Binance NFT Marketplace to Discontinue Support for Bitcoin NFTs

Binance’s NFT marketplace will stop all support for Bitcoin NFTs starting April 18. Users are advised to transfer their Bitcoin NFTs out of the platform by May 18 using the Bitcoin network. Any orders for affected listings will be automatically canceled after April 10.

Additionally, support for airdrops, perks, or features related to Bitcoin NFTs will be suspended after April 10. The exchange has also informed users about the Runestone NFTs airdrop, stating that eligible users have already received NFTs in their accounts. However, they must withdraw these NFTs by the following Wednesday to access associated tokens, utilities, or benefits.

The decision to discontinue support for Bitcoin NFTs was made to streamline the exchange’s offerings. Market data indicates a significant decrease in unique buyers and overall trading volume, despite a brief uptick in the fourth quarter of 2023. Criticism of Bitcoin NFTs causing network congestion has also played a role in Binance’s decision.

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