Binance has announced the upcoming launch of a non-custodial, on-chain NFT platform: Featured by Binance
The team behind Binance X, the innovation arm and developer platform of Binance, is announcing the upcoming launch of a non-custodial, on-chain NFT platform, Featured by Binance. The Binance Smart Chain-hosted platform will help facilitate the full lifecycle of NFTs for creators, brands and their fans, including minting, marketing, distributing, secondary trading, and redemption.
At launch, later this quarter, Featured by Binance, will focus on helping brand partners launch NFT assets with strong unique narratives, and provide a marketplace to trade those assets, as well as tools for creators to mint, sell and showcase their NFT creations. Any creator, small or large, can mint their respective NFTs on the platform.
Incubated by Binance X, the vision behind Featured by Binance is to see all digital goods migrate to the blockchain so they are openly and globally accessible, transparent, verifiable, immutable and standards-based.
“We believe the next evolution of digital goods will be on the blockchain and NFTs are the first step towards that transformation which will benefit the way we engage with brands and service users,” said Teck Chia, CEO of Featured. “Our goal is to work with forward-looking brands and creators around the world that have a long-term perspective on this shared vision.”
“We believe Featured by Binance will unlock a lot of exciting innovation in digital goods,” said Binance CEO CZ (Changpeng Zhao). “We want to apply our deep experience in launching tokens and creating markets to the NFT space to help brands and creators unlock these benefits.”
Key benefits of Featured by Binance and NFTs:
Direct-to-Fan Relationships via Trustlessness
Blockchains enable peer-to-peer transactions via smart contracts without any trusted intermediaries. By minting NFTs on the Binance Smart Chain, creators can establish a direct relationship with their fans free of any platform risks.
Global Reach via Open Accessibility
Blockchains are public infrastructure that are universally accessible. Everyone, regardless of where you’re located or who you are, interacts with NFT contracts in the same way, unfettered by proprietary platforms and restrictions.
Permanence via Immutability
NFTs, once minted on the blockchain, cannot be altered. This confers a strong sense of ownership and permanence, which is especially important in the gaming and the collectibles space.
Rapid Innovation via Open Standards
NFTs are based on open standards (ERC/BEP-721, ERC/BEP-1155, etc). Standards give rise to network effects, interoperability and composability, the same reasons why DeFi (and the Internet for that matter) is such a disruptive force.
Featured by Binance and the Binance NFT marketplace built on Binance.com aims to increase global access to digital goods with a multi-pronged initiative from Binance, focusing on users and deepening the fan experience for creators and brands.
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