Binance, a prominent cryptocurrency exchange, is set to launch its NFT trading platform in June. In addition to offering a trading market that allows their clients to mint tokens, the platform will also become a market for providing premium auctions.
The new marketplace will help artists, creators, and crypto enthusiasts worldwide get together and present their creations. We should anticipate a jammed lineup of prime exhibits and NFT partnerships, along with Binance’s industry-best liquidity—all with minimal fees for users and creators.
As per the official announcement, the upcoming marketplace will support both Ethereum and Binance Smart Chain.
As earlier stated, Binance NFT offers two primary services. First, it will feature premium exhibits such as music from famous musicians and high-end art pieces. The artist gets to keep 90% of the proceeds from the auction, while 10% will go to the Binance NFT.
Secondly, the platform offers a stock trading market that enables clients to create their masterpieces and submit their personal NFTs. Creators will be required to pay a processing fee of 1%. Creators will also continuously earn a 1% royalty from the proceeds of sales.
The NFT area of cryptoverse took the world by storm. During the first quarter of 2021, NFT sales exceeded $2 billion, which constitutes a 2,627% quarter-over-quarter rise. NFT has attracted the likes of legendary rapper Snoop Dogg and tech entrepreneur Jack Dorsey.
NFT Trend Intensifies As ‘Disaster Girl’ Meme Sold For Over $430K
Meme Gets Sold For 180 ETH (Approximately $458,000)
Meme NFT sold after it was listed on April 16 for a 24-hour auction. The Disaster girl meme holds a four-year-old girl smiling slyly into a camera as a house burns down behind her.
The 24-hour auction for the NFT relinquished approximately $458,000 or 180 Ethereum (ETH) after numerous bids.
The girl is Zoe Roth, who is now aged 21, went viral after it was taken in 2005 by her father.
Roth’s father first entered it into JPG magazine’s “Emotion Capture” contest, where Roth’s father posted it online and became one of the social media’s famous memes during the time.
A couple of years later, and with credits to the NFT world, Roth and her father found a way to earn some cash using the viral photo. Even though Roth was doubtful in the beginning after getting an email that urged her to sell the meme, she later agreed to give it a try.
NFTs are unique digital collectibles cryptographically blockchain secured. It can be anything from music, digital art, trading card, etc.
The “Disaster Girl” NFT was created so that Roth holds the copyright, and, someone buys it, she earns 10% as part of the sale. This system lets her manage the popular image for the first time in nearly 16 years.
MEME Owners Earning Big Bucks From NFT
Having observed athletes, sports enthusiasts, musicians, and celebrities hop on the NFT bandwagon, meme makers have done the same thing.
Despite that, the ‘Disaster Girl’ was not the first meme to make money from selling her creation as an NFT. Numerous meme owners have already done so previously.
Just one of the first meme-makers to earn from NFT was Chris Torres. His ‘Nyan Cat’ meme, went viral back in 2011 and sold for roughly $590,000. It’s an illustration of a singing gray feline with a Pop-Tart for a body flying through space.
Ever since that time, Torres has assisted other meme makers market their creation by creating online auction functions where viral memes are being sold on the blockchain by their creators.
It won’t be complete if the Grumpy Cat meme is not mentioned. It was auctioned for $100,859.54. The said meme was based on the original grumpy cat (Tardar Sauce) that won people’s hearts back in 2012 when Roth first posted her picture online. She died in 2019. Other NFT memes comprise Bad Luck Brian, Success Kid, and Overly Attached Girlfriend.
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