“Subscription Mechanism” is Binance’s latest upgraded function, which ensures that users can purchase exclusive NFTs fairly.

The subscription mechanism function includes four stages: preparation stage, subscription stage, calculation stage and distribution stage.

To participate in the subscription mechanism, users must reach the minimum holding amount in order to receive the “participation sign” for purchasing NFT.

In this comprehensive guide, we will guide you step by step to successfully buy the first NFT under the subscription mechanism.

Understand the NFT purchase mechanism: This new feature gives all users equal opportunities to successfully purchase NFTs.

Binance NFT Market Introducing a Fair and Just NFT Subscription Mechanism

Based on community feedback, Binance continues to roll out feature updates on Binance NFT Market every month, including the latest reCAPTCHA v3, multi-chain support, new ways to interact with creators, and an intuitive index to help users find their favorite collectibles. This latest feature update provides a new way for users to equally participate in Binance NFT ’s latest offerings and exclusive releases.

With the increasing popularity of NFTs, Binance realizes that it is more difficult to buy NFTs, which is why Binance recently launched the “subscription mechanism”, hoping to ensure that all users have equal opportunities to participate in Binance NFT primary market sales. In this article, you will learn how the subscription mechanism works and the specific steps to participate.

Go to Binance’s Official Website

Open the subscription mechanism

The Binance NFT subscription mechanism is a purchase method that ensures that all participating users have equal opportunities to successfully purchase NFTs. There are four stages in the subscription mechanism process: preparation stage, subscription stage, calculation stage and distribution stage.

1. Preparation stage

In the preparation stage, users must meet the minimum holding amount to participate in the subscription mechanism, and some NFT projects/creators may set higher or lower access requirements. Therefore, if you find your favorite NFT subscription mechanism for sales, the wallet’s currency holdings must meet the minimum holding requirements.

2. Subscription stage

If the user’s balance meets the minimum requirements, it can enter the subscription stage. According to the “User Purchase Limit” set by the NFT project/creator, the user will get a participation ticket.

The number of participating tokens is the maximum number of NFTs that a user can purchase. You can choose to submit some or all of the participating visas to apply for the first-level sales of NFTs. In order to ensure the fairness and impartiality of NFT sales, we must emphasize that purchasing more participating visas does not mean that NFTs can be successfully purchased. Rather, the more participating signatures are submitted, the greater the chance of successfully purchasing NFTs.

Please note: Your tokens will be locked up proportionally and fully unlocked/refunded after the distribution phase is completed according to the number of participating tokens.

3. Calculation stage

The system will select the winning lottery from all the participating lottery subscribed in a fair and random manner. Winning users can purchase NFTs in the NFT primary market.

4. Distribution stage

Winning users can purchase NFTs in the NFT primary market and spend the corresponding funds. If you participate but fail to win the lottery, the corresponding tokens will be automatically returned to the spot wallet.

Winning users can purchase NFT in the NFT primary market and spend the corresponding BNB equivalent funds. The remaining BNB will be automatically returned to the user’s spot wallet.

Go to Binance’s Official Website

It only takes 4 steps to subscribe for the next NFT

Participating in the subscription mechanism is simple and can be completed in just a few steps. Read on to learn and start your subscription journey.

Step 1. Choose your favorite NFT sales event

You can access the subscription mechanism page in three ways, including the IGO login page, the collectibles banner on the blind box page, or the NFT market homepage. Click on the NFT sales activity you want to participate in, and you can see the specific sales mechanism page.

Step 2. Meet the minimum BNB holdings requirement

In order to qualify for NFT sales, please ensure that you can meet the minimum requirement of BNB daily average holdings in order to obtain the entry threshold for the preparation stage. If the BNB holdings are insufficient, BNB can be bought, including credit/debit cards or third-party channels.

Step 3. Apply for Participation Visa

Now that you have met the minimum requirements, you will receive a participation ticket according to the “User Purchase Limit” set by the NFT project/creator.

At this stage, users can choose to put some or all of the participating tokens into the pool to subscribe for the first-level sales of NFTs. All participants in the pool have an equal chance of winning the lottery. The number of participating tokens submitted will determine the number of BNB locked up, and will only be refunded after the end of the distribution phase.

You can completely decide to submit some or all of them to sign up to purchase NFT first-level sales! Afterward, all participating lottery tickets collected will be placed in the pool, and the chances of winning the lottery will be equal. Your tokens will be locked proportionally according to the number of participating tokens.

Step 4. Check Purchase Status

During the calculation phase, each participating lottery has an equal chance of winning the lottery.

After a successful lottery, you can check the NFT purchase status during the distribution stage. After the purchase is successful, you can view the details in the [ User Center ] of Binance NFT. If the purchase fails, the tokens will be automatically returned to the wallet, and you can still buy NFTs on the secondary market. For more information, please click here to read a more detailed application guide.

Go to Binance’s Official Website

Stay up-to-date on Binance NFT launches

Binance NFT is the world’s largest NFT curation market and a comprehensive NFT platform that brings together content creators, world-renowned artists, game developers and other groups.

For the latest NFT launch and information, please follow Binance NFT on Twitter/Instagram or join Binance’s official announcement group.