Binance, the world's largest cryptocurrency trading platform, has announced the launch of a token-of-entry trading platform to facilitate the buying, selling and minting of a wide range of such assets.
According to a press release seen by the Minister of Cryptocurrency, the Binance Inscriptions Marketplace uses the Application Programming Interface (API) of UniSat, a Bitcoin inscription marketplace and wallet provider, and is hosted on the Binance Web3 Wallet.
Binance Launches Inscriptions Marketplace
Inscription tokens are fungible assets that can be used to store digital artifacts and non-fungible tokens (NFTs) created on blockchains. Artifacts contain data such as texts and images.
Inscriptions became popular in 2023 after the launch of the Ordinals protocol on the Bitcoin blockchain. A study by Binance revealed that the volume of inscription minting has increased significantly since the conceptualization of BRC-20 tokens last year. This has made BRC-20 tokens one of the most popular in the crypto space.
Binance Inscriptions Marketplace provides users with access to a variety of features to explore the world of inscription tokens, including BRC-20 assets and the Ethereum Virtual Machine (EVM). Users can move notes between the Binance trading platform and its Web3 wallet and transact using the Bitcoin Transaction Accelerator.
Commenting on the market launch, Rohit Wade, Chief Technology Officer of Binance, said: âOur partnerships with industry leaders allow us to accelerate these innovations, combining convenience with cutting-edge technology for all users.
With the Binance Inscriptions Marketplace, we hope to support the industry by providing a single gateway for more people to explore, experiment, and benefit from Inscription Tokens. We hope that the streamlined process will make the process easier and more enjoyable for everyone."
