Binance is ending support for NFTs within its main exchange platform. Users have been asked to withdraw transferable NFTs by July 3 and manage them further through Binance Wallet, the company’s non-custodial wallet.
The decision shows how major exchanges are gradually moving away from traditional NFT infrastructure. The segment has remained weak for several years after its 2022 peak, and platforms are reallocating resources toward Web3 wallets, tokenized assets, and more liquid directions.
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NFTs Will Leave Binance Exchange
Binance announced that support for non-fungible tokens on Binance Exchange will be discontinued. Instead of the exchange interface, the company offers users to switch to Binance Wallet, where NFTs can be stored and used in the Web3 environment.
For holders, this means an important deadline. Transferable NFTs must be withdrawn from the platform by July 3. After this date, access to them through the exchange will no longer be possible.
Binance explains the transition as a desire to simplify access to decentralized features. Essentially, the company is separating NFTs from the centralized exchange and moving them to where such assets make more sense: a wallet connected to blockchain applications.
Non-Transferable NFTs Will Be Replaced With Certificates
A separate situation concerns NFTs that cannot be withdrawn due to their design. For such assets, Binance Academy will provide PDF certificates of course completion.
This is an important detail because not all NFTs on the platform work like regular collectible tokens. Some may be tied to education, achievements, or internal programs. If such assets cannot be moved to a wallet, Binance will effectively replace them with documentary proof.
For users, this is a less flexible option than a full NFT, but it preserves the meaning of the asset. The company provides confirmation of participation or course completion, even if the token itself cannot exist outside the old infrastructure.
Binance Will Compensate Part of the Fees
To simplify migration, Binance will launch two promotions with fee compensation for NFT withdrawals. One will concern regular NFTs not related to CR7, the other — CR7 tokens.
The compensation will be valid for one month. The exchange will select up to 100,000 users, each of whom can receive 1 USDC for a qualifying NFT withdrawal. Funds must be credited to Binance spot accounts by July 3.
This format shows that the company wants to speed up asset withdrawals and reduce friction for users. However, the compensation amount is small, so it should rather be seen as a technical incentive, not full coverage of all possible expenses.
Exchanges Are Shutting Down NFT Directions
Binance is not the first major platform to cut NFT services. Kraken closed its NFT marketplace in February 2025. OpenSea stopped supporting NFTs issued on the BNB Smart Chain network back in August 2023.
These decisions reflect a general shift. During the NFT boom, exchanges and marketplaces actively launched separate sections for digital collections. After demand fell, maintaining such products became less profitable.
Now, major companies are more often looking at other directions. Among them are tokenization of real assets, payments, stablecoins, derivatives, and Web3 wallets. NFTs remain part of the market, but no longer appear to be the main source of growth for exchanges.
The NFT Market Has Not Returned to Its Highs
The weakness of the segment is visible in the largest collections. CryptoPunks, the largest NFT collection by capitalization, is trading at a minimum price of about 30.9 ETH. This is 61% below the all-time high of 80.9 ETH recorded in July 2022.
Bored Ape Yacht Club has dropped even more. The collection’s minimum price is about 7.9 ETH, which is 93% below the peak of 128 ETH in May 2022, according to NFTPriceFloor.
This dynamic explains why exchanges are reconsidering their attitude toward NFTs. Even the most recognizable collections have not been able to return to previous valuations, and user activity is much lower than during the market peak.
Binance Bets on Wallet
Moving NFTs to Binance Wallet looks more logical in terms of the current market. NFTs do not completely disappear from the Binance ecosystem, but leave the exchange product for the wallet, where users can interact with Web3 applications directly.
This reduces the load on the main exchange and at the same time supports Binance’s strategy around non-custodial services. The company keeps NFTs as part of the user experience, but no longer keeps them at the core of the exchange infrastructure.
For users, this also changes the usual model. Previously, NFTs could be seen as an asset within a Binance account. Now, responsibility shifts toward self-storage and management through the wallet.
What’s Next?
Binance users need to withdraw transferable NFTs by July 3. After that, managing such assets will be tied to Binance Wallet, and non-transferable NFTs will be replaced with Binance Academy PDF certificates.
For the market, this is another signal that the NFT segment remains in a phase of reevaluation. Major platforms are not abandoning Web3, but are reducing products that lost mass demand after the 2021–2022 peak.
The main takeaway is simple. Binance is not closing the door to NFTs completely, but is removing them from the core of the exchange. This shows that the future of such assets is increasingly associated not with centralized marketplaces, but with wallets, applications, and more niche use cases.
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