- Polygon Network support ends on September 26, 2023.
- Staking program for The Sandbox NFTs discontinued.
- Important dates for users to remember.
Binance NFT Marketplace, a digital platform enabling the trading of non-fungible tokens (NFTs), is operated by Binance, one of the world’s leading cryptocurrency exchanges. The marketplace, established on June 24, 2021, boasts a diverse array of digital assets, encompassing art, collectibles, and virtual goods. Offering support for various blockchain networks, it hosts a range of activities, including auctions, fixed-price sales, and staking programs. It is renowned for its partnerships with artists, celebrities, and brands, resulting in exclusive NFT collections.
On September 8, 2023, Binance NFT Marketplace made an announcement: it would discontinue its support for the Polygon Network, effective September 26, 2023, at 06:00 UTC. This decision is part of the platform’s ongoing initiative to streamline its product offerings. Users are urged to withdraw their NFTs from the Polygon Network on the Binance NFT Marketplace by December 31, 2023, at 23:59 UTC. Additional information for affected users will be furnished at a later date.
Commencing on the aforementioned date, the platform will restrict various activities associated with the Polygon Network. Users will lose the ability to purchase, deposit, offer, or list NFTs from the Polygon Network on the Binance NFT Marketplace. Listings affected by this change will be automatically canceled, and the corresponding Polygon Network NFTs will be returned to users’ accounts after September 28, 2023, at 02:00 UTC.
In a related development, the marketplace will also terminate its staking program for The Sandbox NFTs. Users will no longer be able to stake their LAND NFTs on the Polygon Network to earn daily rewards in The Sandbox (SAND) tokens. All currently staked LAND NFTs will be automatically unstaked on September 27, 2023, and returned to users’ respective Binance accounts after September 28, 2023, at 02:00 UTC. The final distribution of daily SAND rewards will also be credited to users’ Spot wallets automatically after this date and time.
The Binance team extends their apologies for any inconvenience this may cause and encourages users with inquiries to reach out to their Customer Support team.
Important Update: Binance NFT Marketplace will be discounting The Sandbox NFT Staking Program and remove Polygon Network with effect from 2023-09-26 06:00 (UTC).
Read more ➡️ https://t.co/rnk78i0rTw
— Binance NFT (@TheBinanceNFT) September 8, 2023
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.