- On the Binance NFT marketplace, only selected ERC-721 collections from the Polygon network are currently available.
- Meanwhile, with artificial intelligence (AI) making its way into the Web3 space, Binance has jumped on board.
- According to the announcement, the move expands the NFT ecosystem within the Binance community.
Binance NFT, the nonfungible token (NFT), a subsidiary of crypto exchange Binance, has announced that the Polygon network has been added to its supported blockchains within the marketplace.
According to the announcement, the move expands the NFT ecosystem within the Binance community. Users of the Binance NFT marketplace can now trade NFTs on various blockchains, such as Ethereum, BNB Smart Chain, and Polygon, using their Binance accounts thanks to the new integration.
Despite the announcement, Binance maintains a strict stance on its NFT listings. The NFT marketplace stated in the information that not all NFT collections would be available at the time. According to them:
“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 regularly.”
On January 19, the NFT platform announced it would delist NFTs with a daily trading volume of less than $1,000. Furthermore, the exchange restricted the number of NFTs that artists could mint per day. Aside from that, Binance stated that it would review NFT listings regularly and recommend that those that do not meet its standards be delisted.
Meanwhile, with artificial intelligence (AI) making inroads into the Web3 space, Binance is also looking into it. Binance CEO Changpeng Zhao announced on March 2 that its AI-powered NFT generator, “Bicasso,” had launched and minted 10,000 NFTs in just 2.5 hours.
Despite its early success, the AI tool was quickly marred by controversy. A BNB Chain hackathon winner accused Binance of stealing and copying their project called “Chatcasso” a day after the launch of Bicasso. The exchange dismissed the accusations by emphasizing the similarities between NFTs and AI. Bicasso was developed more than two weeks before the hackathon independently, according to a Binance spokesperson.
In conclusion, Binance’s foray into the NFT market represents the exchange’s commitment to providing innovative solutions to its users.
