Binance shuts down NFT marketplace amid prolonged market downturn

Binance has announced the closure of its NFT platform, ending support for a service that once operated during a period when annual NFT trading volumes exceeded $50 billion but now serves a market that generated about $5.5 billion in 2025.

According to the June 3 announcement, users must withdraw transferable NFTs from the exchange before 23:59 UTC on July 3, 2026, or they will no longer be able to access those assets through the platform. 

The exchange described the move as an upgrade and directed users to transfer eligible NFTs to Binance Wallet or another compatible external wallet.

For users holding non-transferable NFTs, including completion certificates issued through Binance Academy, withdrawals will not be possible. Binance said those NFTs will become inaccessible after the deadline, while Academy users will receive replacement certificates in PDF format.

Under the exchange’s announcement, up to 100,000 users who transfer eligible non-CR7 NFTs through BNB Smart Chain or Ethereum between June 3 and June 17 will receive 1 USDC. 

Binance said the payment is intended to cover the cost of a typical onchain withdrawal transaction and will be credited by July 3.

Separate arrangements apply to holders of CR7 NFTs. Binance said withdrawal fees for those collections completed on BNB Smart Chain before July 3 will be refunded, with credits scheduled for distribution by July 19.

NFT platform joins growing list of discontinued services

Earlier decisions had already reduced Binance’s NFT-related offerings. In April 2024, the exchange ended support for Bitcoin Ordinals, and in September 2023 it removed Polygon network support from its NFT marketplace.

Market conditions have also deteriorated sharply from the sector’s peak years. According to CryptoSlam, annualized NFT trading volume across all blockchains totaled roughly $5.5 billion in 2025, far below the more than $50 billion recorded during 2022.

CryptoSlam data also showed Q4 2025 NFT volume reached $1.25 billion, down 28% from the previous quarter. December contributed only $303 million in trading activity.

Several NFT businesses exited the market during the same period. Platforms including Nifty Gateway, Kraken NFT and X2Y2 shut down their NFT operations as trading activity continued to contract, according to previously reported industry data.

Binance expands into stocks and tokenized assets

While Binance is winding down its NFT marketplace, the company has recently expanded into traditional financial products.

As previously reported by crypto.news, the exchange has started offering more than 7,000 U.S.-listed stocks and ETFs for eligible users outside the United States. The service allows fractional purchases from $5 and operates around the clock on weekdays.

Details released by Binance and Alpaca showed that the exchange holds a minority stake in Alpaca, the brokerage infrastructure provider supporting the stock trading product. Alpaca Securities handles execution, clearing, settlement, and custody, while Binance said it does not custody the securities traded through the service.

Binance has also stated that its planned bStocks product will allow eligible users to convert supported equity holdings into onchain assets in the coming weeks.