Binance NFT marketplace announced the integration of the popular layer-2 scaling network Polygon (Matic).
Binance NFT is an averagely popular NFTs trade platform, a subsidiary of top-ranked crypto exchange Binance. This NFTs trade platform was launched in mid of 2021. Around a month ago, Binance introduced strict rules on the NFTs traders like mandatory KYC verification and at least two followers on the NFT platform to mint new NFTs. Earlier today, Binance NFT was supporting only BNB Smart Chain (BSC) & Ethereum (ETH).
On 8 March 2023, Binance NFT announced Polygon network integration in its platform, so that Binance NFT traders can use Polygon network-based NFTs.
As we know that Polygon is a Proof-of-stake (PoS) consensus-based blockchain and is popularly known to provide fast transactions at low fees. So here Binance NFT traders will get better ease to trade NFT on this layer-2 scaling network.
Polygon support on the BinanceNFT is still in the early phase and only a few numbers of NFTs collectibles are available to trade on BinanceNFT.
Polygon crypto project jumped into the crypto industry in 2017 and over the last few years, the backed team behind this project showed a significant influence in the crypto sector. To this date, Polygon is focused on development works related to Web3, NFTs, Metaverse, blockchain gaming and also zero knowledge (ZK-SNARK) based KYC verification system under a decentralized media.
Matic coin
Matic is a native coin of the Polygon network and the current trade price of Matic coin is $1.07 & this trade price is 6.34% down as a part of the usual panic in the market.
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