In this week’s newsletter, discover the latest updates from Binance’s nonfungible token (NFT) division, including the discontinuation of support for Bitcoin Ordinals. Additionally, learn about the exciting airdrop of Dogecoin Ordinals’ Runestones and gain insight into asset manager Franklin Templeton’s perspective on Bitcoin NFTs. In other news, we explore the potential impact of the metaverse on the medical tourism market. Lastly, don’t miss out on the Nifty News, featuring the collaboration between NFT collection Doodles and Lil Wayne on an animated film.
Binance Ceases Support for Bitcoin Ordinals
Binance NFT has decided to halt its support for Bitcoin-based NFTs. On April 4th, Binance announced that it would no longer facilitate trades and deposits involving Bitcoin Ordinals as part of its efforts to streamline its product offerings. The exchange also revealed that it will discontinue Bitcoin NFT airdrops and utilities after April 10th. Users are advised to withdraw their Bitcoin NFTs from the marketplace before May 18th.
Dogecoiners Launch Runestone Airdrop in Bitcoin Ordinals Style
In a similar fashion to Bitcoin Ordinals, Dogecoin NFT users initiated a giveaway of their own version of Runestones in March. Over 30,000 Doge Runestones were distributed to wallets that held at least one Doginal, which is Dogecoin’s Ordinals protocol. This airdrop mirrored the popularity of the Bitcoin-based Runestone airdrop, where early adopters of the protocol received 112,000 Runestones through a community-driven effort.
Franklin Templeton Acknowledges Ordinals’ Positive Impact on Bitcoin Innovation
Asset manager Franklin Templeton recently shared an investor note introducing Bitcoin Ordinals to its clients. The note highlighted the protocol’s role in stimulating a “renaissance” of activity on the Bitcoin network and its contribution to positive momentum in Bitcoin innovation through NFTs. While expressing optimism about Ordinals, Franklin Templeton also cautioned its investors about associated risks.
Nifty News: Doodles Collaborates with Lil Wayne on Animated Film
NFT collection Doodles made an exciting announcement about its upcoming animated film, featuring a character voiced by renowned rapper Lil Wayne. On April 5th, the collection revealed its plans to offer a storytelling experience through “digital collecting experiences.” Meanwhile, NFT sales volume across all blockchains has experienced a decline for the fifth consecutive week after reaching a year-to-date peak in March.
Thank you for reading this summary of the week’s significant developments in the NFT space. Join us again next Wednesday for more reports and insights into this rapidly evolving field.