Binance, the world’s largest cryptocurrency exchange by trading volume, has announced its support for Bitcoin-based NFTs through a blog post on their official website. With this move, Binance users will now be able to buy or create their own collections of certain Bitcoin-based NFTs listed on Binance.
NFTs gained tremendous popularity in 2021, leading to the development and release of numerous NFT collections during this period. Following the emergence of NFTs as a new craze in 2021, numerous renowned artists worldwide began developing their collections, and many institutional investors started investing in this field. Despite significant drops in NFT transaction volumes with the downturn of the cryptocurrency market in 2022, the NFT market has recently begun to pick up once more.
In this context, Binance, currently the world’s largest cryptocurrency exchange by trading volume, has made a new move. Binance announced that it would support Bitcoin-based NFTs and list them on Binance.
In a significant announcement made through a blog post on its official website, Binance announced that it would support Bitcoin blockchain-based NFTs. Binance stated that users could now buy and sell Bitcoin-based NFTs listed on Binance, list NFTs on the platform, and create their collection. Binance shared the details of the listing in the blog post, providing information to users:
Users will now be able to buy, deposit, withdraw, and list NFTs from the Bitcoin network directly from a Binance account on the Binance NFT Marketplace. Users won’t need a separate BTC wallet. By having Bitcoin or any token in their spot wallets, users will be able to trade NFTs on the Binance NFT Marketplace.