The cryptocurrency exchange Binance announced today, May 9 that it will add support for Bitcoin Ordinals on the firm’s NFT Marketplace.
According to the press release, this will happen at the end of this month.
Recall, the Ordinals protocol was launched in January of this year. It allows users to inject NFT into bitcoin transactions via Taproot softfork. Since then, Ordinals has steadily grown in popularity.
Grayscale believes that integrating this solution will spur the development of the industry.
But at this stage, the popularization of Ordinals and BRC-20 has only brought delays and increased commissions.
Binance, however, seems to consider this direction promising. The integration of Ordinals into the Binance NFT platform will allow users to buy and sell tokens using existing accounts on the exchange.
In addition, digital artists who create Ordinals will have “additional” ways to monetize content.
Token buyers will also be charged a royalty. Previously, Magic Eden and OKX announced the integration of Ordinals.
“We want to offer our users the widest selection of investment products. Bitcoin is the OG of crypto. We are pleased to announce the integration of Bitcoin Ordinals on Binance NFT.
We believe this is just the beginning, and there’s more to come in the future,” Binance product head Mayur Kamat.