Binance to Launch New NFT Platform

Binance, a leading Blockchain ecosystem and digital asset exchange, announced an imminent launch of Featured by Binance, a non-custodial and on-chain platform designed to facilitate the full lifecycle of NFTs for creators, brands and their fans.

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The platform will focus on helping Binance’s brand partners launch NFT assets with strong unique narratives, a marketplace to trade those assets, and creator tools to mint, sell and showcase their NFT creations.

About the launch of Featured by Binance, Binance's CEO Changpeng Zhao said: "We believe Featured by Binance will unlock a lot of exciting innovation in digital goods. We want to apply our deep experience in launching tokens and creating markets to the NFT space to help brands and creators unlock these benefits."

Teck Chia, CEO of Featured by Binance, added: “We believe that the next evolution of digital goods will be on the blockchain and NFTs are the first step towards that transformation. What we are seeing are early market dynamics pushing digital goods towards a better platform. Just as 'money' and financial markets (DeFi) have, slowly but surely, migrated to the blockchain, digital goods will do the same.”

However, according to the data from NonFungible.com, NFT market has witnessed a significant fall from $170 million in transactions at the beginning of May to recent $19.4 million , a decrease of roughly 90%.