Binance NFT Signs a Partnership with Polygon Network

In the Binance NFT marketplace, users may now purchase, deposit, withdraw, and list NFTs from the Polygon network.

Binance NFT, the exchange’s non-fungible token subsidiary, announced it would introduce support for the Polygon network on March 8.

Integrating the Polygon network will allow users to investigate and trade a broader selection of NFTs across several blockchains. This consists of the BNB Smart Chain (BSC), the Ethereum (ETH) network, and Polygon from their Binance accounts.

Binance has adopted a cautious stance in terms of NFT listings despite the news. Thus, the marketplace indicated that not all NFT collections would be offered now.

According to the official blog article, only selected ERC-721 NFT Collections on the Polygon network are accessible on the Binance NFT exchange.

Ten collections have been uploaded so far. The platform intends to integrate more often. In addition, users must have the native token of the Polygon network, MATIC, in their spot wallets to withdraw Polygon NFTs.

The announcement comes more than a month after Binance upgraded its NFT listing requirements. Before selling on its site, sellers were required to undergo Know Your Customer (KYC) authentication and have at least two followers.

Moreover, Binance said it would regularly examine the NFT listings and delist any violating the marketplace’s policies.

“Users may notify Binance NFT about NFTs and NFT collections that may violate Binance NFT’s Minting Regulations and Conditions of Service. Before taking appropriate action, the moderation team will evaluate every user complaint of fraudulent or harmful material. In November, football legend Cristiano Ronaldo announced the introduction of his CR7 NFT line.

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