Binance NFT Ceases Support for Bitcoin NFTs

Binance NFT discontinues Bitcoin NFT trades and deposits, advises withdrawals by deadline, and details distribution of Runestone NFTs and tokens.

Binance NFT, the NFT marketplace offered by leading cryptocurrency exchange Binance, has recently made an important update regarding Bitcoin NFTs. In an official announcement, Binance NFT stated that it will cease support for trades and deposits of Bitcoin NFTs on its platform.

According to the announcement, users are advised to withdraw their Bitcoin NFTs from the Binance NFT Marketplace via the Bitcoin network before May 18, 2024, to ensure they retain ownership and control over their assets. After April 18, 2024, users will no longer be able to buy, deposit, bid on, or list NFTs on the Binance NFT Marketplace using the Bitcoin network.

It is important to note that all impacted listing orders will be automatically canceled at the specified date and time. Additionally, Binance NFT clarified that it will not support any further airdrops, benefits, or utilities associated with Bitcoin NFTs after April 10, 2024.

The announcement also addressed Runestone NFTs. Binance NFT confirmed that for users who are eligible for the Runestone airdrop, the NFTs have already been distributed to their Binance NFT accounts. However, users are advised to withdraw these NFTs before April 10, 2024, to ensure they have the opportunity to receive any associated tokens, utilities, and benefits.

It is important for users to take note of the specified deadlines and ensure they withdraw their Bitcoin NFTs and Runestone NFTs accordingly. Failure to do so may result in the loss of associated tokens and benefits.

Binance NFT emphasized that the trading of Runestone NFTs will not be supported on its platform. Users who have any questions or concerns regarding these updates are encouraged to reach out to the Customer Support team for assistance.

As with any investment, it is crucial to understand the risks involved. The value of NFTs can be volatile, and users should be aware that NFTs are subject to high market risk. Binance reminds users to exercise caution and make informed decisions when participating in the NFT market.

In conclusion, Binance NFT has announced the cessation of support for Bitcoin NFTs on its marketplace. Users are advised to withdraw their Bitcoin NFTs before May 18, 2024, and to withdraw Runestone NFTs before April 10, 2024, to ensure they retain access to associated tokens, utilities, and benefits. For further information and assistance, users can contact Binance NFT’s Customer Support team.

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This article was originally reported on Blockchain News.