Join the Trading Community: Learn & Earn with BingX.
The NFT market is all the rage right now. From BAYC, MAYC and AZUKI – think apes and beans – these digital assets are being transacted for millions of dollars. Unfortunately, the capital threshold for ordinary investors to get into blue-chip NFTs is too high.
BingX, the world’s leading social trading platform, is excited to launch its inaugural NFT crowd subscription project. This project enables our users to participate and own a fragment of blue-chip NFT through the power of the community.
The launch of this innovative product on 29 April 2022 in the CEX platform will bring better liquidity to the overall NFT market, while lowering the barriers to entry for our users. The project will be open to our users for a period of 14 days and supports the USDT/ETH pairing.
Here’s all you need to know about BingX’s latest offering:
Why crowd subscription?
As we all know, high-quality or well-known NFTs are often very expensive, and it is difficult for ordinary investors to invest alone. BingX provides users with a lowered barrier to entry through crowd subscription and thereafter, dividing NFT into multiple fragments so that users can raise funds to buy NFT together. After successful purchase, according to the number of subscriptions, they can jointly enjoy the subsequent benefits of the NFT (such as asset appreciation, airdrop benefits etc.).
How to subscribe?
The NFT crowd subscription project will launch on 29 April 2022, for a period of 14 days. During which, the NFT will be divided into multiple shards, and you can choose to subscribe for a certain number of shards. If the crowd subscription is successful (that is, the target NFT is successfully purchased), according to the number of subscriptions, you can enjoy the subsequent benefits of the NFT (such as asset appreciation, airdrop benefits), or you can choose to sell the fragments to others. At the end of the subscription period, the actual purchases may cost less than the funds raised, and the unused funds will be automatically returned to your account.
How to unfreeze funds?
When participating in this project, your invested funds will be temporarily frozen. If the crowd subscription is successful, the unused portion of your funds will be automatically returned; if it fails, your funds will also be automatically returned.
After the crowd subscription is successful, how do I sell my NFT?
Upon successful purchasing of the NFT, all shard holders can vote to decide whether to sell or not. The more holdings, the higher the number of votes; when the number of votes that agree to sell exceeds 51%, the NFT will be sold, and the funds will be distributed based on shards holdings.
How to sell the NFT fragments I subscribed for?
After your participation in the NFT crowd subscription is successful, you will receive the corresponding number of fragments. BingX will provide a dedicated fragmented trading platform where users can freely place orders and conduct buy/sell transactions.
Be part of the first-ever NFT crowd subscription project by BingX! Join us here.
1. Are there any transaction fees？
No, it is free for a limited time only.
2. Will the revenue be shared if there is an airdrop?
Yes, as a shard holder, you can participate in the sharing of benefits such as airdrops.
3. After participating in crowd subscription, can I withdraw before the crowdfunding ends?
After participating in crowd subscription, early withdrawal is not allowed. You can only withdraw after the subscription period ends.
4. Where are the purchased shard assets displayed?
You can view your purchased assets on the event page under the ‘My portal’ tab.
5. Are there any restrictions on participating users, such as wool risk control users
All registered BingX users can participate.
6. Minimum and maximum subscription amount
Each crowd subscription project has a single subscription share, with a minimum investment of 1 shard. Each user can subscribe multiple copies until full subscription. The specific amount is subject to the actual NFT. More information can be found on the page itself.
Founded in 2018, BingX is a global digital asset, spot, and derivatives trading platform that provides a user-centric and open ecosystem with intuitive social trading features. Created to enrich the entire cryptocurrency industry, BingX is a safe, reliable, and user-friendly venue for users to trade their favourite assets.