Binance NFT, the division responsible for non-fungible tokens (NFTs) within the Binance cryptocurrency exchange, has revealed that the Polygon network is now among the supported blockchains available on its marketplace.
Binance NFT Platform Adds Support For The Polygon Blockchain
Per the announcement, this development represents a significant expansion of the NFT ecosystem within the exchange’s ecosystem. Including the Polygon network among the supported blockchains enables users of the Binance NFT marketplace to engage in NFT trading activities across various the Polygon blockchain and other notable blockchains such as BNB Smart Chain and Ethereum.
More importantly, they can perform these transactions from their Binance accounts. Despite the news, Binance maintains a stringent stance on its NFT listings.
The NFT marketplace emphasized in its post that although the NFT marketplace adds support for the Polygon network, not all NFT collections are available for trading yet.
Binance wrote, “presently, the Binance NFT Marketplace only offers a limited number of ERC-721 NFT Collections that are available on the Polygon blockchain. Yet, the platform intends to add other NFT collections soon.”
On January 19th, the NFT platform implemented stricter regulations concerning NFT listings, including delisting NFTs with a daily trading volume below $1,000. In addition, the platform placed limits on the number of NFTs that digital creators can create per day.
Furthermore, Binance stated that it would periodically assess NFT listings and remove those that fail to meet its standards.
Binance Delves Into The AI Space With AI-based NFT Creator
Apart from crypto, Binance is also looking at other areas of technology development, one of which is AI (artificial intelligence). Currently, AI is penetrating the Web3 space.
Last week, Changpeng Zhao, Binance CEO, announced the launch of the company’s AI-driven NFT creator, known as “Bicasso.” The AI-driven NFT creator produced 10,000 NFTs in only 2.5 hours after its launch.
Although the AI tool achieved early success, it immediately faced controversy a few hours after its launch. According to reports, a winner of the BNB Chain hackathon accused Binance of theft and plagiarism, claiming that the exchange copied his project, “Chatcasso.”
However, the exchange dismissed the accusations, emphasizing that AI and NFTs are popular concepts many individuals are developing. According to a Binance representative, the exchange had already created Bicasso independently more than two weeks before the BNB Chain hackathon.