Binance NFT Marketplace Adds Polygon Network Support

Binance NFT Marketplace has just announced the addition of the Polygon network to the list of supporting chains, in an effort to expand the NFT ecosystem to the community.

Binance NFT Marketplace Adds Polygon Network Support

The announcement of integration with Polygon was made by Binance NFT Marketplace on the afternoon of March 8, further strengthening its multi-chain ecosystem.

As of now, users can discover and trade NFTs on the BNB Smart Chain (BSC), Ethereum (ETH) and Polygon (MATIC) blockchains, with just a single Binance account.

The announcement also states that the platform will support trading, depositing, withdrawing and listing Polygon NFTs on the Binance NFT Marketplace. To participate in trading or listing on Binance NFT Marketplace, users need to complete identity verification (KYC) and hold MATIC tokens in spot wallets.

However, only selected NFT ERC-721 collections belonging to the Polygon system will be available on the Binance NFT Marketplace. In the future, the platform will list more collections. Otherwise, Binance reserves the right to suspend, freeze or cancel accounts showing signs of fraud.

Back on January 19, Cointelegraph reported that Binance has begun tightening NFT listing regulations. Accordingly, the exchange will delist NFTs with daily trading volume below 1,000 USD and limit the number of NFT mint artists per day. In addition, Binance will also periodically review NFT listings and de-list works that do not meet standards.

Until recently, Binance’s NFT Exchange Launched “Bicasso”a toolkit for creating NFTs using artificial intelligence, to promote NFT adoption on BNB Chain and embrace the AI ​​trend. CEO of Binance Changpeng Zhao At that time, said that because it was only in beta testing phase, Bicasso was only limited to 10,000 NFT issuances, but had already reached the milestone of more than 9,000 users joining the mint after only 3 hours of launch. However, not long after that, the platform was Suspected of “plagiarizing” ideas from the Korean project “Chatcasso” participated in the BNB Chain Hackathon in December 2022.

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