Binance NFT Marketplace Announces Support for Bitcoin NFT Collections
Binance, one of the leading cryptocurrency exchanges, has announced its support for Bitcoin non-fungible tokens (NFTs) amidst the turmoil in the crypto industry. The move comes as Binance doubles down on its efforts in the NFT sector. The exchange's NFT marketplace is joining other platforms, such as Magic Eden, in embracing Bitcoin NFTs.
The newly added list of Bitcoin NFT collections on Binance includes popular names like Bitcoin Bandits, Bitcoin Frogs, Bitcoin Pizzas, Bitcoin Punks, Bitcoin Wizards, Block Legends, BTC DeGods, Clay Pepes, DogePunks, and more. Binance stated that these NFTs are based on the Inscription ID list provided by the project team.
In addition to supporting Bitcoin NFTs, Binance plans to integrate more collections into its NFT marketplace in the future. The exchange recently introduced a feature that allows users to borrow crypto using their NFTs as collateral, but this was limited to select high-profile NFT projects like Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki, and Doodles.
Earlier, Binance expanded its NFT Marketplace to include certain NFT collections from Polygon, alongside NFTs on Ethereum and BNB Chain.
It's worth noting that the announcement of Binance's support for Bitcoin NFTs comes shortly after the Securities and Exchange Commission (SEC) filed 13 charges against the platform and its founder, CZ (Changpeng Zhao). The situation reflects the ongoing regulatory challenges and scrutiny faced by various players in the crypto industry.
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