Polygon is now in Binance NFT Marketplace

Posted Friday, March 10, 2023 by
Sophia Cruz • 1 min read

Binance’s NFT crypto exchange platform Binance NFT has recently announced its integration with the Polygon Network to be included in its supported blockchains within the marketplace. 

As per the announcement, this integration will further expand the NFT ecosystem within the Binance community. This means that users of the Binance NFT marketplace will be able to trade their NFTs on different blockchains such as Ethereum, BNB Smart Chain, and Polygon using their Binance accounts. 

However, it seems that Binance still keeps a strict approach to its NFT listings. This means that not all NFT collections will be available at this stage. Only selected ERC-271 NFT Collections on the Polygon network will be available on the Binance NFT marketplace but will integrate more of the NFT collections on a regular basis. 

At this moment, users must hold their MATIC tokens in their spot wallets to withdraw Polygon NFTs.

In January, the Binance NFT platform tightened its rules on NFT listings stating that NFTs with daily trading volume of lower than $1,000 will no longer be listed. In addition, they also put a daily limit on the NFTs that the artists can mint. Binance NFT will also review its NFT listings periodically and make sure that NFTs that don’t meet the standards will be delisted from the marketplace.

While artificial intelligence finds its way into the Web3 space, Binance is exploring the technology. “Bicasso” is Binance’s AI-powered NFT generator, converting creative visions into NFTs through prompts or uploading images. A total of 10,000 NFTs were created during its first pilot in just 2.5 hours.

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