Binance NFT, a trading marketplace for non-fungible tokens, said it will soon list NFTs based on the Bitcoin blockchain.
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In a press release on Monday, Binance is seeking collaboration with quality NFT projects to list them as part of the launch. Although no timeframe was provided, Binance suggested customers to complete a survey — which will last until May 15 — to receive NFT airdrops for an upcoming Bitcoin NFT project.
Binance also offered royalty support for Bitcoin NFT creators, which would allow them to generate additional revenue opportunities. As of press time, Binance NFT supports only three networks: BNB Chain (formerly Binance Smart Chain), Ethereum and its sidechain Polygon.
Earlier in March, crypto venture firm Galaxy Digital released a research report, forecasting the market size of Bitcoin-based NFTs to hit $4.5 billion by 2025 even in "base case." The firm's analysts acknowledged that Bitcoin-based digital collectibles are currently limited from the technical point of view compared to those rolled out on the Ethereum blockchain.
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