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NFT Market NFT REVIEW NEWS Binance NFT Jumps on Bitcoin Ordinals Bandwagon

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As the popularity of Bitcoin NFTs continues to surge, more and more platforms are beginning to offer support for the technology. The latest, will see the Binance NFT ecosystem launch its own Bitcoin NFT trading hub later in May.

Through the new initiative, Binance will open up its platform so that members can easily and swiftly buy and sell Ordinals, as well as other NFTs on the Bitcoin Network. Effectively, simplifying the whole process by allowing users to transact via their Binance accounts rather than requiring a specialized wallet.

The move will up the number of networks offered by the Binance NFT marketplace to 4, with Bitcoin joining industry stalwarts, Ethereum, Polygon and BNB. As a result, seeing the world leading crypto exchange position itself for the next bullish period in NFTs.

Bitcoin NFTs Continue to Make their Mark

Binance’ pivot into the world of Bitcoin NFTs follows similar moves by fellow crypto heavyweights OKX and Magic Eden. Both of which, have targeted the tokens as having the potential to disrupt the industry. Essentially, providing the means to create and distribute non-fungible tokens on the world’s biggest blockchain network.

Bitcoin Ordinals have proved a major talking point in 2023, providing the blockchain community with hope and despair in equal measure. Some believe the tech to be a natural progression of the Bitcoin network and will provide utility beyond its store of value. However, others believe it will taint the purity of Bitcoin, and disrupt the status quo with surging transaction costs.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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