• Home
  • |
  • Binance NFT Marketplace Introduces ‘Subscription Mechanism’ To Provide a Fair and Equal Way To Buy NFTs – The Daily Hodl

January 11, 2022

January 10, 2022 – Singapore, Singapore

Binance NFT, the NFT marketplace of Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the launch of the ‘subscription mechanism’ feature. With this new feature, all participating users stand a fair and equal chance of successfully purchasing an NFT during NFT primary sales.

The subscription mechanism consists of four phases – preparation, subscription, calculation and distribution.

During the preparation phase, users are required to meet the minimum daily average BNB holding – which is set by the NFT creators and may differ from project to project – to be qualified to participate in NFT primary sales. The average daily holding amount of a user is calculated based on the average of their total BNB amount in all wallets from the date where the preparation phase starts.

Users who meet the minimum requirement will proceed to the subscription phase where they would be allocated participation tickets to join the sale. Each qualified user will receive the same quantity of participation tickets, as determined by the NFT projects.

During this phase, users have the option to subscribe to the NFT primary sale by committing part or all of their participation tickets to a pool, where all committed tickets have a fair chance of winning. The number of committed participation tickets will determine the amount of BNB to be locked, which will only be refunded at the end of the distribution phase.

Aside from being an entry requirement, the amount of BNB holding does not affect the probability of a user successfully purchasing an NFT. Only the total number of committed participation tickets will affect the probability of getting drawn to purchase NFTs. The more tickets a user commits, the higher the chance for the user to buy more NFTs in the NFT primary sale.

See also
US stocks fall as investors struggle to stage a recovery from Fed-induced sell-off

The system will select winning tickets from all committed participation tickets in a fair and random manner during the calculation phase. A winning ticket allows the user to purchase an NFT in NFT primary sales.

Lastly, during the distribution phase, users who hold winning participation tickets will be able to purchase the NFTs in NFT primary sales, and the BNB equivalent will be deducted accordingly. The remaining BNB will then be automatically refunded to users’ spot wallets.

Helen Hai, head of Binance NFT, said,

“As Binance NFT has always been committed to building an inclusive platform, we believe that the subscription mechanism will add value to our mission. Not all users have been able to buy the NFTs they want due to the high price or popularity of the works. With this new feature, Binance NFT provides equal opportunities for users to purchase NFTs through the primary sales, and we hope that this will allow users to participate in the NFT market more actively.”

In just a little over a month after its debut, Binance NFT became one of the fastest-growing NFT platforms in the world, generating 25 million BUSD in sales, selling over 300,000 mystery boxes and onboarding over 400 creators globally. Today, Binance NFT has sold over 1.3 million mystery boxes and earned over 470 million BUSD in sales in total since its launch.

Binance NFT marketplace shares the same account system as Binance.com. Existing Binance users are able to access the NFT marketplace and trade with their current Binance accounts. New users simply have to register on Binance.com to create or trade on the Binance NFT platform. Binance NFT has also added multi-chain support for NFT deposits and withdrawals. Users can now transfer their NFTs to and from Binance Smart Chain and Ethereum networks with ease.

See also
Inflation Hits Record Highs… Again – Goldco
About Binance NFT

Binance NFT, the official NFT marketplace of Binance, offers an open market for artists, creators, crypto enthusiasts, NFT collectors and creative fans around the world with the best liquidity and minimal fees. It consists of three product lines – premium events, mystery box and a marketplace. Now, Binance NFT aims to build the first and largest GameFi NFT trading platform for gaming projects via IGO (initial game offering), featuring core in-game assets from top gaming projects. For more information, visit here.


Highest Customer Ratings For Gold IRA Companies




Over 550+ total reviews

  • Highest overall average customer reviews
  • Largest investor resource team
  • The most trusted gold IRA company in the United States




Over 340+ total reviews

Related Posts

Will Sanctions on Russia Expose the Dollar’s Weakness?

Will Sanctions on Russia Expose the Dollar’s Weakness?

Can You Buy Gold with Bitcoin? Is It Safe?

Can You Buy Gold with Bitcoin? Is It Safe?

Pros and Cons of Investing in a Bitcoin IRA

Pros and Cons of Investing in a Bitcoin IRA

Silver & Gold Could Outperform Industrial Metals in 2022 – Street Wise Reports

Silver & Gold Could Outperform Industrial Metals in 2022 – Street Wise Reports
Photo is a selfie of Nathan Rosevear

Nathan Rosevear

Nathan offers insights and reviews around the highest rated precious metal IRA specialists. He is an investor in gold and silver industry.
His passion is helping Americans secure their finances through stable investing and provides such help by blogging valuable information for investors to make sound financial decisions.
Do you want some help figuring out your precious metals Investment? Feel free to give me a call at 604 603 7953.
Let me connect you with the best in the business based on your financial situation and help you save some time and maybe save you some hard earned money.
Nathan Rosevear is not a financial advisor. No financial advise will be given on phone calls. Investors are urged to seek professional advice when necessary.
Gold Investment review is paid to recommend some of the services listed on this website by referring you to the right companies. No additional cost is attributed to the investor.