Binance to cease support for all Bitcoin NFTs
Binance has announced that it will cease support for Bitcoin NFTs on its NFT Marketplace, with the cutoff date set for April 18. Users are advised to withdraw all their Bitcoin NFT assets via the BTC network before May 18 to avoid any complications.
The decision to end support for Bitcoin NFTs comes amid a surge in popularity for Ordinals, or NFTs on the Bitcoin blockchain. While this sector has experienced growth, Binance has opted to streamline its product offerings, leading to the discontinuation of support for Bitcoin NFTs on its platform.
As part of this process, Binance will cancel all listing orders related to Bitcoin NFTs on April 18. Additionally, support for Bitcoin NFT airdrops and related activities will end after April 10.
Furthermore, holders of Runestone NFTs are urged to withdraw their assets by April 10 to ensure they can still receive associated tokens, utilities, and benefits.
The decision by Binance to discontinue support for Bitcoin NFTs underscores the evolving landscape of the NFT market and the need for platforms to adapt to changing trends. This move may prompt newly launched projects to reconsider their options, particularly those that had planned to utilize the Binance NFT Marketplace for their Bitcoin-based NFTs.
While the decision may impact certain users and projects, it reflects Binance's commitment to refining its offerings and focusing on areas of strategic importance within the NFT space.
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