Binance NFT to Add Support for Bitcoin-based Digital Collectibles
Main page News, Bitcoin, Cryptocurrency Exchanges, Binance, NFT
Hot topic
May 9, 2023

Binance NFT, a trading marketplace for non-fungible tokens, said it will soon list NFTs based on the Bitcoin blockchain.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

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.

Magic Eden Adds Support for Bitcoin NFTs

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.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error