As more marketplaces continue to adopt and offer digital assets, Bitcoin ordinals, often referred to as Bitcoin NFTs, have gained prominence in the Web3 sector. According to a recent announcement from the Binance NFT marketplace, users will soon be able to utilize their current wallets to trade and buy Bitcoin NFTs on the site.
Binance Will Support Bitcoin Ordinal
The ordinals will be supported on the NFT marketplace in late May, according to a May 9 announcement from the cryptocurrency exchange. With this breakthrough, the Bitcoin network will be included in Binance‘s multichain NFT ecosystem.
In the past, the Binance NFT market connected to decentralized networks, such as BNB Chain, Ethereum, and Polygon. Head of product at Binance, Mayur Kamat, offered his thoughts on expanding market offers and the legacy of Bitcoin in the crypto space:
Bitcoin is the OG of crypto.
Kamat
What will the Update Provide?
Users of Binance can now buy and sell the ordinals from their active Binance accounts with the upgrade. The update will reportedly also feature royalties support and additional revenue-generating opportunities for individuals who develop the ordinals, according to the announcement.
The Rise of Bitcoin Ordinal
The cryptocurrency exchange OKX stated in late April that it was integrating Bitcoin ordinals into its marketplace and wallet ecosystem before Binance did. According to Haider Rafique, the chief marketing officer at OKX, users may initially browse and store ordinals using their accounts, with the opportunity to mint ordinals being hinted at in the future.
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