Binance Shuts Down Bitcoin NFT Marketplace

Binance, the renowned cryptocurrency exchange, has announced the closure of its Bitcoin NFT marketplace effective April 18 at 6:00 UTC.

This happened barely one year after the marketplace’s launch, which was a clear sign of the company’s responsibility to reduce the number of products in the market.

Users will not have the option to buy or sell NFTs on Bitcoin after 10 April. The creation of NFTs and transferring and withdrawing users´ NFTs on Bitcoin will also be terminated on the same date. NFT consumers are supposed to pull out their NFTs through the Bitcoin network off of the Binance NFT Marketplace before May 18.

The news follows Binance declaring the uncertainty of the trade of Bitcoin NFTs, which gained in the first few months after the introduction of the Ordinals protocol in May 2023. Bitcoin is one of the second most traded networks in the world for NFTs.

Binance finally clarified their runestone NFT credentials by the 4th of April to the qualified people who were qualified for the airdrop. Conversely, no trading channels for the Runestone NFTs being issued via the Binance platform will be available on the market.