Bitcoin ordinals, also known as Bitcoin NFTs, have gained popularity in the Web3 space, as more marketplaces incorporate and offer these digital assets.
Binance, a cryptocurrency exchange, announced on May 9 that it will support Bitcoin ordinals on its NFT marketplace by the end of May. This development will allow Binance’s multichain NFT ecosystem to encompass the Bitcoin network, in addition to BNB Chain, Ethereum, and Polygon.
Mayur Kamat, the head of product at Binance, commented on the expansion of offerings and Bitcoin’s crypto legacy:
“Bitcoin is the OG of crypto.”
This update enables Binance users to buy and sell Bitcoin ordinals through their existing Binance accounts. The update also includes royalty support and “additional revenue generating opportunities” for those who create Bitcoin ordinals.
Related: Bitcoin metrics to the moon: ATH for hash rate, daily transactions and Ordinals
In late April, prior to Binance’s announcement, another cryptocurrency exchange, OKX, announced that it would include Bitcoin ordinals in its marketplace and wallet ecosystem. Initially, OKX users could store and view their Bitcoin ordinals, and the option to create ordinals may be added later, according to OKX’s chief marketing officer, Haider Rafique.
Bitcoin NFTs are also available at Magic Eden, which integrated the feature in March.
Recently, the inscription of Bitcoin ordinals has been on the rise. As of May 1, there were over 3 million Bitcoin ordinal inscriptions, up 83.5% from April 2.
Nonetheless, this remains a controversial issue in the crypto community, with Bitcoin maximalists criticizing Bitcoin ordinals for deviating from Bitcoin’s original peer-to-peer ethos.
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