Binance NFT Marketplace Announces Support for Bitcoin NFT Collections

Binance doubled down its efforts on the non-fungible token sector as it announced support for Bitcoin NFTs on Tuesday amidst severe turmoil in the crypto industry.

The exchange’s NFT marketplace is the latest contender to step into the Bitcoin NFTs ring following Magic Eden’s support for the same.

• According to the latest update, the newly added list includes Bitcoin Bandits, Bitcoin Frogs, Bitcoin Pizzas, Bitcoin Punks, Bitcoin Wizards, Block Legends, BTC DeGods, Clay Pepes, DogePunks, etc.
• Binance said the NFTs in question are based on the Inscription ID list provided by the project team.

“You can now buy, deposit, withdraw, and list specific NFT collections from the Bitcoin blockchain on Binance NFT.”

• Going forward, Binance plans to integrate more collections into its NFT marketplace.
• The crypto giant recently launched a new feature that enabled users to borrow crypto while using their NFTs as collateral.
• The loans were made available for select high-profile NFT projects only, such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles, to name a few.
• The crypto heavyweight also dipped its toes into the buzzy Bitcoin-based market after announcing support for Ordinals inscriptions on its NFT marketplace last month.
• Binance NFT Marketplace expanded its roster of supported networks in the first quarter of this year when it added certain NFT collections from Polygon to the platform, alongside NFTs on Ethereum and BNB Chain.
• The latest development comes a day after the Securities and Exchange Commission (SEC) filed 13 charges against the platform and its founder CZ.