Binance, a popular cryptocurrencycurrency exchange, has closed its Bitcoin NFT marketplace on April 18 at 6:00 UTC. This occurred less than a year after the marketplace’s introduction, demonstrating the company’s obligation to limit the amount of products in the market.
Users will be unable to buy or sell NFTs on Bitcoin after April 10. The creation of NFTs, as well as the transfer and withdrawal of users’ NFTs via Bitcoin, will be discontinued on the same date. NFT holders are expected to withdraw their NFTs from the Binance NFT Marketplace via the Bitcoin network on May 18.
The announcement comes after Binance declared the uncertainty of Bitcoin NFT trading, which increased in the first few months after the Ordinals protocol was introduced in May 2023. Bitcoin is one of the world’s second most actively traded NFT networks.
Binance finally clarified its runestone NFT credentials to qualifying airdrop participants on April 4th. In contrast, no trading channels for the Runestone NFTs issued on the Binance platform will be available on the market.
