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Binance Unites with Vertu with NFT Smartphone Launch

Steve Miley trader
Updated 21 Jun 2022

Trade Cryptos Here Your Capital Is At Risk

Key points:

  • Binance Offers NFTs To Buy Vertu Smartphone
  • Vertu Constellation X Ulm Tech Laden Smartphone
  • Binance Suspends Tron Deposits and Withdrawals (Temporarily)

Cryptocurrency exchange Binance in collaboration with the Vertu luxury brand, is offering an NFT to buy a limited-edition smartphone.

Binance Offers NFTs To Buy Vertu Smartphone

Binance, the cryptocurrency exchange, has ventured further into the world of Non-Fungible Tokens (NFTs) by teaming up with Vertu Paris. To celebrate the high-end brand’s 22nd anniversary, Vertu Paris has revealed their new VERTU Constellation X Ulm smartphone, which will only be available through a limited sales procedure.

Vertu Paris will release only 10,555 smartphones which will be available for sale only via the purchase of an NFT, that can be purchased via Binance.

The price of the new phone, the Constellation X Ulm, will be $15,000, with 1,000 NFTs available on the Binance’s NFT platform, with the online price of $5,175. Once purchased, the NFT buyer has two choices up until 23rd September.

1. The owner can convert the NFT to a real Vertu Constellation X Ulm, to be received by February 2023 latest.
2. The NFT purchaser can hold onto the NFT, which allows them to become a member of the newly launched Vertu 3.0 business club.

Also Read: How Much Energy Does Bitcoin Use?

Vertu Constellation X Ulm Tech Laden Smartphone

The Vertu Constellation X Ulm is certainly expensive but is also a tech-heavy, high-end smartphone with all the cache of an ultra-high-end brand. It is obviously a 5G phone, has a 120Hz screen that is 6.71-inch. Encryption using cutting-edge technology from Communitake’s means that all data, location, and voice calls are secure.

This writer likes the idea, but will not be in the queue to purchase said Non-Fungible Token and convert to a Vertu Constellation X Ulm!

Binance Suspends Tron Deposits and Withdrawals (Temporarily)

In separate news, Binance has announced in a recent blog post that starting 23rd June, it aims to carry out maintenance to the Tron wallet. The world's biggest crypto trading venue Tweeted that, “Deposits and withdrawals will be temporarily suspended and will reopen once the maintenance is complete.”

Although just routine maintenance, this comes on the back of Binance recently suspending all Bitcoin withdrawals, as we noted in our article Crypto Crash Extends As Binance And Celsius “Pause” Withdrawals. Although certainly nothing to worry about, in the current climate of volatility, flash crashes for the cryptocurrency, alongside wider fears across financial markets, even the faintest concerns can become magnified.

Steve has 29 years of financial market experience including 3 years at Credit Suisse and 15 years at Merril Lynch. Steve is the Academic Dean for The London School of Wealth Management and has won many awards from Technical Analyst Magazine.