Binance adds support for Bitcoin NFTs

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The non-fungible token (NFT) market of Binances, the leading cryptocurrency exchange, on Tuesday announced plans to add support for Bitcoin ordinals or NFTs later in May, although an exact date is n was not announced.

Binance NFT, which already supports NFTs on Ethereum, Polygon and its native BNB chain, plans to expand its offerings by allowing traders to buy ordinals on the Bitcoin network. Collectors will soon be able to buy and sell listings, or NFTs created on the Bitcoin network, expanding the reach of the nascent ordinal ecosystem.

Additionally, to help users integrate Bitcoin NFTs, Binance will allow traders to purchase Bitcoin-based NFTs with their Binance accounts, simplifying the process for users. Instead of having to set up a taproot-enabled Bitcoin wallet to buy ordinals, like collectors wanting to mint NFT giant Yuga Labs TwelveFold Ordinals had to, Binance aims to make the process simple and secure so that new buyers are entering the growing market.

Binance Product Manager Mayur Kamat said in a press release that he sees Bitcoin as the widest choice for NFT collectors as well as a growing market for the exchange to tap into.

Bitcoin is the OG of crypto, Kamat said. We think things are just getting started here and we can’t wait to see what the future holds in this space.

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