The cryptocurrency exchange Binance launched its own non-fungible token (NFT) Marketplace on June 24 and started with auctions of works by Andy Warhol and Salvador Dalí.
The online auctions began under the name “Genesis” with an NFT of three self-portraits by Andy Warhol, as well as a recently digitized work by Salvador Dalí called “Divine Comedy: rebeget”, and the company even dubbed its Marketplace an “NFT renaissance.”
The market will run on the Binance Smart Chain that operates on the Ethereum network and the auctions will last five days. The Marketplace launch is part of the “100 creators” program, where selected creators sell their artwork in the first week. The statement states the following:
“Here at Binance, we can’t wait to introduce you to Binance NFT, it will feature exclusive collectibles and must-see content from some of your favorite artists and creators. We work hard to deliver what we believe will be the best no-compromise NFT experience you’ve been waiting for. Whether you are an avid collector, creator or new to NFT, there is something for everyone. “
Binance NFT Director Helen Hai pointed out that “Genesis” represents all the values of the company, where art, blockchain, crypto and Fintech coexist. He explained that Warhol’s self-portraits have three interpretations (Nirvana, Vitality & Harmony) and feature an individual style.
The objective is to democratize access to the NFT market
The launch of the Binance NFT market is a strategic move by the exchange to expand its brand globally, for this reason it integrates creators of crypto art from around the world, coupled with the fact that it started with works by authors from the United States and Spain (Dalí) . The company explained it clearly in a statement:
“Our goal is to build the world’s largest NFT trading platform by leveraging the fastest, cheapest and most secure NFT solutions powered by Binance’s blockchain infrastructure and community.”
Binance explains that the importance of “Divine Comedy: rebeget” by Salvador Dalí lies in the fact that it presents elements of blockchain, including the Bitcoin symbol, the company logo and the CZ signature, which is a direct nod to the impact that the marketplace seeks to generate in the world and the details are only seen when the image is enlarged.
What’s more, Binance NFT will also integrate the concept of “mystery boxes” where users will be able to unlock special NFTs, from limited edition pieces to the most common collectibles on the market.. The first asset to debut will be “tokidoki” which means “sometimes”, which belongs to a group of pieces, of which up to 110 thousand digital arts have been sold in minutes.
The post Binance launches its NFT Marketplace and will include works by Warhol and Dalí was first seen on BeInCrypto.