Binance is all set to launch its dedicated non-fungible token (NFT) marketplace on Thursday. The leading exchange has confirmed that their first auction would be featuring artworks by top artists including Andy Warhol and Salvador Dali.
According to the launch schedule announced by Binance, trading on the platform will start around 10 a.m. Singapore time (which is 02:00 UTC and 10 P.M. Eastern Time).
The first auction on the Binance NFT marketplace will feature Andy Warhol’s “Three Self Portraits” and a digital NFT version of Salvador Dali’s “Divine Comedy: rebeget.” The auction will be live for five days.
Earlier in April, inspired by the popularity of NFT tokens and open marketplaces, Binance announced launching a native marketplace to tap into the emerging market.
While NFTs gained immense popularity at the beginning of the year, the fervour has cooled off. Recently, Coinbase co-founder said that he believes over 90% of NFTs will have no value in the coming 3-5 years. Also, the overall trade volume of the NFT tokens is low by about 90% recently. However, much of that can be attributed to the plummeting prices of top tokens and a struggling market.