Binance introduced a new process that lets users have a fair chance of acquiring NFTs through its marketplace.
Due to the rise in demand, it’s increasingly harder to purchase nonfungible tokens on their initial launch. Because of the limited supply, and high demand, some NFT drops haveWith this, users who are interested in purchasing newly-released collections have no choice to wait until the initial owners decide to flip the NFTs for some profit, resulting in having to pay more or not being able to acquire any of the NFTs entirely.
Users who want to participate in NFT Subscription Mechanism sales need to follow a process that consists of four phases — preparation, subscription, calculation and distribution. In the preparation phase, users have to hold the minimum amount of tokens required to participate. Binance notes that the minimum entry requirement is determined by the creators or project that will conduct the NFT sale.
The subscription phase comes next. Here, qualified participants will then be given participation tickets which will have purchase limits per user set by the NFT creators. The number of tickets received by a user will be the maximum amount of NFTs that can be purchased. However, users have the option to decide whether to use all or only a few of their tickets. Having more tickets doesn’t mean you will get the NFT. However, it will give you more chances to succeed in your purchase.
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