Binance to add Bitcoin Ordinal NFTs to Binance NFT Marketplace
Two years ago, Binance unveiled its NFT marketplace where users can create, buy and sell digital collector’s items. At the time, Binance said its crypto exchange platform would operate two markets: a premium venue for top auctions and exhibitions and a standard trading market that anyone can use to mint new tokens.
Since its launch in April 2021, many projects have joined the Binance NFT marketplace including ChainGuardians, which announced its Cryptoverse LAND sale on the Binance NFT launchpad in March 2022. Now Binance NFT is the leading global cryptocurrency exchange and non-fungible token (NFT) platform.
Fast forward two years later, Binance NFT announced today that it will support Bitcoin Ordinals (Bitcoin NFTs) from late May 2023, opening up even more opportunities for NFT collectors and creators, and further expanding Binance NFT’s multi-chain ecosystem.
Binance’s NFT Marketplace has already announced integrations with a range of networks including BNB Chain, Ethereum, and Polygon — and will be adding Bitcoin in the coming weeks.
Bitcoin Ordinals, which launched in January 2023, is a way of creating Bitcoin NFTs by attaching data to individual satoshis. Satoshis are the smallest denomination of Bitcoin and the Ordinals protocol allows for each individual satoshi to be identified and transacted with extra data attached through a process called inscription.
This additional data can include text, images, videos, or other content. By embracing Bitcoin Ordinals, Binance’s NFT Marketplace is expanding the scope of its ecosystem to even more people while embracing the latest innovation and creativity in NFTs.
In addition to Bitcoin Ordinals being added to the Binance NFT marketplace, the update means that Binance users will also be able to purchase and trade Bitcoin NFTs directly with their Binance accounts, eliminating the need for a separate Bitcoin wallet that supports inscriptions. This integration offers even more seamless and efficient trading for Binance users, with the protection of Binance’s exceptional security.
Mayur Kamat, Head of Product at Binance, said “We want to bring the broadest choice to our users. Bitcoin is the OG of crypto. We are super excited to bring Bitcoin Ordinals to Binance NFT. We believe things are just getting started here and can’t wait to see what the future holds in this space.”
As part of the update, Binance will offer royalty support and additional revenue-generating opportunities for Bitcoin NFT creators. For Bitcoin Ordinal creators working that are interested in exploring a collaboration with Binance NFT, contact firstname.lastname@example.org or by filling out this form.
Binance is inviting users to participate in a special registration event, offering an array of exclusive benefits using this Binance Survey form*. By submitting feedback and registering using the form, users will also be able to stay informed on the latest updates including airdrop and whitelist opportunities. You can read more Bitcoin Ordinals coming to the Binance NFT marketplace here.
Binance NFT, the official NFT marketplace of Binance, is an all-encompassing platform for NFT enthusiasts and collectors. It brings together artists, creators, and innovators from around the globe, and helps users mint, trade, and stake NFTs with ease. Binance NFT features a wide variety of valuable collectibles easily accessible to Binance’s user base of over 90 million users. Our innovative NFT-Fi feature offers NFT staking and loans (upcoming), unlocking the full financial potential and value of your digital assets like never before.