Binance announces zero trading fees for certain NFT collections

SNEAK PEEK

  • To make the New Year exciting for users, Binance has launched special promotions.
  • Few chosen NFT collections such as BAYC, Doodles, Azuki and Meebits will have zero trading fees.
  • Users can list NFTs and share up to 40,000 BUSD in token vouchers.

Binance NFT Marketplace has launched a unique New Year promotion exclusively for its NFT community. Under promotion A, selected NFT collections will have zero trading fees. The duration of the promotion is from January 1, 2023, at 08:00 UTC, to January 31, 2023, at 23:59 UTC.. 

Users can trade non-fungible tokens from BAYC, Doodles, MAYC, Moonbirds, Azuki, Meebits, 10KTF, Pudgy Penguins, CLONE X – X TAKASHI MURAKAMI, and Otherdeed for Otherside

Under promotion B, users can list blue-chip non-fungible tokens for sale and share up to 40,000 BUSD in token vouchers. The duration of the promotion is from January 1, 2023, at 08:00 UTC, to  January 31, 2023, at 23:59 UTC.. 

Users can list fixed-price non-fungible tokens from BAYC, 10KTF, Doodles, MAYC, CLONE X – X TAKASHI MURAKAMI, Otherdeed for Otherside, Moonbirds, Azuki, Pudgy Penguins, and Meebits. 

During the promotion period, a snapshot of the non-fungible tokens listing for qualified blue-chip NFT collections will be taken on a regular basis. Users with the qualified NFT listings may be eligible for rewards if the price of their listing is less than or equivalent to 1.1 times the floor price of the corresponding blue-chip NFT collection. 

To be captured in the daily snapshot, the listings must be listed on the marketplace for more than 24 hours. 

During the promotion period, each day, the NFT listing that will have the least listing price for each qualified blue-chip collection on Binance, which is priced less than the floor price of the corresponding NFT collection on OpenSea as well, will be considered as five eligible NFT listings while calculating the rewards for every user when the promotion period ends. 

To list and trade non-fungible tokens, users must complete the identity verification process. Furthermore, promotion A does not apply to third-party NFT listings on Binance. Zero trading fee is possible while trading tokens that have been listed at the Binance NFT marketplace

For promotion B, trading volume includes buys and sells minus wash trades. Once the promotion ends, rewards will be distributed within three weeks. 14 days is the validity duration for the token voucher. 

In case of multiple users listing the lowest-priced non-fungible tokens at the same price, which is also less than or equivalent to 1.1 times the floor price of the collection at Binance as well as less than the floor price of the collection on OpenSea, user(s) who have listed the NFT(s) earlier will be eligible for a major portion of the unlocked rewards pool.