Binance X launches its main NFT platform ‘Featured by Binance’ – Coinspeaker
Featured by Binance is a blockchain-based initiative that helps digital creators and artists harness the power of technology.
Binance X, a developer platform supported by Binance, announces the planned launch of its Non-Fungible Token (NFT) platform. The leading platform, called “Featured by Binance”, is an unprotected on-chain NFT platform based on the Binance Smart Chain (BSC) network. According to a press release shared with Coinspeaker, the new platform will support the entire life cycle of a unique NFT. This life cycle ranges from coinage, marketing, sales, secondary trading, and redemption.
While NFTs have been around for a while, they became a buzzword in the cryptocurrency industry this year. The space in 2021 witnessed Beeple’s $ 63 million in “Everydays” sales. This is compounded by the increasing emergence of new NFT marketplaces. While we seem to have traveled into a world of recognition, NFT adoption is still at rock bottom. The platform is designed to meet this challenge as it brings together creators, brands and their fans.
The platform is slated to launch later this quarter and will focus on helping brands launch NFT assets with unique stories. Featured by Binance includes functional tools to help you shape and showcase your NFT assets. In addition, the new platform is to be supported by a marketplace to support trading in the NFTs that have been shaped.
“We believe the next evolution of digital goods will take place on the blockchain and NFTs are the first step towards this transformation that will benefit the way we interact with brands and service users,” said Binance X’s Teck Chia “Our goal is to work with trendsetting brands and creators around the world who have a long-term perspective on this shared vision.”
The Featured by Binance platform allows everyone, creators both small and large, to realize their potential without inappropriate demonstrations.
Main advantages of the Binance NFT platform
Featured by Binance is a blockchain-based initiative that helps digital creators and artists harness the power of technology. The main benefits that users can enjoy include; the immutability of assets stored as NFTs on the blockchain. Plus, it will help harness technology’s trusted ability to connect creators with their fans. Overall, open source protocols and the proliferation of innovation can push users towards global reach.
“We believe that Featured by Binance will unlock many exciting innovations in digital goods,” said Binance CEO CZ (Changpeng Zhao). “We want to bring our extensive experience in token adoption and market creation in the NFT space to help brands and creators take advantage of these benefits.”
The platform will build on the global importance of the Binance cryptocurrency exchange. Binance is currently the largest trading platform in the world by trading volume. This can have an indirect impact on the growth of the new platform. In general, Featured by Binance will try to connect with more users in all regions. This ambitious venture will be sought in the short, medium and long term.
Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about the real world applications of blockchain technology and innovations to drive general adoption and global integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based media and websites. Benjamin Godfrey loves sports and agriculture.
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