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Chinese cryptocurrency journalist and blogger Colin Wu has spread the word about Binance Web3 Wallet integrating support for the new Ethereum-based ERC-404 token standard.
By coincidence, this Ethereum-based standard was used for minting the recently launched SHIB-themed collection of NFTs called Sheboshis. The SHIB team plans to bridge it to Shibarium in the future.
Aside from the ERC-404 integration, the Binance wallet also posted that it is launching an Inscriptions Marketplace. What is more, an impressive giveaway of $1 million worth of crypto was promised to the cryptocurrency community.
Binance wallet supports ERC-404
Striving to improve user experience, the team of the Binance Web3 Wallet is launching a series of upgrades and new features. The first one it announced in the recent blog post was the integration of the new ERC-404 token standard. It also allows for the integration of new dapps and networks which are based on ERC-404 or are working with it.
ERC-404 brings together the ERC-20 and ERC-721 standards, thus paving the way for enabling fractionalized NFT collections and eliminating the necessity to work via intermediaries. The first ERC-404 token was Pandora (PANDORA) and it shot off at the start of February. Within a week, its price skyrocketed from $250 to $32,000 with its total supply amounting to merely 8,000.
Seeing the huge success of Pandora, other developers followed suit quickly as they began to launch their own tokens based on ERC-404.
$1 million worth of crypto in rewards
Binance Web3 Wallet also announced an airdrop for users of the newly revealed Inscriptions Marketplace. This platform allows minting and trading inscriptions, which include BRC-20 and EVM tokens.
The giveaway is launched in collaboration with Binance Web3 Wallet’s BRC-20 partners, which have provided their tokens for rewarding users - MUBI, ROUP, NEWU, ORNJ, etc.
To take part, users need to get their Binance account verified, sets up a Binance Web3 Wallet and then follow the list of instructions provided in the Binance’s blog post.
Tomiwabold Olajide
Godfrey Benjamin
