Binance Shuts Down NFT Marketplace

CryptoProwl

Wed, June 3, 2026 astatine 8:10 AM CDT 1 min read

Cryptocurrency speech Binance has shutdown its non-fungible token (NFT) level pursuing a prolonged downturn successful the marketplace for integer art. 

NFTs are integer creation that incorporate a unsocial integer identifier recorded connected a blockchain that certifies ownership and authenticity. They tin besides see integer shot cards and comic books.

The NFT marketplace peaked during the Covid-19 pandemic and saw yearly trading volumes of much than $50 cardinal U.S. successful 2022.  

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But the marketplace contiguous generates astir $5.5 cardinal U.S. successful trading volumes pursuing a prolonged downturn that has seen prices for NFTs collapse.  

Binance said successful a connection that users indispensable retreat transferable NFTs from its speech earlier midnight connected July 3 of this twelvemonth oregon they volition nary longer beryllium capable to entree those assets. 

The speech has directed users to transportation eligible NFTs to Binance Wallet oregon different outer crypto wallet.

Privately held Binance had antecedently reduced its NFT offerings starting successful 2024 erstwhile it became wide that the marketplace was improbable to recover. 

Several different NFT businesses person shutdown successful caller years, including platforms specified arsenic Nifty Gateway, Kraken NFT, and X2Y2.

As a backstage company, Binance’s banal does not commercialized connected a nationalist exchange.