Markets News Report
February 23, 2024

Binance Web3 Wallet Unveils Inscriptions Marketplace, Adds Support for ERC-404 Tokens

In Brief

Binance Web3 Wallet announced the launch of Inscriptions Marketplace and added support for ERC-404 tokens.

Binance Web3 Wallet Unveils Inscriptions Marketplace, Adds Support for ERC-404 Tokens

Digital wallet for cryptocurrencies within the Binance application, Binance Web3 Wallet announced the launch of Inscriptions Marketplace and added support for ERC-404 tokens following its recent surge in popularity.

The support for ERC-404 tokens, a hybrid of ERC-20 and ERC-721 standards, will facilitate fractionalized NFT collections, eliminating the need for intermediaries in the process.

Meanwhile, the introduction of inscriptions Marketplace within the Web3 Wallet will allow users to mint and trade inscriptions, encompassing BRC-20 and EVM tokens, providing a streamlined experience for interacting with over 60,000 BRC-20 tokens and others through decentralized applications (dApps).

Within the Web3 Wallet, users can utilize the Inscriptions Accelerator by paying a fee. This service allows users to expedite their transactions, providing an advantage in the cryptocurrency market. This becomes particularly beneficial during network congestion or instances where low transaction fees may cause confirmation delays.

The accelerator prioritizes transactions with miners, leading to accelerated processing times and contributing to enhanced trading efficiency by reducing wait times and increasing transaction dependability.

Additionally, the wallet has incorporated several new networks, encompassing the modular ecosystem for Web3, Manta, Layer 1 with built-in chain-agnostic interoperability, ZetaChain, the ZK-powered Layer 2, ZKFair, the Ethereum Layer-2 scaling solution, Metis, and the Layer-2 solution for Ethereum based on zkEVM, Scroll.

Binance Announces New Airdrop

Complementing the introduction of an Inscriptions Marketplace, Binance has announced the airdrop, scheduled to run from February 22 to April 3, 2024, offering users $1 million in rewards. A diverse array of token rewards is available for participants to claim including RATS, AINN, BDIN, MMSS, BIDP, BRC20.com, ORNJ, NEWU, MUBI, INDS, DEPD, ROUP, and ITNP.

During each week of the airdrop, participants who meet specific trading criteria will be ranked on how the numbers in their BUIDs sequentially align with the BNB Beacon Chain’s block hash value at the start of that Airdrop Week. The top ranks, indicating the highest sequence matches, will be crowned the winners for the week, each receiving $1,000 worth of the highlighted token.

With the latest advancements, Binance’s Web3 Wallet continues to evolve, supporting innovative projects and reinforcing its commitment to the community in the dynamic cryptocurrency landscape.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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