Binance NFT Officially Integrates Over a Dozen Bitcoin Ordinals Collections – CryptoMode
The cryptocurrency world has recently witnessed a radical new phenomenon – Bitcoin Non-Fungible Tokens (NFT). With an impressive spread rate, these Bitcoin NFTs have undoubtedly carved a significant niche in the crypto market.
Binance strengthens its NFT ambitions amid market turbulence
Determined to pioneer this new frontier, Binance, a leading crypto exchange, has intensified its focus on the non-fungible token (NFT) sector. It came to light with the exchange’s announcement on Tuesday supportive Bitcoin NFTs, despite the ongoing tumultuous events unfolding in the crypto landscape.
Binance’s NFT marketplace has emerged as the latest player to join the exciting world of Bitcoin NFTs, following Magic Eden’s decision to offer support.
With the latest updates, the newly added repertoire consists of an eclectic mix of Bitcoin-themed NFTs. Bitcoin Bandits, Bitcoin Frogs, Bitcoin Pizzas, Bitcoin Punks, Bitcoin Wizards, Block Legends, BTC DeGods, Clay Pepes, DogePunks and more make up the exciting roster. The NFTs under discussion derive their unique identity from the Inscription ID list provided by the project team, as claimed by Binance.
Highlighting support for the Bitcoin blockchain, Binance’s announcement said: “You can now buy, deposit, withdraw and list specific NFT collections from the Bitcoin blockchain on Binance NFT.”
Future Outlook: Binance’s Vision for the NFT Marketplace
Binance’s ambitions for the NFT sector extend well beyond the present, with plans to incorporate even more collections into the NFT marketplace. In particular, Binance introduced a groundbreaking feature that allows users to obtain cryptoloans using their NFTs as collateral.
This inventive offering was extended to some select high-profile NFT projects such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki and Doodles, among others. Furthermore, Binance has begun to explore the vibrant Bitcoin-based market, as evidenced by the recent support of Ordinals inscriptions on the NFT marketplace.
Binance NFT Marketplace’s increased network support
Binance NFT Marketplace expanded its supported networks in the first quarter of this year. It incorporated specific NFT collections from Polygon into its platform, along with its existing support for Ethereum and BNB Chain NFTs.
This recent expansion follows closely on the heels of the Securities and Exchange Commission (SEC) bringing 13 charges against the platform and its founder, CZ.
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