If you own an NFT, whether minted or purchased from a marketplace, you can return it or list it for sale on the Binance NFT Marketplace. We have listed the steps you need to take to start making money selling NFTs.
You can sell your NFTs and Mystery Boxes on the Binance NFT Marketplace for a fixed price, in an auction, or by accepting bids from buyers. They can also accept payments in many different cryptocurrencies.
As a creator, you will also receive 1% royalties on all subsequent transactions from your NFT on the platform.
Depositors also receive the same benefit for any external NFTs they bring to the market.
Whether you are selling an NFT you have created or one from your collection, the process is similar and simple.
The Binance team will review your submission before listing it on the Binance NFT Marketplace.
How to list an NFT
Step 1: You can list your NFT on the Binance platform by clicking on [List NFT] on the [Minting Completed] screen and you will see the listing options.
You can also add a description for the NFT.
Be sure to include any additional features you may have, such as any utilities in a game.
Note that descriptions can only be added when writing an NFT. It cannot be changed after the NFT is created nor being resold.
Step 2: To list an NFT to your collection, go to [Profile] – [User Center] – [Assets].
Click [NFT Asset] or [Mystery Boxes] to find the NFT you want to list. Hover the cursor over the item and click [List NFT].
You can also go to the NFT description page and click [List NFT].
How to setup your NFT listing
1. Choose your selling method. Select [Set Price] or [Highest Bid].
- Set Price – Buyers can buy your NFT instantly at the price you set.
- Highest Bid – Your NFT will be auctioned and sold to the highest bidder.
If you selected Set Price:
- Select the cryptocurrency you wish to receive and enter the selling price of your NFT. This feature also allows buyers to place offers on their NFT.
If you use max bid:
- Select the cryptocurrency you wish to receive and enter the minimum bid amount for your sale. This is the price at which bidding begins.
- You can also enter the desired sale price (a repurchase price) in [Auction Bid] (for NFT sales) or [Repurchase Price] (for Mystery Box sales). Buyers can buy the item immediately when they offer the buyback price or when the auction reaches that price.
- Select the minimum margin percentage. This limits the buyer's offer to 5%, 10% or 20% above the reserve price increase.
- You can choose to post the NFT immediately after our team has reviewed your listing. Note that the review usually takes around 4-8 hours to complete.
You can also select a specific date and time for the list. The earliest time you can set is 12 hours after the listing is submitted for review. If the review is not completed within the requested time, we will submit your NFT immediately upon approval.
- Set the date and time of your NFT sale. The sale must last a minimum of 12 hours and a maximum of 7 days from registration.
- Choose an appropriate category for your NFT. This can help buyers find your NFT more easily.
- Make sure you read and understand the fees associated with the sale of your NFT before clicking [Submit]. The Binance team will manually review each NFT prior to listing to ensure it meets our standards. This process usually takes between 4 and 8 hours. Please wait. You will be notified when your NFT is listed.
- 6. To see your NFTs or Mystery Boxes listed, go to [User Center] – [Assets] – [On Sale].
How do I accept an NFT purchase offer?
Step 1: When a buyer bids on your NFT or Mystery Box, you will receive a notification in the [User Center]. To check the offer, go to [Profile] – [User Center] – [Offers] and click [Offers Received].
Please note that if you receive more than one offer for the same item, you will only see the highest offer for each cryptocurrency.
Step 2: To accept an offer, click [Accept].
Step 3: Then click on [Confirm] to confirm the offer.
Conclusion
Binance NFT Marketplace is a highly recommended NFT platform with several benefits including the ability for users to create NFTs in their account and support for Ethereum NFTs.