Binance NFT Marketplace Discontinues Service for Polygon in an Effort to ‘Streamline’
Users may get their Polygon NFTs off of the NFT Marketplace on the exchange till the end of the year.
Binance, a cryptocurrency exchange, said today that it would no longer include Polygon in its NFT marketplace.
According to a blog post published on Friday, the largest cryptocurrency exchange in the world explained the move as part of “ongoing efforts to streamline product offerings on Binance NFT Marketplace.”
Decrypt’s request for comment to Binance went unanswered for some time. This comes just after Binance CEO Changepeng Zhao denied Twitter “rumors” that executive had departed the business or that it was closing down initiatives. Also in the same communication was the claim that Binance has been “smooth sunsetting of old products.”
According to the notification made on Friday, Polygon NFTs will be removed from the market at 6am UTC on September 26 and will no longer be available for purchase or listing. Staking LAND NFTs hosted on Polygon for daily The Sandbox (SAND) prizes is also unavailable.
As part of “our ongoing efforts to streamline the products available on Binance NFT Marketplace,” the exchange has announced that NFTs would be delisted as of December 31. MATIC, the fourteenth biggest cryptocurrency by market size, is based on a blockchain called Polygon. CoinGecko reports that the current price of MATIC is $0.54, down 2.4% from the day before.
The decline negated the token’s previous week’s gains. The MATIC price has dropped by 21% from its monthly high, which coincided with the announcement that tokenized Coinbase equities will be added to the network through Backed Finance.