Binance NFT Marketplace Ends Support for Bitcoin Ordinals

The Binance NFT marketplace has precocious announced the discontinuation of enactment for Bitcoin Ordinals.

Beginning April 18, users won’t beryllium capable to execute transactions specified arsenic purchases, deposits, bids, oregon listings involving Bitcoin Ordinals. Additionally, immoderate existing listing orders for Bitcoin Ordinal NFTs volition beryllium automatically beryllium canceled astatine 06:00 (UTC) connected April 18.

The announcement specifically made notation of the Bitcoin-based Runestone NFTs,  noting that users eligible for the caller Runestone airdrop to retreat their NFTs by April 10 to unafraid immoderate related tokens, utilities, and benefits arsenic trading of these assets volition not beryllium supported during the withdrawal period.

Source: Ord.io

A Decision to Streamline Product Offerings

Bitcoin Ordinals, a protocol allowing for unsocial recognition and information embedding for idiosyncratic satoshis connected the Bitcoin blockchain, gained traction successful precocious 2022.

In May 2023, Binance introduced Bitcoin NFT support, to grow its ecosystem to the Bitcoin network. Despite archetypal popularity and endorsements from figures similar Cristiano Ronaldo, the marketplace has faced challenges successful gaining wide adoption. This led to Binance discontinuing its enactment for Bitcoin Ordinals and streamline its merchandise offerings wrong the marketplace.

According to Binance, this determination aims to heighten idiosyncratic acquisition and thrust semipermanent maturation by focusing connected a smaller acceptable of products.

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