Binance NFT marketplace will soon expand its ecosystem by adding support for Bitcoin Ordinals, commonly known as Bitcoin NFTs.
This addition will expand the options available to NFT collectors and traders, beyond the currently supported blockchains — BNB Chain, Ethereum, and Polygon.
Furthermore, the support for Bitcoin NFTs will enable Binance users to purchase and trade them directly from their Bitcoin account, without the need for a separate Ordinals wallet.
Similar to NFT creators on other blockchains, those creating Bitcoin NFTs can earn royalties for their digital assets when they are bought and sold on the platform.
Moreover, Binance NFT is actively pursuing collaborations with high-quality NFT projects to promote the growth and development of the Bitcoin Ordinals ecosystem. This will create additional opportunities for creators and contribute to the support of the community.
Bitcoin Ordinals, a means of creating Bitcoin NFTs by attaching data to individual satoshis on the Bitcoin blockchain, was launched in January 2023. Within three months, more than one million inscriptions were made, supported by various initiatives.
In February, Yuga Labs released a 300-piece NFT collection called “TwelveFold,” minted on the Bitcoin-based Ordinals protocol, which generated over $16 million in bids, with the highest bid being nearly $160,000.
In March, Magic Eden announced the launch of the first completely audited Bitcoin marketplace for digital artifacts in the Bitcoin Ordinals ecosystem.
