Binance Abandons Centralized NFT Support, Shifts Users to Self-Custody Wallet

Binance has made a significant change in its stance on supporting Non-Fungible Tokens (NFTs) on its exchange. As of July 3, the exchange will no longer support NFTs, and users are required to transfer their assets to the Binance Wallet.

The shift is part of Binance's effort to give users easier access to Web3 and decentralized features. This move marks a change in strategy for Binance, which had previously shut down its dedicated NFT marketplace in 2023.

Users holding non-CR7 NFTs have until June 17 to claim reimbursement for withdrawal fees. The reimbursement program will provide up to 100,000 users with 1 USDC each for completing eligible withdrawals before the deadline. However, this offer is only available for non-CR7 NFT holders and has a limited number of participants.

Those holding CR7 NFTs linked to Cristiano Ronaldo have until July 3 to claim reimbursement for withdrawal fees. This extended deadline provides them with more time to complete their withdrawals and receive their credits by July 19.