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How to Give NFTS as a Gift With Binance

Let's face it – buying gifts for friends and loved ones can be a daunting task. What can you gift that conveys both your love and appreciation for the recipient while also being unique and interesting? There's an option you may not have considered before, and that's gifting NFTs (or non-fungible tokens). These digital assets are unique and interesting, and they can provide a lot of enjoyment for the recipient – especially if they're into finance and collectibles. Here's a quick guide on how to gift NFTs with Binance!

Do NFTs Make Good Gifts?

You may be wondering – why on earth would anyone want to gift an NFT, as opposed to something physical? The answer is simple: NFTs offer a unique, digital experience that the recipient can truly appreciate.

If it helps, you can think of an NFT as a unique and valuable artwork. Would you gift someone a painting or sculpture? NFTs are simply digitized artworks that come with an authenticity certificate and all. 

There are plenty of reasons to gift NFTs:

  • They're still new and exciting. NFTs haven't been around for very long, meaning they offer a unique and exciting experience that many people are yet to discover. Gift your recipient an NFT, and you'll be opening up a whole new world for them to explore.
  • They are scarce and valuable. Just like physical objects, NFTs come in different shapes and sizes – but unlike physical objects, the scarcity of some NFTs makes them incredibly valuable. If you know someone who loves collecting things, an NFT could be the perfect gift for them.
  • NFTs can have sentimental value. Since there are so many types of NFTs, it's possible to find one with sentimental value for the recipient. This could be an artwork associated with a special memory or moment, or it could simply include a picture or symbol that reminds you of the person you're gifting it to.
  • NFTs are perfect for your curious friends. If you're buying a gift for someone who has already been dabbling in stocks, crypto, and the like, an NFT could be the perfect next step for them. They'll appreciate the unique experience NFTs offer, and you'll know that you're giving them something valuable and exciting.

Even if the NFT decreases in value (or flops altogether), you'll have given the recipient a unique digital experience that they can talk about and remember for years to come.

How Do I Find an NFT Gift?

If you're new to the NFT or crypto space, you may not know about exchanges. These are websites specifically set up for the minting and trading of NFTs. On these platforms, you can find various NFTs, from games to digital art and collectibles. Some are available for purchase outright, while others ask for bidders.

Binance is one of the most popular exchanges by far. It was originally designed for cryptocurrencies but has since branched out into NFTs. It's a hot destination for non-fungibles – and there's something for everyone to find, no matter their interests.

What You Need To Know Before Gifting an NFT

Before taking the leap and purchasing on Binance, it's important to note the unique Binance NFT fee system. Here's what you need to know:

  • Deposit fees, or gas fees, are incurred whenever you deposit an NFT onto the Binance platform. This is to prevent spam and maintain network health. You can set this to your desired rate (within parameters).
  • Platform fees apply to all purchases and sales. Binance has a flat rate of 1% per trade.
  • Withdrawal fees are incurred when you remove NFTs from Binance. The rates are taken from whichever blockchain you are withdrawing to and go toward paying miners' fees for that blockchain.
  • Royalty fees ensure that NFT creators receive a percentage of each transaction made on their artwork. On Binance, sellers need to pay between 1-10% of the total sale price to the creator.
  • Minting fees apply to people who create new NFTs. A fee of 0.000001 BNB for each creation on the Binance Smart Chain goes to the Binance team and is used to upkeep the network and continue development.

When purchasing an NFT as a gift, the main fees to note are the deposit and platform fees. Because Binance does not currently have a way to gift NFTs directly, the recipient will need to create their own account on the platform before they can receive the NFT.

Let's take a look at the different types of NFTs you can expect to find on Binance.

Learn more: Binance Launches Binance NFT Mini App Feature

Premium NFTs

Like real artworks, there are NFTs that are highly sought-after and come with a high price tag. These are known as premium NFTs. They can be rare, or they may have been created by a well-known artist or game developer.

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Special DICE NFT - SuperRare ($1,236.36 USD)

Art NFTs

If you are planning to gift an artist or an art lover, then you should consider an Art NFT. These tokens are often created by highly artistic people who use new and innovative technologies to bring their work to life. As a result, the art that is produced can be quite breathtaking.

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AI Art Key #2395 ArtificialPaintings ($231.25 USD)

Sports NFTs

Sporting stars and fanatics have flooded the NFT scene with collectible items, minting everything from digital autographs to graphic designs and exclusive images. Your sports-obsessed friend would love an NFT from their favorite player or team.

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Basketball ($327.90 USD)

Entertainment NFTs

Under the 'Entertainment' tag on Binance, you'll find common suspects like Bored Ape Yacht Club – NFTs that are entertaining to look at and interesting to own. Many people buy these to use as profile pictures on social media, as they often come with unique designs or animations.

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Mobox Avatar #6280396 ($590.76 USD)

Gaming

Since video games are incredibly graphics-heavy, they're perfect candidates for NFTs. For your family members or friends who love gaming, you may even be able to find them an NFT that unlocks new content on their favorite game.

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Vmates Dog Mystery Eggs ($79.09 USD)

Collectibles

On Binance and other marketplaces, some artists choose to release a collection of NFTs as opposed to a single one. These might be considered more like collectibles and can often be quite valuable. Gifting one of these unique pieces is a great idea for crypto lovers.

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Crazy Rabbits by Fira_R

Esports NFTs

Multi-player games are perfect candidates for NFTs. They can be used to represent in-game items and accessories, as well as the players themselves. 

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[Common] Spearman - Thad ($15.02 USD)

NFT for Good

If you're looking for a gift that gives back, there are a few NFTs on Binance designed specifically for charitable giving. Many of these tokens have a system wherein part or all profits go to charity. Others simply serve to raise awareness or remind us of important issues.

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Child with Lucemia ($1.50 USD)

"You are witnessing the abnormal increase of red blood cells in child with leukemia. Bone marrow transplantation saves lives. This collection is to raise awareness. A collection of 999 different diseases."

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♻ 【Clean planet collection】- PLASTIC ☠ ($326.90 USD)

"Tons of plastic still end up in rivers, seas and oceans. The volume of plastic waste is growing like a snowball from year to year, with dire consequences for human health, the global economy, biodiversity and climate. In this situation, it is urgent to reduce the use of plastics and change the cycle of its production and distribution."

How To Gift an NFT

As you can tell, there truly is an NFT to suit every personality and occasion. So, how do you go about gifting one?

Binance has made it incredibly easy to gift NFTs with just a few simple steps:

  1. Join Binance. To do this, simply register for an account on Binance using your phone or email. 
  2. Top up your account. Binance NFT only accepts BNB, BUSD, or ETH, so you will need to top up your account with one of these currencies. 
  3. Find the NFT you want to gift. You can browse between categories, and there are plenty of filters you can apply via Marketplace to help you find the perfect NFT.
  4. Purchase the NFT. It is crucial to get all of your information correct here as you will not be able to change it once the purchase is complete. 
  5. Transfer the NFT to your recipient. Voila! You have now gifted your friend or loved one an NFT.

It's an incredibly simple process and one that takes just a few minutes. Plus, it's a great way to show your loved ones that you care about them and want to help them get started in the world of NFTs – and there's a price to suit every budget.

Read more: How to Access Binance NFT Mini App on Binance App

Conclusion

It isn't always easy to think of valuable and meaningful gifts for your friends and families. Non-fungible tokens, however, are a new and exciting type of digital asset that can make for the perfect present. By giving someone an NFT, you're not only providing them with a unique and interesting token, but you're also opening up the door to a new world of possibilities. 

Thanks to platforms like Binance NFT, it's now easier than ever to give NFTs as a gift. All you need is an account on Binance and some tokens in your wallet. From there, it's a simple process to send NFTs to anyone you choose. Start exploring the marketplace today – you'll be amazed at the wide variety of artworks and collectibles on offer.

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