Binance NFT Marketplace users can now buy, list, and withdraw Polygon Network NFTs from their accounts.

Binance NFT has announced that it will now support the Polygon Network.

According to the March 8th announcement, Polygon blockchain NFTs can now be traded on the Binance NFT marketplace.

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Binance NFT Marketplace supports multiple blockchains, including BNB Smart Chain (BSC) and the Ethereum Network. With the addition of the Polygon Network, users will have more options to find and trade NFTs.

However, not all Polygon Network NFTs will be supported in the marketplace. Binance announced that only a few handpicked Polygon ERC-721 NFT collections would be supported. Regarding the matter, Binance stated:

Currently, only selected ERC-721 NFT Collections on the Polygon network are available on the Binance NFT Marketplace. Binance NFT will integrate more NFT collections on a regular basis.

Thus far, Binance Marketplace has only approved ten collections. According to the announcement, the plan is to list more over time. To withdraw the Polygon Network NFTs, users must hold MATIC, the Polygon Network native token, in their spot wallet.

Binance also revealed that it was looking for Polygon Network NFT projects to collaborate with. In its blog post, Binance highlighted that interested parties should contact the platform.

The announcement came less than two months after Binance announced plans to adjust non-fungible token (NFT) minting rules and remove a number of NFT collections.

According to the exchange’s new rules, NFTs with daily trading volumes lower than $1,000 would be delisted. It also limited the number of mints allowed for an artist daily. Additionally, Binance stated that it would periodically review listed NFTs and delist those that don’t meet the standards.

Gile K. - Crypto Analyst

by Gile K. – Crypto Analyst, BitDegree

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