OpenSea may be the largest NFT marketplace in the business, but Binance’s NFT platform will soon offer serious competition. Several OpenSea-affiliated NFTs can now be listed on the platform, as a result of one of the company’s recently announced enhancements.
OpenSea and Binance
As reported on November 16, 2022, Binance has finished the required integrations and now offers ERC-721-compliant NFTs. Notably, many of the top 200 NFT collections on OpenSea are based on this standard and can now be featured on Binance as well.
According to Binance, this is part of an effort to become the go-to site for NFT purchases, and other improvements are forthcoming.
“ As a first step, we have aggregated the majority of the top 200 @opensea collections that use the ERC-721 standard. We will continue to integrate more marketplaces and chains into Binance NFT,” the official announcement said.
This was not the only modification to the website. Binance NFT has enhanced user exploration by refining its search bar and filters. While Binance is obviously newer to the NFT market than OpenSea, it appears to be well-prepared to compete with the latter.