NFTb is the first NFT marketplace for digital art and goods built on BNB Chain. To have an understanding of the way NFTs work on NFTb, we first need to quickly explain how NFTs work in general.
A non fungible token (NFT) is a digital asset that is built on blockchain. NFTs exist as a whole item with bits of information stored in them - this makes it possible for them to take different forms and be created as images, videos, music, GIFs, animations and so on. They hold value as a form of cryptocurrency as such, they can be bought and sold the same way it is done with physical art. It is also important to know that the value of each NFT is determined by market forces and demand.
That being said, there are a variety of things you can do with NFTs on NFTb from listing an NFT to placing a bid, collecting an NFT and more.
As a Creator, you can show the world your priceless work of digital art by linking it to a non-fungible token. By doing so, you get to maintain its authenticity through blockchain as it cannot be changed, replicated or reproduced.
To list your NFT on NFTb as a creator, you first need to create an account, connect your wallet, get verified, upload your artwork and participate in an auction to have your NFT sold. We have tried to make the process as seamless as possible and use of our platform is not localized to any particular country.
NFTs have totally revolutionized the art of keeping collectibles and have fast become widely popular among crypto enthusiasts and corporate organizations.
As a collector, you need to connect your wallet to start collecting NFTs on NFTb. Once your account is set up and you see an artwork of interest, you can place a bid on the artwork while it is on auction. If you are able to outbid other collectors as at the time the auction ends, you become the owner of the artwork/NFT.
Why BNB Chain?
All transactions on NFTb are powered by the BNB Chain network and NFTs can be bought and sold using BNB.
With BNB Chain, lower fees are incurred and transactions are processed much faster than ETH. Minting an NFT during peak ETH network congestion may cost an artist $150 USD (excluding sale transactions) while a Bnb Chain NFT may cost <$1.
We believe that lower fees will empower many amazing artists and creators, by helping them showcase their works and receive the visibility and value they deserve for their works without necessarily breaking the bank to cater to expensive fees.