Binance Reveals Plans to List Bitcoin Ordinals on NFT Marketplace
Binance has aggressively developed its NFT marketplace in a number of ways to become a top platform for buying, selling and trading NFTs.
Binance, the world’s largest crypto exchange, has expressed interest in adding Bitcoin Ordinals to its Non-Fungible Token (NFT) marketplace by the end of May. According to the announcement, Binance will also offer royalty support and additional monetization opportunities for Bitcoin NFT creators.
Bitcoin Ordinals are becoming popular and unique in the NFT ecosystem, thus fueling the push by Binance to add it to its marketplace. This listing is important to attract more customers and offer more diversified NFT options.
While commenting on the update, Binance Chief Product Officer Mayur Kamat highlighted that the firm is excited to bring Bitcoin Ordinals to Binance NFT. In addition, he added that “Bitcoin is the OG of crypto”.
Meanwhile, the BNB chain, Ethereum and Polygon are already integrated into the Binance exchange NFT. Thus allowing users to buy, deposit, withdraw and list NFTs from the Polygon network on the Binance NFT Marketplace. In addition, users can trade digital collectibles on the Binance NFT Marketplace by holding MATIC or any token in the spot wallet.
Bitcoin ordinals, also known as Bitcoin NFTs or digital artifacts, provide a new method of storing digital content on the Bitcoin blockchain. Each NFT in the Bitcoin Ordinals series is hand-painted with a unique representation of the relevant Bitcoin block hash. As with other NFTs, the value of Bitcoin Ordinals is determined by supply and demand.
In particular, the artwork is designed to represent the historical and technological significance of the Bitcoin blockchain, as well as the proof of work mechanism that secures it. The series is highly sought after by collectors and cryptocurrency enthusiasts due to its unique concept and limited availability.
Binance is actively expanding its NFT marketplace
Binance has aggressively developed its NFT marketplace in a number of ways to become a top platform for buying, selling and trading NFTs.
In particular, Binance has partnered with various artists and creators to offer exclusive and unique NFTs on its marketplace. For example, Binance has partnered with Lewis Capaldi, a 2-time BRIT award winner, and soccer stars Michael Owen and Alphonso Davies to offer limited edition NFTs.
In addition, the exchange had announced that the NFT Marketplace had plans to bring 100 creators to the NFT platform. Binance NFT seeks to capture a wide range of users by appealing to a wide range of voices from many fields.
Furthermore, Binance has been working to improve the user experience of its NFT marketplace, making it easier for users to browse, buy and manage their NFTs. For example, the firm has implemented a feature that allows users to view the entire history of an NFT, including previous owners and transaction history. Ultimately, Binance hopes to attract a wider range of users to its platform by offering a diverse selection of NFTs.
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