Binance Research on How Bitcoin NFTs Are Taking the Crypto World by Storm

On Tuesday (7 February 2023), Binance Research, the research division of Binance, the largest cryptocurrency exchange by trading volume, delved into the topic of Bitcoin NFTs. In a Twitter thread posted earlier today, Binance Research said that traditionally, the Bitcoin blockchain was only used for payment transactions, but recently a new protocol known as the Ordinals protocol has emerged, introducing on-chain, Bitcoin-native NFTs. Before the advent of Ordinals, those seeking NFTs would have to turn to smart-contract platforms like BNB Chain or Ethereum. The Ordinals protocol, however,” creates unique digital artifacts that can be held and transferred across the Bitcoin