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Notice on the Adjustment of NFT Collection Minting Fees and Follower Requirement on Binance NFT Marketplace (2023-02-10)

source-logo  binance.com 10 February 2023 08:40, UTC
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Fellow Binancians,
To address feedback received about the $NFT minting feature from our community, as well as to prevent the creation of low-quality NFTs and misuse of this feature, Binance $NFT has reviewed and will be updating $NFT collection minting fees and the required minimum number of followers on Binance $NFT user profiles to mint NFTs. The changes will take effect on 2023-02-15 at 23:59 (UTC).
We do this because we believe this helps to ensure that users can buy quality NFTs of a high level of standard we expect on Binance $NFT Marketplace, and to protect the rights and interests of Binance $NFT users.
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In line with this, we also periodically review listed $NFT collections to ensure that it continues to meet the high level of standard we expect. If an $NFT collection does not meet the standard we expect, Binance $NFT may conduct a more in-depth review and potentially take the $NFT collection down from Binance $NFT Marketplace.
After the update:
  • All verified users who have at least ten followers on Binance $NFT can mint NFTs.
  • Each $NFT collection is required to pay a fixed $NFT collection minting fee, which includes a smart contract deployment fee and service fee. The $NFT collection minting fee is charged as shown below:
    • Ethereum ($ETH): 0.50 $ETH
    • $BNB Smart Chain (BSC): 1.00 $BNB
Learn More About Binance $NFT Marketplace:
  • How to Get Started with the Binance $NFT Marketplace
  • How to Create Your $NFT on Binance $NFT Marketplace
  • What Are the $NFT Transaction Fees on Binance
  • How to Report Violations on Binance $NFT
Please note:
  • From now until 2023-02-15 23:59 (UTC), users who have completed identity verification and have at least two followers on their Binance $NFT user profile can still mint NFTs on Binance $NFT Marketplace.
  • Users can report NFTs and $NFT collections that potentially violate Binance $NFT’s Minting Rules and Terms of Service to Binance $NFT. The moderation team will actively investigate any user report of fraudulent or malicious content before taking necessary action.
  • Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Join the Binance $NFT Community on Telegram, or follow Binance $NFT on Twitter and Instagram for the latest news and updates.
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