Binance is adjusting its NFT service access, with related functions moving from the trading platform to Binance Wallet. After the adjustment, users will primarily manage their assets through the wallet, a change the platform describes as a more direct, decentralized access method.

Complete the withdrawal before July 3rd.

According to the platform's arrangements, users holding transferable NFTs must complete their withdrawals by July 3, 2026. Binance stated that it will send reminders to relevant users and reimburse withdrawal fees for up to 100,000 users.

The platform stated that it will provide additional support for users who hold Cristiano Ronaldo series NFTs. The report did not disclose the specific form of this support.

Non-transferable NFTs converted to files

This adjustment also involves non-transferable NFTs. Related assets, including course certificates, will no longer be retained in NFT form, but will instead be provided to users as PDF files.

This means that Binance is separating its NFT service from its existing trading platform and adopting different processing methods for different types of assets. Transferable assets require users to actively migrate them, while non-transferable assets are stored in document form.

NFT business continues to shrink

This adjustment also reflects the continued weakening of NFT transaction activity. Over the past period, NFT market transactions and user engagement have generally declined, with many platforms scaling back related businesses or restructuring their products.

Binance's shift of its services to the wallet side also indicates that the industry is further moving towards a self-custody model. For users, the most direct impact in the short term will still be the timely completion of the withdrawal of transferable NFTs.