The much-awaited Binance NFT marketplace went live last week on Thursday, June 24. The “Genesis” auction that kickstarted on the same day featuring popular artworks like Andy Warhol’s “Three Self Portraits” and a digitized NFT of Dali’s “Divine Comedy: rebeget”.

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Tron’s Justin Sun won the bid Warhol’s “Three Self-Portraits” NFT for a staggering $2.8 million at the Binance NFT auction. This is a great start to Binance’s NFT marketplace as the auction happens at a time when the NFT industry is facing a severe slowdown.

Tron founder Justin Sun has been one of the active participants in the NFT market and has been keen on acquiring digital collectibles over the last few months. Sun has won several auctions in the past with some popular ones like Beeple’s “Ocean Front” for a massive $6 million.

Besides, Sun was also aggressively bidding for Beeple’s “Everydays – The First 5000 Days” NFT that sold for a staggering $69 million. However, Sun was unfortunate to lose the bid at the last moment.

Citing future potential in the NFT market, Justin sun has launched his own JUST NFT fund. This fund is basically an NFT platform that would mint some of the world’s top artists and their digital artworks on the blockchain.

Binance’s Mystery Box and Creators Program

Along with launching the NFT marketplace last Thursday, Binance’s NFT platform also unveiled its new Mystery Box. This provides a new way for traders to access special NFTs wherein each mystery box will contain a set of different NFTs. The first Mystery Box 16 “tokidoki” characters, toys from the Japanese lifestyle brand by Italian artist Simone Legno.

On the other hand, to push forward the development and growth of its NFT marketplace, Binance also announced its 100 creators program. this program aims to feature 100 artists on the Binance NFT marketplace and sell their work in form of digital collectibles.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.