Binance stated in the announcement that in order to promptly follow up on suggestions from the community about the NFT minting function and prevent minting of low-quality NFTs and abuse of this function, Binance NFT has reviewed and will update the minting fees of the NFT series, as well as adjust Binance The minimum follower requirements required for NFT platforms to obtain NFT minting functionality. This update will take effect at 07:59 on February 16, 2023.

The announcement states that Binance NFT regularly reviews listed NFT collections to ensure they meet standards. If the NFT series do not meet the standards expected by Binance, the Binance NFT platform may conduct stricter scrutiny and delist these NFT series from the Binance NFT market.

After the update, all users who have at least 10 followers on Binance NFT and complete the standard identity verification can mint NFT. Each NFT series requires a fixed series minting fee, which includes smart contract deployment fees and service fees. The collective minting fee is charged as follows: Ethereum (ETH): 0.50 ETH; BNB Smart Chain (BSC): 1.00 BNB.