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Editing by Nathaniel Cajuday
- Binance will support Ordinals inscriptions on its NFT marketplace in the coming weeks, offering more opportunities for NFT collectors and traders.
- The integration of Ordinals aims to boost the adoption of NFTs in the crypto space and provide a seamless and efficient Bitcoin NFT experience for Binance users, eliminating the need for a separate wallet.
- Binance is calling for Bitcoin NFT project creators to collaborate and generate additional revenue opportunities through royalty support when their digital assets are bought and sold on the platform.
Although Bitcoin Ordinals sparked mixed reactions and views within the community, the leading cryptocurrency’s own version of non-fungible tokens (NFTs) is steadily gaining popularity. This time, global cryptocurrency platform Binance unveiled that it will support Ordinals inscriptions on its NFT marketplace “in the coming weeks.”
Ordinals on Binance
According to Binance, the integration of Ordinals came as the demand for Bitcoin NFTs has been increasing, with many artists and creators interested in minting NFTs using Bitcoin.
“This groundbreaking move will broaden the Binance NFT ecosystem by incorporating Bitcoin’s unique culture and innovative tech, while offering NFT collectors and traders even more opportunities. Get ready to embrace the new possibilities Bitcoin and its creative community now offer the world of NFTs,” the exchange noted.
Moreover, the firm expressed that the move is expected to provide a boost to the adoption of NFTs in the crypto space.
With the addition of support for Ordinals, Binance users are expected to have a seamless and efficient Bitcoin NFT experience without the need for a separate wallet.
The firm also noted that its platform’s exceptional security and stability are also set to protect users:
“By removing barriers to entry and providing a user-friendly platform, Binance NFT is positioning itself as the go-to destination for trading Bitcoin NFTs.”
Call for Creators
In line with this innovation, Binance said that it will welcome Bitcoin NFT project creators for a collaboration to further support the growth and development of the Bitcoin Ordinals ecosystem.
The creators are offered royalty support for Bitcoin NFT creators when their digital assets are bought and sold on the platform to generate additional revenue opportunities.
Interested creators may register here.
What is Ordinals?
Dubbed as “digital artifacts,” it basically allows the Bitcoin version of NFTs. The protocol employs “inscriptions,” which are arbitrary pieces of content, such as text or images, to generate sequentially numbered satoshis, or “sats,” the smallest units of Bitcoin. This process produces unique digital artifacts that can be owned and transferred via the Bitcoin network.
This article is published on BitPinas: Binance to Add Bitcoin Ordinals on NFT Marketplace
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.