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Binance NFT added Polygon network support to its marketplace

Binance NFT, a branch of the cryptocurrency exchange Binance that deals with nonfungible tokens (NFTs), now works with the Polygon network’s blockchain.

The press release says that this will make it possible for the Binance community to grow its NFT ecosystem. Because of the new connection, users of the Binance NFT marketplace can now use their Binance accounts to trade NFTs on other blockchains, such as Ethereum, BNB Smart Chain, and Polygon.

At the moment, the Binance NFT Marketplace only has a small number of the Polygon network’s ERC-721 NFT Collections. Binance NFT will be getting new NFT collections all the time.

Bicasso, Binance’s AI-powered NFT generator

On January 19, the NFT platform said that any NFT with a daily trading volume of less than $1,000 would be taken off the platform. The exchange also set rules about how many NFTs artists can make every day. Binance also said that it will review NFT listings on a regular basis and suggest taking off any that don’t meet its standards.

Binance is also looking into AI, which is becoming more common in the Web3 world. Changpeng Zhao, the CEO of Binance, said on March 2 that the company’s AI-powered NFT generator, called Bicasso, had started up and made 10,000 NFTs in 2.5 hours.

The first success of the AI tool was quickly overshadowed by a scandal. The winner of the BNB Chain hackathon said that Binance stole and copied their project, Chatcasso, the day after Bicasso came out. This back-and-forth showed that the charges were false and showed how NFTs are similar to AI. Cointelegraph was told by a Binance employee that Bicasso was made on its own more than two weeks before the hackathon.

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About MahKa

MahKa loves exploring the decentralized world. She writes about NFTs, the metaverse, Web3 and similar topics.

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