Binance NFT Marketplace Ends Support For Polygon Network
Binance NFT Marketplace has announced the discontinuation of its support for the Polygon Network, effective September 26, 2023.
Binance NFT Marketplace has declared that it would stop supporting the Polygon Network as of September 26, 2023, in a calculated move.
This decision is part of the platform's broader effort to refine its product offerings and focus on more targeted services.
Users are advised to take note of the timeline, with a deadline for withdrawing Polygon Network NFTs set for December 31, 2023, at 23:59 UTC.
Changes Affecting Polygon Network Users
Following this announcement, users engaging with the Polygon Network on the Binance NFT Marketplace will experience several significant alterations.
Activities related to Polygon Network NFTs, including buying, depositing, offering, and listing, will be restricted after September 26, 2023.
Any affected listings will be automatically cancelled, and corresponding NFTs will be returned to users' accounts after September 28, 2023, at 02:00 UTC.
Sandbox Staking Program Discontinued
In tandem with this shift, the platform will also cease its staking program for The Sandbox NFTs.
This move, which affects users staking their LAND NFTs on the Polygon Network, is slated to take effect 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.
Additionally, the final distribution of daily SAND rewards will be credited to users' Spot wallets automatically after this date.
Binance's Apology and Commitment to Service
Recognizing the potential disruption these changes may cause, the Binance team has extended their apologies to the affected users.
They have also emphasized their dedication to providing continued support and encourage users to reach out to their customer support team with any inquiries.
Impact on the NFT Community
This strategic shift by Binance NFT Marketplace holds significance for the broader NFT community.
It signals a change in the platform's strategic direction, with potential implications for various digital assets, including art, collectibles, and virtual goods.
Moreover, these changes will affect various marketplace activities, ranging from auctions to fixed-price sales and staking programs.
While some users may find these adjustments unexpected, they reflect Binance's commitment to optimizing its services for a more focused and efficient user experience.
In a rapidly evolving NFT landscape, such adaptations are a natural part of the industry's growth.
It is crucial for users to stay informed and adjust their strategies accordingly to navigate these changes effectively.
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