds into your account through one of the payment methods and then purchase ETH. You will need Ethereum to buy NFTs.  
  • Step 4: Find an NFT – Browse through Binance to find an NFT project that you want to invest in. There are hundreds of options to choose from.  
  • Step 5: Buy an NFT – After you find an NFT you want to purchase, click on ‘Place a Bid’ to take part in an auction. Once the auction ends, you will successfully buy the NFT if you are the highest bidder. 
Visit the Best NFT Marketplace

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Binance NFT Marketplace – Overview

Binance has been in the crypto exchange industry since 2017, but its NFT marketplace was officially launched on the 24th of June 2021. 

The platform first came out with a digital artwork auction by Andy Warhol, an American artist that had a huge influence on the pop art movement, and Salvador Dali, one of the most famous artists of all time. 

Traders can use the Binance NFT marketplace to buy, sell, or even create their own NFTs. Some of the major NFT genres include gaming, collectibles, memes, art, entertainment, virtual land, and many more. 

While the marketplace is still relatively new, it has the ability to leverage the whole Binance ecosystem. It utilizes both the Binance Smart Chain (native to Binance’s ecosystem) and Ethereum (for creating new NFTs). 

Visit the Best NFT Marketplace

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Binance NFT Marketplace – Features

Similar to their exchange platform, Binance is always looking for ways to improve its NFT marketplace and testing out new features that will appeal to users. 

Let’s review some of the most notable features of the Binance NFT marketplace. 

User-Friendly Interface 

Binance has done quite a lot to make its interface user-friendly for beginners. It’s very simple to navigate through all the different pages and traders can quickly learn their way around them. 

On the left side there is a column menu that includes some of the most-used functions like History, Assets, Settings, Deposit, Withdraw, and My Wallet. 

Additionally, NFT assets are well-organized through the ‘Collections’ and ‘On Sale’ categories. 

Mystery Box 

The mystery box feature on Binance allows users to pay a fixed price to open the box and receive a random NFT from a specific collection.  

Users can acquire different NFT rarity levels, and if they are lucky enough, they can get a super rare NFT that can be sold for a huge price (maybe even millions). In the worst-case scenario, they will get a common NFT to add to their collection. 

Secure Wallet 

Aside from being very simple to use, the Binance Chain Wallet also incorporates some cutting-edge security measures. 

There is a 2FA authentication process and a data encryption system that is able to prevent even the most serious hacking attempts. 

Visit the Best NFT Marketplace

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

How to Connect to the Binance NFT Marketplace

Before you can make your first NFT investment on Binance, you will first have to create an account on a crypto exchange platform. 

Most NFTs are currently bought with ETH, which means you will have to purchase it on the exchange and then transfer it to the NFT marketplace. 

This is how you can do it. 

Step 1 – Open an eToro Account and Buy ETH 

Your first step is to open up an account on eToro by going to their official website and clicking on ‘Join Now’. 

Fill in the personal details section by entering your name, address, phone number, email, etc. 

Lastly, verify your account by uploading a photocopy of your passport or driver’s licence. 

Step 2 – Deposit Funds into Your Account 

Choose one of the available payment methods (PayPal, Credit/Debit Card, Bank Transfer, etc.) to fund your new account. 

Type in the amount you want to transfer and click ‘Confirm’. 

Step 3 – Search for ‘ETH’ 

Once you finish depositing funds, you can use the search box to find Ethereum. Type in the amount you want to purchase and click ‘Open Trade’. 

Side note: Make sure you purchase enough ETH to cover the network fees as well. 

 

Step 4 – Connect to Binance NFT Marketplace 

Open up the Binance NFT exchange main dashboard and transfer the amount of ETH you need from eToro to be eligible to make investments. 

After finishing all of these steps, you can choose an NFT project you like and buy it with Ethereum. 

Get Ethereum on eToro to buy the NFT

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Binance NFT Marketplace – Best Alternative

While Binance certainly has many advantages, it’s not suitable for all users, which is why many of you might be interested in finding alternatives to this popular NFT marketplace. 

The best alternative NFT marketplace you can check out is the fast-growing NFT LaunchPad platform. 

Being released in February 2022, This NFT marketplace is still relatively new, but it has already caught the attention of almost every NFT enthusiast in the community. 

Aside from allowing users to trade and mint NFT tokens, NFT LaunchPad also comes with a few unique benefits. 

For starters, this platform has multi-chain support, which means that it allows users to trade NFTs hosted on both the Binance Smart Chain and Polygon blockchains. Additionally, the developers have announced that they will be adding more sets in the near future. 

When it comes to categories, users can browse through a lot of different areas such as gaming, music, trading cards, art, photography, and many more. Also, NFT LaunchPad is the exclusive home of Lucky Block NFT, one of the hottest new NFT projects of 2022. 

For those who want to mint their own NFTs, the process is fairly simple and creators have a wide range of formats to choose from (even MP4). The best thing about minting on NFT LaunchPad is that you can set up your own rarity level, royalties, auctions, and fixed price. 

Lastly, you can purchase assets on the platform strictly through Wrapped BNB (wBNB), which is a crypto listed on pretty much any larger exchange platform. Once you purchase wBNB, you can connect your wallet to NFT LaunchPad in a matter of seconds. 

Currently, the only supported wallet is MetaMask, but it’s announced that the marketplace will expand this list even further in the following months. 

Visit Binance

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

What Is the Best NFT to Buy in 2022? 

It seems that 2022 will be an amazing year for NFTs with thousands of new projects being released each month. 

Understandably, picking which one of these projects to invest in might be a daunting task, which is why we recommend that you check out Lucky Block’ NFT – The Platinum Rollers Club. 

Lucky Block first released its cryptocurrency (LBLOCK) at the beginning of 2022 and it has been nothing short of a success. It is one of the fastest projects ever to reach a 1$ billion valuation. 

Now, the developers aim to repeat this success with Lucky Block’s NFT collection as well. 

The Platinum Rollers Club is an immensely interesting project and it even comes with some specific utility, something that we don’t see very often with NFT tokens. 

Owners of Lucky Block NFT are given a lifetime entry into NFT lottery draws that take place every day. Additionally, those who were lucky enough to mint one of the 25 rare pieces can win a double jackpot if they get a winning ticket. 

Plus, once all 10,000 Lucky Block NFTs are sold out, there will be a ‘Win a Lambo’ draw through which users have a chance to win a $250,000 Lamborghini. 

How can you buy the Lucky Block NFT?

The Lucky Block Platinum Rollers Club NFT collection is minted on the Binance Smart Chain and that’s why you will need Wrapped BNB (WBNB). If you are using Trust Wallet, just add the coin to your wallet and then swap it with another crypto.

https://nftlaunchpad.com/nft_contracts/0x78178bb96d3533D45EB4809bfE4c3F69E712b560

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Step 1: In Metamask, make sure you are on the Binance Smart Chain.

By default, Metamask will take you to the Ethereum Main Network, and to change the network, you need to click on “Wallet”. After that, you need to select Binance Smart Chain Network (which will be positioned at or near the bottom of the list of networks).

The ones of you who don’t see Binance Smart Chain listed, need to go to Settings – Network – Add Network” and enter the following details:

Network Name: Smart Chain

New RPC URL: https://bsc-dataseed.binance.org/

ChainID: 56

Symbol: BNB

Block Explorer URL: https://bscscan.com

Then, go back to the network settings, choose Binance Smart Chain, and close the view. You will see under the “Wallet” heading that the network is now showing Binance Smart Chain.

Step 2: Get WBNB.

Swap BNB or another crypto for WBNB. Make sure you also have a small amount of BNB to cover gas fees and remember that you will need 3.75 WBNB to buy the NFT.

Step 3: Go to the NFT marketplace in your browser.

Simply go to nftlaunchpad.com.

Step 4: Click the “Connect Wallet” button.

Here, you simply need to click on the “Connect Wallet” button.

Step 5: Connect MetaMask or Trust Wallet

If you are using MetaMask, make sure to be on the Binance Smart Chain network, and also keep in mind that Trust Wallet is not available at launch.

Step 6: Click the “Explore” button.

Here, you will notice Platinum Rollers as one of the collections that you can purchase.

Step 7: Click on “Buy Now” to buy the NFT

Don’t be confused about not seeing the image of the actual NFT during the buying process. You will see it after the transaction is done.

Step 8: Here you will see your NFT appearing in your site profile area.

For accessing NFT Launchpad from your phone, you need to use Metamask’s built-in browser. Simply go to the drop-down menu and select “browser”. Then, type the “nftlaunchpad.com” URL into the address bar to navigate to the marketplace.

Now, you will see the NFT in your profile on NFT Launchpad. Click on the avatar on the bottom left-hand side.

To see the NFT in your MetaMask wallet, go to the import token at the bottom of the assets list. For the contract address paste: 0x78178bb96d3533D45EB4809bfE4c3F69E712b560

Collectible ID: the number of the NFT you bought

Token symbol: LCK

Decimals: 0

As we already mentioned, you can purchase your Lucky Block NFT on Launchpad, but there is one more way to do that. You can purchase the Crypto for your Lucky Block NFT, or any other NFT on eToro, and here we will explain how you can do that.

Get Lucky Block Platinum Rollers Club

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

The Verdict 

While many traders thought that the success of NFT projects would be short-lived, it seems like these digital tokens are stronger than ever. 

In fact, 2022 might prove to be an even better year for non-fungible tokens than 2021, which is impressive considering the great performance these digital assets achieved last year. 

If you want to jump aboard the NFT hype train and buy your first token, we recommend that you check out Lucky Block NFT while it’s still affordable. 

Julian