The Binance NFT marketplace, one of the most popular places to buy, sell, and trade NFTs, launched in June 2021 and is still quite young. Since its launch, the Binance NFT marketplace is constantly optimizing its features and the user experience.
Here are the latest innovations and improvements on the Binance NFT marketplace in detail.
- You can now make and accept offers on fixed-price listings.
- Filters and search functions had been improved.
- You can now set reminders for Mystery Box sales.
- You can now set your own password-free purchase limit.
- Binance Pay is now supported on the Binance NFT Marketplace.
Make An Offer
You can now place and accept offers for NFTs that are sold via the Auction sale method and Mystery Boxes. Simply click the "Make Offer" button on the listings page.
A pop-up window will appear. Here you can set the asset, the price, and the expiry date of your offer. Continue by clicking the "Confirm" button.
You can only make one offer for each NFT or Mystery Box and the minimum price for making an offer is currently one $BUSD.
The exact amount from your offer will be frozen in your Binance Funding Wallet and your assets will be automatically unfrozen when the offer is canceled or expired.
In case your Funding Wallet balance is not sufficient, you can buy crypto by clicking the "Buy Crypto/Deposit" button.
You can only have a maximum of 20 active offers at once. If you want to view or manage your active offers, go to your "Profile" - "User Center" - "Offers" and click on "Offers Made". You can also make a new offer on an NFT or Mystery Box. If you want to make a new offer, you need to cancel your active offer on that item first. You can cancel an offer you made by clicking the "Cancel" button. On the other hand, if you are selling NFTs, you can accept or decline an offer. When another user makes an offer on one of your NFTs or Mystery Boxes, you will receive a notification in your "User Center". Go to "Profile" - "User Center" - "Offers" and click the "Offers Received" button. If you receive more than one offer for the same NFT then you will only see the highest offer for each crypto. To accept the offer, simply click the "Accept" button.
Improved Filters
You can now better explore NFTs on the Binance marketplace as the filters and search functions had been improved. For example, you can now filter your search results by traits and characteristics. It is a great function that users can enjoy for hunting rarities, the so-called "rarity sniping". You can also easily navigate to the official page of an NFT collection.
On the left side, you find the most used filter options of the Binance NFT marketplace. On the TOP right, you can find more options to filter your search results.
Set Reminders for Mystery Box Sales
Another great improvement of the Binance NFT marketplace is the possibility of setting reminders for upcoming Mystery Box sales. So you can much better keep track of upcoming launches.
You can easily subscribe to the Mystery Box launch of your choice. Simply go to the page of the Mystery Box and click on the little clock item that is located directly beside the "BUY" button.
New NFT Payment Optimization Features
The Binance NFT Marketplace also optimized its payment features. You can now customize your NFT purchasing and listing limits and set up a Pay PIN. You are also able to set your own password-free purchase limit per single transaction.
This new feature on the Binance NFT Marketplace can help protect your account from phishing malware. If you want to set or adjust your account purchase limits, go to the "User Center" in your account - "Settings" - "Account Limits". A new pop-up window will appear. Here you can customize your limit and confirm the change with Two-Factor Authentication (2FA).
If you want to set your own password-free purchase limit per transaction, simply go to your "User Center" - "Settings" - and "Account Limit". By clicking the "edit" button, you can your password-free purchase limit.
When you go to your "User Center" - "Settings" - and "Account Limit", you can also set up your Pay PIN. Simply click the "Set Pay PIN" button.
Also, Binance Pay is now supported on the Binance NFT Marketplace. Now you can convert your funds from your Binance Spot or Funding wallet for your purchases on the Binance NFT marketplace. Binance Pay is available only for fixed-price NFTs and Mystery Boxes on the Binance NFT secondary market.
The Binance Pay feature is currently only available for fixed-price NFTs and Mystery Boxes on the Binance NFT secondary market.
After clicking the "Buy Now" button, you can now select either the "Spot Wallet" or "Funding Wallet" for the payment
If you like to know more about Binance Pay, I recommend reading one of my previous articles here on Publish0x with the title "Benefit From ZERO Fees For Sending And Spending Crypto With Binance Pay!".
My Final Words
The Binance NFT Marketplace is only one year old but already big. Since then, the Binance NFT marketplace is constantly improving and new innovative features are being added. I hope that my post about the latest innovations and improvements on the Binance NFT Marketplace was useful to you.
If you are not registered on Binance (including the Binance NFT Marketplace) yet, you can use my referral link with the invitation code E3PGAJCE for signing up. It will save you trading fees each time you perform a trade on Binance. Don't forget about this possibility when you introduce a friend to cryptocurrency as it will save both of you some money.
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