cryptopotato.com
Cryptocurrency exchange Binance’s non-fungible token arm – Binance $NFT – has announced adding support for the Polygon network on March 8th.
The integration of the Polygon network will enable users to explore and trade a wider variety of NFTs across multiple blockchains. This includes – BNB Smart Chain (BSC), Ethereum (ETH) network, as well as Polygon from their Binance accounts.
- Despite the announcement, Binance has taken a cautious approach in terms of $NFT listings. As such, the marketplace said that not all $NFT collections would be available at the moment.
- According to the official blog post, only handpicked ERC-721 $NFT Collections on the Polygon network are available on the Binance $NFT marketplace.
- So far, ten collections have been added. The platform plans to integrate more on a regular basis.
- Moreover, users are also required to hold Polygon network’s native token, MATIC, in their spot wallets to withdraw Polygon NFTs.
- The news comes more than a month after Binance released an update tightening its rules regarding $NFT listings.
- It rendered mandatory for the sellers to complete Know Your Customer (KYC) verification and have at least two followers before listing on its platform.
- Binance also said it will periodically review the $NFT listings and delist if found to be violating the marketplace’s rules.
“Users can report NFTs and $NFT collections that potentially violate Binance $NFT’s Minting Rules and Terms of Service to Binance $NFT. The moderation team will actively investigate any user report of fraudulent or malicious content before taking the necessary action.”
- Last November, Football icon Cristiano Ronaldo announced launching his CR7 $NFT collection on the platform.