- Binance NFT Marketplace announces the end of support for the Polygon Network, effective September 26, 2023.
- Users must withdraw their Polygon Network NFTs from the platform by December 31, 2023.
In a significant move, Binance NFT Marketplace has announced it will cease support for the Polygon Network. The change takes effect on September 26, 2023, at 06:00 UTC. This decision aligns with the platform’s ongoing efforts to refine its product offerings.
#Binance NFT will be discontinuing The Sandbox NFT Staking Program and will remove support for the Polygon Network from September 26, 06:00 UTC.More details here https://t.co/jKqq9D57yT— Binance (@binance) September 11, 2023
Users have until December 31, 2023, at 23:59 UTC, to withdraw their Polygon Network NFTs. After September 26, several NFT-based activities related to the Polygon Network will be restricted. Specifically, users won’t be able to buy, deposit, offer, or list Polygon Network NFTs. Listings affected by this change will be automatically canceled. Moreover, the corresponding NFTs will be returned to users’ accounts after September 28, 2023, at 02:00 UTC.
Binance Discontinues The Sandbox Staking Program
In a related update, the marketplace is also discontinuing its staking program for The Sandbox NFTs. Users staking their LAND NFTs on the Polygon Network will be affected. The staking program will officially end on September 27, 2023.
All staked LAND NFTs will be automatically unstacked and returned to users’ Binance accounts after September 28, 2023, at 02:00 UTC. The final distribution of daily SAND rewards will be credited to users’ Spot wallets automatically after this date.
The Binance team has expressed apologies for any inconvenience caused by these changes and encourages users to contact their customer support team for queries.
What This Means for the NFT Community
This move by Binance NFT Marketplace stands out for its multifaceted impact. It indicates a change in the platform’s strategic focus and has repercussions for a wide range of digital assets like art, collectibles, and virtual goods. Additionally, the decision will influence various marketplace activities, including auctions, fixed-price sales, and staking programs.
While the announcement may disappoint some users, it’s clear that Binance is committed to streamlining its services. By doing so, the platform aims to offer a more focused and efficient user experience. As the NFT landscape continues to evolve, such changes are to be expected. Users should stay informed and adjust their strategies accordingly.