What is Binance NFT? New Features and Improvements!
We have prepared an excellent article for those who follow the Binance NFT world and ask what is Binance NFT. In our Binance NFT article, which includes New Features and Improvements, you will be able to get detailed information about NFTs, which will be indispensable for the new world. Let’s start our article without wasting time.
What is Binance NFT?
We can see the Binance NFT market grow along with the rest of the NFT world. Binance NFT Marketplace, with millions of users worldwide, is now available on both the website and the Binance app. In this way, users will be able to benefit from all services by entering the NFT market whenever and wherever they want.
Binance NFT is the world’s largest centralized NFT marketplace where anyone can browse and trade a wide variety of in-game goods, virtual lands, artworks and other items for a flat commission cost of just 1%. You can trade in-game purchases, digital collectibles, sandbox, art and other items. We have answered the question of What is Binance NFT, now let’s take a look at Binance NFT’s New Features and Improvements.
Binance NFT New Features and Improvements!
1. Bidding
Buyers
You can now bid for the NFT you want to buy, whether it is in the auction or not. In this way, you can buy it at an affordable price.
The minimum price for a bid is 1 BUSD and buyers can only bid for one NFT or Mystery Box. When an offer is made, the amount is frozen from the buyer’s Financing Wallet and released if their offer is canceled or expires. Buyers can find transactions with offers under their Purchase and Sales History in the User Center.
Buyers can easily view their ongoing offers in the User Center by clicking Offers in the menu column.
Also, after purchasing NFTs or Mystery Boxes through the Make Offer feature, buyers can track all successful bids by going to History > Orders > Purchase History in the User Center.
You can also view expired auctions and buy an NFT from this link.
Sellers
Those wishing to sell NFT can now choose to accept or decline NFT or Mystery Box offers on Binance. If a seller receives more than one bid for the same item, they can only see the highest bid for each cryptocurrency on the item.
NFT Sellers can go to the User Center and click on the Offers tab in the menu column to see the amount of offers they have received.
Additionally, sellers can track all NFTs or Mystery Boxes sold through the Make Offer feature in the User Center under History > Orders > Sales History.
2. Advanced Filters
Marketplace search and filtering functionality has been improved in the Binance NFT world so that users can more easily find the NFT they are looking for. You can now also see the most searched filters and features on the left.
Favorite filter options are on the left side of the page, where users can apply filters by Collections, Status, Discount Type, Currency, Category, and File Type. Thanks to filtering, Rare Hunters can get the rarest NFTs at an affordable price.
3. Setting a Reminder for the Mystery Box Sale
Tired of missing the first sale of a Mystery Box Collection you always have your eye on? Follow Binance NFT’s upcoming launches and earn high profits.
In this update, you can subscribe to the Mystery Box of your choice to receive reminders for discounts by clicking the alarm clock icon. After subscribing, you will receive a push notification 20 minutes before the primary sale starts. Let’s start chasing Mystery Boxes right now from this link.
4. New NFT Payment Optimization Features
No Password Purchase Limit (Per Transaction)
To make NFT buying a smoother experience, Binance has launched the Passwordless Purchase Limit (Per Transaction) feature to replace the Daily Remaining Purchase Limit. The default Passwordless Purchase Limit (Per Transaction) is capped at 500 BUSD, with a maximum of 100,000 BUSD. You can go to User Center > Settings > Account Limit to set the amount.
Pay PIN
The new Pay PIN functionality allows you to complete transactions securely when your purchase price exceeds the Passwordless Purchase Limit (Per Transaction).
In addition, users who set their Pay PINs can bypass Two-Factor Authentication (2FA) when confirming their purchase if Binance risk management policies are triggered during the transaction process.
See our tutorial How to Set Your Binance NFT Account Limits to Protect Your Assets to learn how to set your “No Password Purchase Limit (Per Transaction)” and Payment PIN.
Our article on What is Binance NFT and New Features and Improvements in Binance NFT ends here. For more, you can review the following Binance Guides;
If you want to become a member of Binance, you can use the link below.
You can use this link to become a Binance Member. Win a Prize!
