Binance Enhances Access to Web3 with the Launch of Its Inscriptions Marketplace
In Brief
Users can effortlessly buy, sell, and mint a variety of inscription tokens via the platform, which functions with the Binance Web3 Wallet.
Dubai, United Arab Emirates – February 1, 2024 – Binance, a global blockchain platform trusted by over 172 million users worldwide, has just unveiled its much-anticipated Binance Inscriptions Marketplace . Hosted within the Binance Web3 Wallet , an intuitive crypto wallet found within the Binance app, making the Binance Inscriptions Marketplace a simple and user-friendly space for trading and creating various inscription tokens.
The term 'inscription tokens' encompasses a variety of fungible tokens that enable the creation of digital artifacts on diverse blockchains. These tokens can store all sorts of data, from text to images, facilitate the creation of NFTs, and support decentralized applications (dApps). Among these, BRC-20 tokens, minted through the Ordinal protocols on the Bitcoin blockchain, have gained significant popularity among enthusiasts. As per Binance Research report , there has been a substantial uptick in minting activities for these inscription tokens following the advent of BRC-20s in March 2023.
The Binance Inscriptions Marketplace is packed with features for users to dive deep into the realm of inscription tokens, including:
- Limitless Access: Easily buy, sell, or inscribe various BRC-20 tokens, EVM tokens, and many others.
- Smooth Transfers: Transfer inscriptions seamlessly between the Binance exchange and the Web3 Wallet with just one click.
- Accelerated Transactions: Enjoy quicker transactions with the BTC Transaction Accelerator’s help.
Rohit Wad, Chief Technology Officer at Binance, stated: “We firmly believe that blockchain technology has tremendous potential to empower individuals. The interest and engagement that inscription technology has garnered from the global crypto community is incredibly exciting for us. As new innovations unfold, they present fresh use cases and added value to our industry, which benefits everyone involved. Our collaborations with industry pioneers enable us to push these innovations forward, merging convenience with groundbreaking technology for all users.”
“With the launch of the Binance Inscriptions Marketplace, our goal is to aid the industry by providing a central hub for a broader audience to discover, experiment, and reap the benefits of inscription tokens. We aspire to simplify the process, making the entire experience more enjoyable for all participants,” Rohit added.
In order to make the journey into the world of inscriptions as smooth as possible, Binance Inscriptions Marketplace partners with UniSat , a trailblazer in the realm of ordinals and inscriptions. This strategic collaboration allows users to tap into UniSat’s extensive liquidity and access over 60,000 BRC-20 token offerings while enjoying the safety, simplicity, and convenience provided by the Binance Web3 Wallet.
Lorenzo, Director at UniSat, remarked: “We are thrilled to assist Binance in launching their Inscriptions Marketplace. Binance’s unwavering commitment to innovation mirrors our vision for fostering positive growth in the industry. At UniSat, we are convinced that inscription assets hold great promise for the future. We hope that this significant move by Binance, in support of inscriptions, will motivate more developers and crypto enthusiasts to explore this captivating sector.”
The debut of the Binance Inscriptions Marketplace marks the latest innovation from Binance as part of its ongoing mission to enhance Web3 accessibility and convenience for all users. Just last month, Binance rolled out several updates to the Binance Web3 Wallet, introducing new chains, improved swap capabilities, and 19 additional integrated dApps. new features Users can expect forthcoming features, enhancements, and more tokens to be supported in both the Binance Web3 Wallet and the Binance Inscriptions Marketplace. More details will be shared through official Binance channels as they become available.
Disclaimer : The Binance Web3 Wallet is an optional product. It is your responsibility to determine if this product suits your needs. Binance is not accountable for your access to or use of any third-party applications (including features integrated within the Binance Web3 Wallet), and bears no liability regarding your transactions through such third-party applications. Please review the Terms of Use for the Binance Web3 Wallet and conduct your own due diligence.
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In line with the Trust Project guidelines Gregory, a digital nomad from Poland, is not just a keen financial analyst but also a helpful contributor to multiple online publications. With a vast wealth of experience in finance, his insights have earned him recognition in various media. Making the most of his free time, Gregory is currently focused on authoring a book centered around cryptocurrency and blockchain.
