Binance announced that it will stop supporting NFTs on its centralized exchange starting July 3. All existing holders must transfer their assets to a self-custody wallet before the deadline; otherwise, they will permanently lose access rights. Annual NFT trading volume fell from about $23.8 billion in 2022 to about $1.2 billion in 2026; Nifty Gateway, Kraken NFT, and X2Y2 have already shut down.
User action timeline: standard deadline June 17, full stop July 3
The specific deadlines and conditions in Binance’s announcement:
June 17, 2026: Completing eligible NFT withdrawals (non-CR7 assets) will earn a $1 USDC reward, limited to up to 100,000 users; users who miss this date must cover gas fees themselves
July 3, 2026: Binance centralized exchange fully stops NFT support; holders who miss the deadline will permanently lose access rights
July 19, 2026: Users holding CR7 NFTs can apply for compensation before this date
Non-transferable NFTs: Binance Academy certificates and certain event NFTs will completely become invalid after the deadline, and will be reissued in PDF format
NFT market data: decline in annual trading volume
Historical record of annual NFT trading volume: about $23.8 billion in 2022 was the peak; it dropped to about $8.9 billion in 2024; and as of 2026 so far, it is about $1.2 billion. Binance shut down its dedicated NFT trading platform as early as 2023; this time is the second step to remove NFT support from the main platform.
Other exited platforms and events
Nifty Gateway, part of Gemini, is one of the longest-running NFT trading platforms. After enabling over $300 million in trading in 2021, it closed in February 2026. Kraken NFT and X2Y2 have also shut down.
NFT Paris is one of the most important annual conferences in the industry. After hosting it for four consecutive years, it canceled the 2026 event. The organizer publicly stated the reason was market collapse and insufficient liquidity; reports say the cancellation left over €500,000 in sponsor fees non-refundable, and the core team responsible for the event reportedly had already left before the final decision was announced.
FAQ
What action do users holding Binance NFTs need to take immediately?
All transferable NFT holders must transfer their assets to a self-custody wallet by July 3, 2026, or they will permanently lose access rights. If eligible NFT withdrawals (non-CR7 assets) are completed by June 17, 2026, up to 100,000 users may receive a $1 USDC reward; the compensation deadline for CR7 NFT holders is July 19.
How will non-transferable NFTs such as Binance Academy certificates be handled?
Binance’s announcement states that non-transferable NFTs (including Academy certificates and certain event NFTs) will become completely invalid after the July 3, 2026 deadline and cannot be transferred to a self-custody wallet. Binance said it will reissue course completion certificates to relevant holders in PDF format.
How much has the overall NFT market shrunk?
Based on the data cited in the article, annual NFT trading volume fell from the 2022 peak of about $23.8 billion to about $1.2 billion as of 2026. Besides Binance, Nifty Gateway, Kraken NFT, and X2Y2 have all closed, and the NFT Paris 2026 annual conference has also been canceled.
