Binance, one of the leading cryptocurrency exchanges, has doubled down on its efforts in the NFT space by announcing support for Bitcoin NFTs on Tuesday amidst the significant turmoil in the cryptocurrency industry.
The exchange’s NFT marketplace is the latest contender to support Bitcoin NFTs, following a similar move by Magic Eden.
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, and more. Binance mentioned that these referenced NFTs are based on the Inscription ID list provided by the project team.
Now, users can buy, deposit, withdraw, and list specific NFT collections from the Bitcoin blockchain on Binance NFT.
In the future, Binance plans to integrate more collections into its NFT marketplace. The cryptocurrency giant recently introduced a new feature that allows users to borrow cryptocurrencies using their NFTs as collateral. These borrowing options are currently available for select popular NFT projects such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, Doodles, and more.
Binance has also ventured into the vibrant Bitcoin-based market after announcing support for Ordinals Inscription on its NFT marketplace last month.
In the first quarter of this year, Binance NFT Marketplace expanded its list of supported networks by adding certain NFT collections from Polygon to its platform, in addition to NFTs on the Ethereum and BNB chains.