Wednesday

Polygon (Old)

X2Y2

<h2 id="tldr">TLDR</h2>
<ul>
 <li>Binance will close its centralized NFT service on July 3, 2026, and require users to withdraw eligible assets before the deadline.</li>
 <li>The exchange stated that NFTs not withdrawn by 23:59 UTC on July 3 will become inaccessible on the Binance platform.</li>
 <li>Non-transferable NFTs, including Binance Academy certificates, cannot be withdrawn and will be replaced with PDF versions.</li>
 <li>Binance will reimburse withdrawal fees for up to 100000 users who move eligible NFTs within the specified window.</li>
 <li>Annual NFT trading volume fell to about $5.5 billion in 2025 from more than $50 billion in 2022.</li>
</ul>
<p>Binance will close its centralized NFT service on July 3, 2026, and users must withdraw eligible assets before the deadline. The exchange confirmed the move on Wednesday and described it as an upgrade to its <a href="https://blockonomi.com/government-backed-services-network-is-building-nft-infrastructure-in-china/" rel="noopener noreferrer nofollow">NFT structure</a>. However, assets left on the platform after 23:59 UTC on July 3 will become inaccessible.</p>
<h2 id="binance-sets-july-3-deadline-for-nft-withdrawals">Binance Sets July 3 Deadline for NFT Withdrawals</h2>
<p>Binance directed users to transfer eligible NFTs to Binance Wallet or another compatible external wallet before July 3. The exchange stated that NFTs not withdrawn by 23:59 UTC will no longer appear on the Binance Exchange platform. Therefore, users must complete transfers within the stated timeline to retain access.</p>
<p>The exchange clarified that transferable NFTs can move through supported networks without restriction during the withdrawal window. However, non-transferable NFTs, including Binance Academy course certificates, cannot move off the platform. Binance <a href="https://www.binance.com/en/support/announcement/detail/0b6eb93d6c934fa48dadd49b1bdf452f" rel="noopener noreferrer nofollow">said</a> the Academy will issue PDF certificates to affected holders as substitutes.</p>
<p>Binance also introduced a temporary fee reimbursement program to support withdrawals. Between June 3 and June 17, up to 100,000 users who transfer non-CR7 NFTs will receive 1 USDC. The exchange will credit the reimbursement by July 3, which matches typical onchain transaction costs.</p>
<p>CR7 NFT holders follow a separate reimbursement structure under the same closure plan. Binance will refund withdrawal fees for CR7 NFTs completed on <a href="https://blockonomi.com/bnb-smart-chain-rises-in-2026-with-record-speed-burns-and-expanding-rwa-ecosystem/" rel="noopener noreferrer nofollow">BNB Smart Chain </a>by 23:59 UTC on July 3. The exchange will distribute those credits by July 19.</p>
<h2 id="binance-retreat-follows-earlier-nft-rollbacks">Binance Retreat Follows Earlier NFT Rollbacks</h2>
<p>Binance has reduced its NFT marketplace exposure over the past two years. In September 2023, the exchange removed support for the Polygon network from its NFT platform. Later, in April 2024, it ended support for Bitcoin Ordinals.</p>
<p>The centralized NFT exit aligns with declining global trading volumes. Total annualized NFT trading volume reached about $5.5 billion in 2025. That figure stands far below the more than $50 billion peak recorded in 2022.</p>
<p>Quarterly data also shows continued contraction across marketplaces. NFT trading volume reached $1.25 billion in Q4 2025, reflecting a 28% quarter-over-quarter decline. December alone generated $303 million in total sales across all chains.</p>
<p>Several established platforms ceased operations during the same period. Nifty Gateway, <a href="https://blockonomi.com/another-exchange-launching-nft-marketplace-kraken-launches-its-waitlist/" rel="noopener noreferrer nofollow">Kraken NFT</a>, and X2Y2 each shut down their NFT services in 2025. Binance confirmed its closure timeline on Wednesday and reiterated the July 3 withdrawal deadline.</p>
<p>The post <a href="https://blockonomi.com/binance-ends-nft-service-sets-july-3-withdrawal-deadline/" rel="noopener noreferrer nofollow">Binance Ends NFT Service, Sets July 3 Withdrawal Deadline</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.</p>

Binance Ends NFT Service, Sets July 3 Withdrawal Deadline

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