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NFT marketplace Binance will soon support Bitcoin ordinals (Bitcoin NFTs), which will expand the platform's ecosystem.
Bitcoin ordinals are a result of updates to Taproot and SegWit and are used to create unique immutable collections on the Bitcoin blockchain.
Binance NFT is actively seeking collaborations with NFT projects in the Bitcoin ordinal space to strengthen the community and ecosystem.
Users can register (from May 9 to May 15) and gain access to a range of exclusive benefits.
The Binance NFT marketplace will soon support Bitcoin ordinals. This will provide more options for collectors and creators, as well as expand the platform's multi-chain ecosystem.
NFT marketplace Binance will soon support Bitcoin ordinals (Bitcoin NFTs).
This will allow Binance NFT to expand its ecosystem with Bitcoin's unique culture and innovative technology, and offer even more options to NFT collectors and traders. Now the NFT world will benefit from Bitcoin and its creative community.
What are Bitcoin ordinals?
The Ordinals protocol was launched in January 2023 to create Bitcoin NFTs by attaching data to individual satoshis, the smallest indivisible portion of a Bitcoin, on the Bitcoin blockchain. Each Bitcoin consists of 100,000,000 Satoshi.
The Ordinals protocol allows each individual Satoshi to be identified and sent along with additional data: text, image, video or other content. During this process, an ordinal “inscription” is added. A Satoshi with an inscription is called an ordinal.
Support for Bitcoin NFTs was made possible by updates to the Bitcoin protocol called Taproot (November 2021) and SegWit (August 2017). Ordinal labels do not require a sidechain or a separate token. They allow the creation of true immutable collections on the Bitcoin blockchain.
Within the first three months of the Ordinals protocol's launch, users generated over a million captions. Thus, Ordinals gave users a Bitcoin NFT - another option for using the Bitcoin network beyond simply transferring funds or being a store of value.
What is the Binance NFT Marketplace
The Binance NFT Marketplace is a one-stop platform for NFT lovers and collectors. It is supported by Binance's robust infrastructure and active community. Binance's NFT marketplace brings together artists, content creators, and innovators from around the world, and helps users easily create, trade, and stake NFTs. Our new NFT-Fi feature offers NFT staking and lending, unlocking the full financial potential and value of digital assets.
The Binance NFT marketplace has several directions:
Marketplace. Create, sell, buy and participate in NFT auctions by creators from all over the world.
Initial NFT Offering (INO). Buy exclusive NFTs from the world's leading artists and influential brands. Users get access to offerings from digital artists, musicians, athletes and celebrities.
NFT-Fi. Staking and loans with NFTs as collateral (NFT-Fi loans coming to the platform soon).
Why add Bitcoin ordinals
Currently, the Binance NFT marketplace only supports three networks: BNB Chain, Ethereum and Polygon. But soon the platform will add Bitcoin ordinals.
The innovative technology and cultural significance of Bitcoin open up new horizons and unique opportunities for creating NFTs.
The integration of the Bitcoin network underlines that Binance NFT is an open market ecosystem with support for various blockchains. On our marketplace, users can find, sell and buy a wide range of NFTs from different networks.
More benefits for users
Binance NFT is evolving with the cryptocurrency space and is committed to empowering NFT users and creators.
With support for ordinals, Binance users will have access to new features:
Easily buy and trade Bitcoin NFTs directly from your Binance account without having to create a separate ordinal wallet.
Binance NFT integration for convenient and efficient trading.
Exceptional security and stability of Binance.
Binance NFT removes barriers to entry and provides a convenient platform for Bitcoin NFT trading.
Cooperation with Bitcoin NFT projects
Binance NFT will support royalties for NFT creators. They will be able to earn additional income from buying and selling their digital assets on the platform. This will create a sustainable and thriving ecosystem for artists and other content creators.
The Binance NFT team is committed to further developing the Bitcoin ordinal community and is interested in collaborating with innovative NFT projects. By joining forces, we can support the growth and development of the ordinal ecosystem by providing more opportunities for content creators.
If you are working on an NFT project in the Bitcoin ordinals space and are interested in collaborating with Binance NFT, please contact us by filling out this form.
Binance NFT is committed to creating an active and diverse community, and your project could be the next step in achieving this goal. Be a part of this transformation with Binance NFT.
Register for exclusive benefits
Binance NFT invites users to register and unlock a range of exclusive opportunities.
Please provide feedback and register via our survey form from Binance between 00:00 UTC May 9, 2023 and 23:59 UTC May 15, 2023 to take advantage of unique benefits including:
News Access: Join the Binance NFT Discord channel and stay up to date with news about the Bitcoin NFT ecosystem.
Whitelisting and Airdrops: Secure your spot on the whitelisting and be at the forefront of receiving NFT airdrops when the initial Bitcoin NFT sale goes live on Binance NFT!
Don't miss the opportunity to dive into the exciting world of Bitcoin ordinals on Binance NFT. Sign up and discover many benefits for collecting and trading NFTs.
Additional Information
(Blog) 10 Reasons to Trade NFTs on Binance NFT
(Academy) What is NFT
(Academy) What are ordinals from Ordinals
Risk warning. The information in this article should not be considered financial or investment advice. Do your own research. NFTs are not regulated in most countries, but you should personally ensure that you are allowed to use the Binance NFT Marketplace based on your own circumstances. For more information, please review the Binance NFT Marketplace Terms and Conditions, Binance Terms of Use, and Risk Disclosure.