In this week’s newsletter, read about Binance’s nonfungible token (NFT) arm ending support for Bitcoin Ordinals, check out Dogecoin Ordinals airdropped Runestones, and find out how asset manager Franklin Templeton feels about Bitcoin NFTs. In other news, the metaverse is set to revolutionize the medical tourism market, and don’t forget this week’s Nifty News, featuring NFT collection Doodles collaborating on an animated film with Lil Wayne as a skeleton.
Binance NFT has halted its support for Bitcoin-based NFTs. On April 4, Binance posted that it would cease support for Bitcoin Ordinals trades and deposits as part of its efforts to streamline product offerings.
The exchange said it will also cease offering Bitcoin NFT airdrops and utilities after April 10. Furthermore, the exchange advised users to withdraw their Bitcoin NFTs from the marketplace before May 18.
Dogecoin NFT users handed out their version of Runestones in a giveaway similar to Bitcoin Ordinals in March. Over 30,000 Doge Runestones were sent to wallets that held at least one Doginal — Dogecoin’s Ordinals protocol.
The Doge Runestones airdrop mimicked the popular Bitcoin-based Runestone airdrop in March. During the event, a community-run effort allowed 112,000 Runestones to be given to early adopters of the protocol.
Asset manager Franklin Templeton shared an investor note introducing Bitcoin Ordinals to its clients. The asset manager explained that the protocol spurred a “renaissance” in activity on the Bitcoin network. Franklin Templeton also highlighted that Bitcoin NFTs drove positive momentum in Bitcoin innovation.
While the asset manager showed positivity toward Ordinals, it also warned its investors that there are risks associated with the protocol.
NFT collection Doodles announced its upcoming animated film featuring a character voiced by popular rapper Lil Wayne. On April 5, the collection announced it would roll out a storytelling experience through “digital collecting experiences.”
Meanwhile, NFT sales volume for all blockchains has slid for the fifth week after reaching a year-to-date high in March.
Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.