As the Binance NFT Marketplace officially announces the changes in fees associated with the issuance of NFTs. In order to be eligible to create a new collection of tokens, the user must complete the mandatory identity verification, and his account on the Binance NFT platform must have at least 10 subscribers.
For each new collection of NFTs, a fixed release fee is introduced, which includes a smart contract deployment fee and a maintenance fee.. Fees will be 0.50 Ether (ETH) for collections deployed on the Ethereum blockchain and 1.00 BNB for Binance Smart Chain.
In case of non-compliance with the minimum expected standards, the platform reserves the right to conduct an in-depth review of the collection or remove NFTs from its trading platform.
Updated fees and minimum subscriber requirements for minting NFTs will go into effect on Feb. 15 at 23:59 (UTC). Binance NFT stated that the changes were made at the request of platform users to protect their rights and interests, as well as ensure the availability of high-quality NFTs.
In the middle of last year, Binance exchange and mobile app developer Splyt announced their intention to offer 90 million users in 150 countries access to vehicle rental and ticketing services through the Binance Marketplace.