Binance NFT Marketplace Ends Support for Bitcoin Ordinals

A Decision to Streamline Product Offerings

Bitcoin Ordinals, a protocol allowing for unique identification and data embedding for individual satoshis on the Bitcoin blockchain, gained traction in late 2022.

In May 2023, Binance introduced Bitcoin NFT support, to expand its ecosystem to the Bitcoin network. Despite initial popularity and endorsements from figures like Cristiano Ronaldo, the marketplace has faced challenges in gaining widespread adoption. This led to Binance discontinuing its support for Bitcoin Ordinals and streamline its product offerings within the marketplace.

According to Binance, this decision aims to enhance user experience and drive long-term growth by focusing on a smaller set of products.

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