About the Binance Chain and the Non-Fungible Token Protocol

Binance Chain is a blockchain-based exchange that supports non-fungible token (NFT) trading. It is a mechanism by which institutions can create and distribute their own cryptocurrency. Unlike Bitcoin and Ethereum, Binance Chain has no fixed supply. Instead, each NFT has its own bid and can be traded on the blockchain.

The Non-fungible Token Protocol (NFP) is an open source protocol for creating unique digital objects that can exist independently of each other. The protocol was created by decentralized application developer OpenSea to allow users to create digital assets with unique features, such as ownership, scarcity, privacy, and more.

The Binance Chain aims to provide an alternative to centralized exchanges by enabling trading between assets built on its platform. These assets will be called NFTs and will be used as payment methods in games or other applications developed using the Binance Chain software development kit (SDK).