In this article we are going to list the main digital art collections of the Binance NFT marketplace, and understand what non-fungible tokens are and how they work.
Behind the explosion in the digital art market are non-fungible tokens known as NFTs. Artworks are digital assets that can range from anything to a photograph, a video file or even a piece of music and are supported by what is effectively a digital property registry, both of which are part of the blockchain that authenticates the digital items as unique.
In this article, we will discuss:
After all, what are NFTs and how do they work?
Probably the easiest way to understand this is to think of NFTs as a digital version of the certificates of authenticity that are prevalent in the real-world art and collectibles market. However, instead of a piece of paper, NFTs use smart contracts blockchain to authenticate who owns each specific token.
An NFT can be created from digital objects that represent tangible and intangible items, including:
- Fine Arts
- GIFs
- Sports videos and highlights
- Collectibles
- Virtual avatars and video game skins
- designer sneakers
- Music
Why pay for something that can be copied on the internet?
You can even copy the digital file with your right mouse button as many times as you like. But NFTs are designed to give something that cannot be copied: ownership of the work (although the artist can still retain copyright and reproduction rights, just as with physical art). To put it in terms of physical art collection: anyone can buy a Monet print. But only one person can own the original.
What is Binance's NFT Marketplace?
Released in June 2021 the Binance NFTs is an NFT market where it is possible to create, buy and sell non-fungible tokens, with better liquidity and minimal fees.
Binance Categories NFTs
The Marketplace is organized into the following categories:
- Premium
- Fine Arts
- Sports
- Entertainment
- Games
- Collectibles
- E-sports
- NFTs for Good
Types of Sale
- Fixed Prices – The seller sets the price and keeps the item listed until it is purchased or until the seller decides to cancel it.
- Live Auction – Here's how it works, the seller sets a minimum price and waits for the bids to go up in order to accept the highest one.
At the time of publication of this article, the only currencies accepted to purchase non-fungible tokens are: BUSD, ETH and BNB.
Benefits of Buying and Selling NFTs Through Binance
- Low rates: platform fee of 1% with the highest liquidity in the market.
- Convenience: Users can access the entire Binance ecosystem (including Binance NFT) with a single account.
- Variety: Marketplace, Premium Events and Mysterious Boxes
- Exclusivity: Binance NFT is the first and only NFT marketplace to launch the Mysterious Box feature
Binance's Top NFT Market Art Collections
1. CyBall
CyBall Art Collections is NFT based football game where users can collect, trade, guide and finally fight each other using CyBlocs in various CyBall stadiums.
- Minimum Price: 194.84 USD
- Total Volume: 11,876,236.74 USD
- Last Price: 194.84 USD
- Total Items: 18134
2. SYN CITY
Blueprint owners will be able to acquire game assets. They will form the foundation of the game's assets, providing incentives and perks within the SYN CITY ecosystem.
- Minimum Price: 530.84 USD
- Total Volume: 10,712,127.96 USD
- Last Price: 616.82 USD
- Total Items: 8000
3. DeRace
DeRace is a complete NFT horse racing ecosystem where you can participate in horse races, breed NFT horses with unique characteristics, build your own NFT racecourse and profit from doing so.
- Minimum Price: 2,618.16 USD
- Total Volume: 9,164,788.90 USD
- Last Price: 2,599.74 USD
- Total Items: 1987
4. Elfin Ultra NFT PACK
Elfin Kingdom is an exciting new MMORPG game. Players can choose their role within the game, explore maps, do daily missions, mine NFTs, collect NFTs, connect with other players and build communities, battle and share.
- Minimum Price: 749,85 USD
- Total Volume: 6.654.072,81 USD
- Last Price: 657,26 USD
5. BigTimeStudios
Big Time is a multiplayer action RPG where you team up with friends to venture into time and space.
Explore ancient mysteries and futuristic civilizations as you battle through history. Collect rare and legendary NFT items to decorate your avatar and personal time machine where you can hang out with your friends.
- Minimum Price: 749.92 USD
- Total Volume: 4,671,636.71 USD
- Last Price: 774.92 USD
- Total Items: 5022
How to buy an NFT on Binance Marketplace?
To make a fixed price purchase or participate in an auction on the Binance NFT Marketplace, the interested party must have a Binance account. However, if you don't have an account yet, you can create your own. Free Account through this LINK. If you already have an account, just access the link below:
Conclusion
Non-fungible tokens, known as NFTs are increasingly present in the cryptocurrency market and has proven to be a unique opportunity for anyone interested in investing. A while ago it was a big challenge to choose the right market or even the right platform to use. Beginners will have no difficulty using the Binance NFT platform.
As the Binance NFT platform has the lowest rates in the market and a high liquidity, it has become the best alternative for collectors and creators, considering that Binance is extremely well known in the cryptocurrency market. This may be the best time for artists to show their art in a fully digital format, thus being able to share their work with an audience hungry for great works.
