The well-known crypto exchange Binance’s non-fungible tokens-related subsidiary “Binance NFT” has declared that it has incorporated support for the Polygon network. As a result of this move, Polygon has become a part of several blockchains supported by the NFT marketplace. As per the announcement, this move effectively spreads the ecosystem of the NFT sector within the community of Binance.
Binance NFT Begins Supporting Polygon, Adding Another Blockchain for Consumers
The latest integration plays the role of a further step in the provision of convenience for consumers in trading NFTs on diverse blockchains such as Polygon, BNB Smart Chain, and Ethereum with the use of Binance-based accounts. While disclosing the integration, Binance NFT noted on Twitter that the consumers will be permitted to deposit, withdraw, sell, and purchase non-fungible tokens on the platform of Polygon.
Notwithstanding the announcement, the crypto exchange is even now having a stringent approach related to NFT listings. The NFT marketplace pointed out in its announcement that the availability of all the NFT collections is not ensured at present. It added that the available NFT collections will be ERC-721-based. Nonetheless, the NFT marketplace hopes that it will include additional NFT collections with time regularly.
The NFT Marketplace Tightens Regulation for NFT Listings
On the 19th of January, the NFT company issued stringent rules for NFT listings. It mentioned that the marketplace would delist those non-fungible tokens which have a regular trading volume of less than $1,000. Additionally, the platform restricted the sum of NFTs to be minted by the artists every day.
Along with this, Binance stated that it would periodically assess NFT listings. In the meantime, Binance is delving into the Web3 space with artificial intelligence. The crypto exchange Binance has declared launching “Bicasso” (a new NFT generator powered by AI technology). On the 2nd of this month, Changpeng Zhao (the CEO of Binance) shared on Twitter that the project effectively minted up to 10,000 non-fungible tokens in only 2.5 hours.
Notwithstanding the initial success of the AI-powered NFT-generating tool, it experienced controversy. Just a day following Bicasso’s launch, a winner of the BNB Chain hackathon accused the crypto exchange of copying and stealing their project named “Chatcasso.” As per him, the similarity between the names is also an indication. However, Binance rejected the allegations and asserted that AI and NFTs are currently common topics.
