Binance announced that it will close support for NFTs on its central exchange on July 3, 2026. It is expected that any existing holders will move their assets to self-custodial wallets or lose access permanently.
NFT trading volumes have collapsed from about $24 billion in 2022 to nearly $1.2 billion in 2026 so far. Other than Binance, other platforms that were trading NFTs, such as Nifty Gateway and Kraken NFT, have been shut down.
Binance is pulling the plug on NFTs
Binance shut down its dedicated NFT marketplace for the first time in 2023. Now, the exchange is going even further by removing NFT support from its main platform entirely. The company says This is an “upgrade” that moves NFT management to Binance Wallet, where users can access “Web3 and decentralized features” more easily.
But for regular users who have kept their NFT tokens on Binance to avoid dealing with seed blocks and gas fees, they have exactly one month to transfer their assets or make them inaccessible.
Non-transferable NFTs such as Binance Academy certificates and some event-based NFTs will become completely inaccessible after the deadline passes. However, Binance says it will issue PDF certificates to users holding non-transferable NFTs that confirm completion of the course.
Binance is offering 1 USDC to up to 100,000 users for completing eligible NFT withdrawals, but only for non-CR7 assets and only before June 17, 2026.
Holders of CR7 NFTs linked to Cristiano Ronaldo are entitled to payment through July 19, but anyone who misses the June 17 deadline to obtain the standard NFTs pays their own gas.
What will the NFT market look like in 2026?
annual NFT trading volume It reached approximately $23.8 billion in 2022, but in 2024 this number decreased to about $8.9 billion. Worse still, in 2026, current trading volume will be around $1.2 billion.
The NFT sector is facing a long downturn that has led to a collapse in prices, leaving the current annual NFT trading volume at around $5.5 billion.
Binance joins a growing list of platforms that have abandoned NFTs. Gemini owned Neat portalone of the oldest NFT trading platforms, shut down in February 2026 after facilitating over $300 million in sales at its peak during the digital art era of 2021. Kraken NFT and X2Y2 have also shut down.
NFT Paris, one of the prominent conferences in the sector, has canceled the 2026 edition after four consecutive years, and Cryptopolitan reported Regulators said the decision was due to the market collapse and illiquidity.
The cancellation reportedly resulted in more than €500,000 in sponsorship fees not being paid, and the core team running the event were said to have left just before the final decision.
