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Binance NFT Launches NFT VIP Program | Binance Support
Fellow Binancians,
Binance NFT is delighted to announce the upcoming launch of the NFT VIP Program at 2023-06-01 05:00 (UTC), which extends additional privileges to all eligible NFT users.
The program consists of two sub-programs: NFT Trader VIP Program and NFT Holder VIP Program. Under the NFT Trader VIP Program, NFT traders can automatically qualify for NFT VIP level upgrades by meeting the 30-Day NFT Sell Volume and 30-Day NFT Trade Volume requirements. Alternatively, NFT holders can qualify for NFT VIP level upgrades automatically by meeting the Daily Average NFT Asset Holding Value Over the Past 30 Days requirement in the NFT Holder VIP Program.
NFT VIPs will stand to enjoy lower trading fees at Binance NFT Marketplace, as well as Binance VIP level upgrades of up to VIP 4 depending on their NFT VIP level. This will allow more users to access privileges that are available to Binance VIPs only, such as reduced Spot and Futures trading fees, key account coverage services, and exclusive invitations to Binance events.
Note: Only eligible NFT collections will count toward the requirements in the NFT VIP Program. Please refer to the fee page for the full list of eligible NFT collections.
NFT Trader VIP Program Requirements:
NFT Holder VIP Program Requirements:
Notes:
Users who meet the corresponding sub-program’s requirements will be automatically upgraded to the respective NFT VIP level at 05:00 (UTC) daily. There is no need for users to apply for the program.
Users can refer to their Binance NFT profile to check their current NFT VIP level. If a user qualifies for more than one NFT VIP sub-program, the highest NFT VIP level shall apply.
All NFT VIPs will also receive Binance VIP level upgrades of up to VIP 4 based on their latest NFT VIP level at 05:00 (UTC) daily, as per the tables above. In addition, existing Binance VIP 1-9 users will be able to enjoy lower trading fees at Binance NFT Marketplace, as they will be matched to the NFT VIP 1-9 tiers in the NFT VIP Program automatically.
For example, Binance VIP 9 and NFT VIP 9 users will be charged the same discounted fees when completing trades at Binance NFT Marketplace. The same applies to Binance VIP 8 and NFT VIP 8 users, and so on.
NFT Trader VIP Program
Only buys and/or sells on eligible NFT collections will count toward the 30-Day NFT Sell Volume and 30-Day NFT Trade Volume requirements in the NFT Trader VIP Program, where applicable. Please refer to the fee page for the full list of eligible NFT collections.
30-Day NFT Sell Volume refers to the USDT-equivalent value of all qualified NFTs sales completed by the user at Binance NFT Marketplace in the past 30 days.
30-Day NFT Trade Volume refers to the USDT-equivalent value of all qualified NFT purchases and sales completed by the user at Binance NFT Marketplace in the past 30 days.
Binance will use the real-time USDT exchange rate when the NFT buy/sell orders are completed in the daily calculations of the 30-Day NFT Sell Volume and 30-Day NFT Trade Volume.
NFT Holder VIP Program
Only NFT asset holdings from eligible NFT collections will count toward the Daily Average NFT Asset Holding Value Over the Past 30 Days requirement in the NFT Holder VIP Program. For the full list of eligible NFT collections, please refer to the fee page.
Binance will take a snapshot of all qualified NFT asset holdings in users’ accounts at 01:00 (UTC) daily. Using the NFT floor prices of all eligible NFT collections at 01:00 (UTC), Binance will then calculate users’ Daily Eligible NFT Asset Holding Value and Daily Average NFT Asset Holding Value Over the Past 30 Days, as per the formulas below.
Daily Eligible NFT Asset Holding Value = [(Number of NFTs from Eligible NFT Collection 1 x Floor Price of Eligible NFT Collection 1 at 01:00 UTC) + ... (Number of NFTs from Eligible NFT Collection N x Floor Price of Eligible NFT Collection N at 01:00 UTC)]
Daily Average NFT Asset Holding Value Over the Past 30 Days = Sum of users’ Daily Eligible NFT Asset Holding Value in the past 30 days / 30 (days)
Learn More About Binance NFT Marketplace:
What Is the Binance NFT VIP Program
How to Get Started with the Binance NFT Marketplace
How to Buy NFTs on Binance NFT Marketplace
How to Sell NFTs on Binance NFT Marketplace
Terms & Conditions:
Users are required to complete identity verification to participate in the NFT VIP Program.
All NFT asset holding amounts, NFT trading volumes, and metrics related to the NFT VIP Program are measured by Binance at its sole and absolute discretion. Binance reserves the rights to the review and final approval of tier adjustments, in line with internal requirements.
Trading volume counts both buys and sells, excluding any wash trades.
Binance reserves the right to disqualify users from the program if the account is involved in any dishonest or fraudulent behavior (e.g., wash trading, illegally bulk registered accounts, self dealing, or market manipulation).
For more information on the fee structures of other products and services, please refer to the VIP Fee Structure.
Binance reserves the right to cancel or amend the Program or Program rules at its sole discretion.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-05-29
Trade on-the-go with Binance’s crypto trading app (iOS/Android)
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Risk Warning: The value of your NFT may go down or up. NFTs are subject to high market risk. Binance is not responsible for verifying the identity, legitimacy or authenticity of any NFT. NFTs are not regulated in most countries, however please ensure you are permitted to access our Binance NFT Marketplace based on your circumstances. For further details, see the Binance NFT Terms and Conditions, our Terms of Use and Risk Warning.
