How to Create Your NFT on Binance NFT Marketplace
2021-06-23 14:44
One of the most exciting features for creators on the Binance NFT Marketplace is minting non-fungible tokens (NFTs). You can quickly mint NFTs and create your own NFT collections on BNB Chain (former BSC) and Ethereum (ETH).
How to create an NFT collection on Binance?
Please note that only verified users can create NFTs on Binance, so you must complete Identity Verification before you start. In addition, you need to have at least 2 followers on your Binance NFT user profile.
To gain more followers, you can share your Binance NFT user profile link to your social media accounts. Currently, we support Facebook, Twitter, and Telegram, as well as sharing via email.
You can also add your social media channels to your profile. Currently, you can link and display Facebook, Instagram, Twitter, Telegram, and Discord on your user profile.
To mint an NFT on Binance, you have to create an NFT collection and get it approved first. Please make sure you have a sufficient BNB or ETH balance in your Spot Wallet to cover the fees.
Let’s see how to create an NFT collection.
There are two ways to create an NFT collection. When you click [Create] on the Binance NFT Marketplace homepage, you will be redirected to the minting page with the below pop-up. Click [+ Collection].
You will be redirected to the [Create a Collection] page. Enter the details for your collection, including:
- Name: Your collection name, which will be used as the name of the smart contract. We will review your NFT collection name and notify you immediately to change the name if it contains inappropriate content. It will be assessed via an automatic verification system;
- Description: A brief description of your collection. We will review your description and notify you immediately to change the description if it contains inappropriate content. It will be assessed via an automatic verification system;
- Category: You can select a category for your collection, including Art, Sports, Entertainment, Gaming, Collection, Esports, and NFT For Good. It will be automatically applied to all NFTs created under this collection;
- Logo Image: Upload a logo for your collection;
- Banner Image: Upload an image for your collection homepage banner;
- Network: Select either BNB Chain or Ethereum for your collection;
- Symbol: Symbol (Token Tracker) will be used to create your smart contract and will be displayed across all on-chain messages. You may enter up to 10 characters, including letters and numbers. We recommend using the same name as your collection for consistency. The Symbol will appear in brackets beside your collection name under Token Tracker (refer to the BscScan image below). Please note that it cannot be changed after the collection is created.
- Smart Contract Owner Address (Optional): You can choose to bind a wallet to the collection. Please note that if you do not provide a wallet address, you won’t be able to claim ownership of your collection on the DeFi marketplaces.
To bind a wallet, paste the wallet address and click [Add a Wallet]. You will be redirected to the [Connect Wallet] page.
Choose the network of your wallet and click [Confirm]. Currently, we support BNB Chain (former BSC) and Ethereum (ETH).
Select the wallet you want to connect. You may connect to MetaMask or WalletConnect.
Note that the smart contract owner can be changed after the collection is created, but you will be charged a small fee, which costs the same as the NFT withdrawal fee.
- Royalty Fee: As the creator of the collection, you will earn a profit from each sale. You can customize the profit percentage anywhere between 1 - 10%. Please note that royalty fees cannot be changed after the collection is created.
- Social Media Links: You can add your social media accounts where you wish to promote the NFT collection. Currently, we only support Twitter, Discord, Instagram, Telegram, and Facebook.
Please note that you cannot change the name, symbol, category, network, and royalty fee after the collection is created.
After clicking [Create], you will see a pop-up window with the following message, “The transaction proceeds from the initial sale of this item will be subject to a 10-day clearing period. See Sales Settlement Postponement Policy for more details.”.
Learn more about the Binance NFT Sales Settlement Postponement Policy for Standard NFT Collections here.
Click [Continue] to submit your request and pay the Smart Contract Deployment Fee.
As creating a collection will also deploy an independent smart contract for you, it might take some time for the blockchain to execute. Please wait patiently for it to complete. Once the collection is ready, you will receive an email notification.
How to view or edit my NFT collections?
To edit an existing collection you created, click on the [Edit] icon. Please note that certain fields cannot be edited after your collection is created. These include:
- Name;
- Symbol;
- Category;
- Royalty Fee;
- Network.
When editing a collection, you can change the owner by changing the smart contract owner address. Please note that you will be charged a small fee, which costs the same as the NFT withdrawal fee.
To change the collection owner, click [Change Owner]. Then click [Add a Wallet] and paste the new wallet address.
How to create an NFT on Binance?
After creating a collection, you can start to create your NFTs on Binance. Before you get started, please make sure you have a sufficient BNB or ETH balance in your Spot Wallet to cover the minting fee. You will also need to complete the Identity Verification. Only verified users can create NFTs on Binance.
2. Read and accept the Binance NFT Marketplace Terms and Conditions.
Please note that if your account violates the Binance risk management policies, you won’t be able to create NFTs. Please contact Customer Service for assistance.
3. You will be redirected to the minting page. Enter the details of your NFT, including:
Name: The name of your NFT;
- Description (Optional): A brief explanation of your NFT;
- Network: Select the network of your NFT. We have defaulted it to BNB Chain (former BSC), but you can also choose to use the Ethereum network (ETH);
- Collection: Select which collection this NFT will be categorized under from the dropdown list. You will only see the collections on the network you just selected. For example, if you selected BNB Chain, you will only see the NFT collections on BNB Chain.
You may select the collection you just created, or click [+ Add a new Collection] to create another one;
- Properties: Select the properties for your NFT. You can click [Add More] to add up to 100 properties for your NFT.
4. Once the details are set, you’ll see an estimated minting fee. Read and agree to the Binance NFT Minting Rules and Terms of Service, and click [Create].
5. Your file will start to upload. Please wait patiently for us to review your NFT. It will be assessed via an automatic verification system.
Once the minting process is complete, you will see a [Minting Completed] pop-up with the contract address and Token ID of your NFT. Click [View Item] to go to your collection, or click [List NFT] to list it for sale.
If the system requires more time to process your NFT, you will see a [Successfully Requested] pop-up. You will be notified via email when your NFT is minted.
You can enable the minting status notification from [User Center] - [Settings] - [Notification].
6. If the minting fails, you will see an error message. This could happen due to several reasons. For example, the review determines that your NFT contains inappropriate content. Please note that if this happens more than or equal to 5 times within 24 hours, you will be suspended from minting for the next 24 hours.
How to view the Minting History of my NFTs and NFT collections?
You can view your NFTs and NFT collections from [User Center] - [History]. Under [Category], select [Create]. Then select either [NFTs] or [Collections] from the [Assets] filter.
It is divided into seven tabs: [Bidding], [Sales], [Purchase], [Create], [Deposits], [Withdrawals], and [Distribution].
- [Bidding] gives you an overview of any auctions that you are taking part in as a buyer;
- [Sales] shows details of your previous auctions as a seller;
- [Purchase] shows all your successful purchases;
- [Create] shows all the NFTs and NFT collections you created. Under [Create], the assets are further categorized into [NFTs] and [Collections].
- [Deposits] is where you deposit your NFTs to Binance;
- [Withdrawals] allows you to withdraw your NFTs from Binance;
- [Distribution] lets you view the NFTs distributed to your account.
Frequently Asked Questions
1. Who can mint NFTs on the Binance NFT Marketplace?
All Binance users who have completed Identity Verification and have at least 2 followers can mint NFTs on the platform.
2. Which blockchains do Binance use for minting NFTs?
Currently, NFTs are minted on BNB Chain (former BSC) and Ethereum (ETH). We will support more blockchains in the future.
3. What is the minting fee and how much is it?
Minting fees will be charged in either BNB or ETH. You can check the latest minting fees and collection fees here.
4. Which file formats do you accept and what is the maximum file size?
- Image: JPEG, PNG, and GIF
- Video: MP4, MPEG, and AVI
- Audio: WAV and MP3
All files should be under 50MB.
5. Can I cancel the creation process during minting?
Once you have paid the fees and Binance has begun the minting process, it cannot be canceled, deleted, removed, or changed. The NFT information is already added to the blockchain and cannot be reversed.
6. Where is my NFT’s content stored?
Binance stores the content you upload on a centralized database. We do not store your content on the blockchain, but its associated NFT is on-chain.
7. Can I make changes to my minted NFT?
No, once the NFT is minted, it exists on the blockchain forever. But you can delete your NFT and mint a new one from the same file.
8. Can I change the royalty fee after the NFT is minted?
No, the royalty fee cannot be changed. It can only be edited during the collection creation process.
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