Binance will no longer offer support for NFTs based on Bitcoin on April 18. Before May 18, 2024, users must remove their Bitcoin NFTs, as this will result in the inability to make deposits, purchases, bids, or listings via the Bitcoin network. Additionally, as of April 10, there will be no more airdrops, bonuses, or utilities associated with these NFTs.
Although Binance does not say if this is because of trading volumes or user demand, it is consistent with its objective to simplify its services. Ever since its inception, the industry has encountered difficulties in acquiring momentum and overcoming regulatory obstacles, particularly in the US.
However, Bitcoin's NFT sector is still thriving, because of the development of Ordinals and new token standards like BRC-20. Regardless of Binance's new focus, this robust ecosystem highlights the changing nature of digital assets.
Users with Runestone NFTs affected by this change have until April 10 to claim any connected benefits. Binance highlights the significance of withdrawing these NFTs on time to avoid possible losses.
