Binance NFT Marketplace has recently announced that it will allow users to purchase and trade Bitcoin NFTs on its platform, utilizing already-existing wallets. Bitcoin ordinals, also known as Bitcoin NFTs, are gaining popularity in the Web3 space as more marketplaces adopt and offer digital assets. Binance NFT Marketplace’s integration with Bitcoin ordinals is set to take place in late May, expanding its multi-chain NFT ecosystem to include the Bitcoin network.
Previously, Binance NFT Marketplace integrated with other decentralized networks, including BNB Chain, Ethereum, and Polygon. This update will enable Binance users to buy and trade Bitcoin ordinals from their existing Binance accounts. The update will also include royalty support and “additional revenue generating opportunities” for Bitcoin ordinal creators.
Apart from Binance NFT Marketplace, Bitcoin NFTs are available on other platforms such as Magic Eden, which integrated the feature back in March. According to recent data, Bitcoin ordinal inscriptions have been on the rise in recent months. On May 1, the total number of Bitcoin ordinal inscriptions skyrocketed to exceed 3 million, indicating its growing popularity. However, Bitcoin maximalists criticize them for deviating from Bitcoin’s original peer-to-peer ethos, which is still a controversial topic within the crypto community.