fbpx
Skip to content Skip to sidebar Skip to footer

Binance BNB could Be A Strong Contender for NFT Blockchain

Binance Smart Chain NFT blockchain

In our recent article where our editorial team tried to find out the cost of minting an NFT, all of us were shocked at the result. Even before any creator or artist embark on his or her NFT journey, the process of minting an NFT will set him/her back by several hundred USD.

The economics is staggering considering that most artists have several tens if not hundreds of artworks for sale. Take for example, the famous Beeple, he has several thousands of the art for sale. Minting all these NFTs would costs serious money.

Are NFTs then a playground for the more well-heeled? It would seem to go against the ethos of decentralisation which is to avail this technology to the masses.

There are several NFT-focused projects out there such as Enjin. But, no other project is as well funded and pushed aggressively as Binance. In face, Binance’s own Binance Smart Chain (BSC) has been touted as a strong contender to develop an NFT token.

Until Ethereum gas prices are reined in, most of the NFT developers would be compelled to explore Binance Smart Chain as a lower cost alternative.

[ Read more: How Much Does It Cost To Mint An NFT? ]

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

111 North Bridge Road, 21-01, Peninsula Plaza, Singapore 179098.

Phone: +65-80282938

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us