Binance Shuts Down its NFT Service
Binance is closing its Binance Connect service on Aug. 16 due to changing market needs, even as confusion arises over its exact shutdown time.
Binance Connect, a service from the Binance exchange, will close on Aug. 16, according to a Binance spokesperson.
The company said they are closing it because of "changing market and user needs" but did not give more details. The spokesperson explained that Binance regularly checks its products and changes them to fit their long-term goals.
This service started on March 7, 2022, with the name Bifinity.
Binance Connect was planned to have a special feature for buying NFTs (digital art), but this feature was never added. NFT buying tools let people buy digital art using many payment methods, like credit cards.
There was some confusion about the exact time Binance Connect would stop. A tweet from Biswap said it would be on August 15, 2023, at 01:00 PM UTC. But this was wrong. As of 2:15 pm ET, Binance Connect is still working.
Reported by Coinpaprika News
