Binance NFT Marketplace Launches ‘Subscription Mechanism’ for a Fair, Equal Way To Buy NFTs

#binance #NFT #marketplace

Binance NFT, the NFT marketplace of Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, 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 4 steps: preparation, subscription, calculation and distribution.

Helen Hai, head of Binance NFT, said, “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.

“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.”

Have a happy, prosperous holiday weekend, Keep the Faith!