Wanting to ensure inclusive and fair participation for all NFT enthusiasts, Binance has introduced a new mechanism for its NFT platform.
Binance NFT, the digital collectibles marketplace launched by the world’s leading cryptocurrency ecosystem Binance, is changing the registration model for the upcoming sales of collectibles. Binance NFT Marketplace will offer a four-tier subscription design.
https://twitter. com/TheBinanceNFT/status/1478716995369455618
According to Binance’s official announcement, the NFT platform has radically changed the registration model. The new design is set to guarantee fair and inclusive opportunities for all BNB holders.
The new mechanism consists of four phases: Preparation, Subscription, Calculation and Deployment. During the “Preparation” phase, users will keep their average daily BNB balance for a predetermined period of time. The exact volume of BNB to be stored will be determined by the team behind the sale.
During the “subscription” phase, all eligible users will be invited to reserve an allocation. Allocations will be distributed through a lottery mechanism. Users will lock BNB for the purpose of purchasing tickets for sales. In the “Calculation” phase, the system will select the winners. Lucky participants will be able to make NFT reservations in proportion to the number of tickets they purchase.
Finally, new NFTs will be transferred to the winners during the “Delivery”; The remaining BNBs will be refunded to spot accounts on Binance (BNB).