Binance Discontinues NFT Support Amid Market Decline

Binance has announced that it will be shutting down its support for non-fungible tokens (NFTs) on July 3, 2026. This move follows the decline of the NFT market, which saw trading volumes drop from a peak of nearly $24 billion in 2022 to around $1.2 billion so far this year.

According to reports, Binance will be removing NFT management from its main platform and encouraging users to use self-custodial wallets instead. This change is expected to affect all current holders of NFTs on the exchange, who will have one month to move their assets before they become inaccessible.

The decision by Binance follows a trend of other platforms abandoning NFT operations in recent months. Gemini-owned Nifty Gateway and Kraken NFT are among those that have shut down, while the sector's marquee conference, NFT Paris, was canceled earlier this year due to market conditions.