Less than a year since its launch, Binance’s NFT Marketplace has quickly grown into one of the leading NFT trading platforms globally, boasting over a million users. Here’s why.
How to Build a Successful NFT Platform In Months
In June 2021, Binance launched its non-fungible token (NFT) marketplace. The idea was to capitalize on the mainstream euphoria surrounding digital assets and collectibles. 2.5 million NFTs and over 1000 creators later, that idea has grown into a huge success and made Binance a global NFT trading powerhouse.
During a recent interview at the two-day Paris Blockchain Week Summit (PBWS), the head of Binance NFT platform, Helen Hai, discussed the early inspiration for the NFT platform, her vision for regulatory communications, and other related topics.
According to Helen, for the Binance NFT platform, the initial inspiration stemmed from the potential of an artistic renaissance through blockchain technology.
“Six months down the line, we have accumulated millions of users and have innovated the mystery box and the gaming industry’s initial game offering (IGO) model. We’re still in the learning stage, but we’re working with our users every day on how we can help creators to get more connected with them.”
“For us, it’s very much 2% strategy and 98% implementation,” she said when speaking of the company’s optimistic value of idea creation and their learn-as-you-go deployment style.
Helen stated that the platform’s success is partly due to the empowering support of Binance founder and CEO Chaopeng Zhao, known as CZ.
“CZ really empowers leaders like myself. If I have a good idea, he says, Helen, why don’t you just try it, and you’ll prove yourself.”
Bridging the Gap through Web3
During the second industrial revolution, the Asian economy capitalized on the existing growth potential by prioritizing job creation for the lower and middle classes.