Crypto exchange Binance announced integration of Bitcoin Ordinals with its NFT marketplace at the end of May.
Currently, the non-fungible token trading platform supports three networks – BNB Chain, Ethereum and Polygon.
According to the company, the Bitcoin-based solution “offers a unique and innovative opportunity for creating NFTs.”
Together with Ordinals, the exchange will also add the ability to buy tokens directly through a Binance account, eliminating the need for a separate wallet.
For authors, the platform offered a royalty program, and company representatives announced a search for “quality NFT projects” for cooperation.
The exchange has opened a pre-registration for users, which guarantees a place in the white list for the primary sale of tokens and makes it possible to receive a thematic airdrop. Applications can be submitted between May 9th and May 15th.
According to the @dgtl_assets dashboard on the Dune Analytics platform, 5,010,014 bitcoin NFTs have been issued at the time of writing. 996 BTC (~$27.6 million) was spent on their issue in the form of commissions.
The number of issued Ordinals. Data: dune.
On May 1, amid a surge in Ordinals-related activity, the daily number of transactions on the Bitcoin network reached an all-time high of 685,711.
Binance later suspended Bitcoin withdrawals twice due to network congestion. Part of the community suggested that the situation could have arisen due to the Bitcoin NFT. After the incident, the platform promised to integrate the micropayment network of the first cryptocurrency Lightning Network to speed up transactions.
Source: Cryptocurrency
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