Binance Adds Support for Polygon-based NFTs
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March 8, 2023

Binance NFT, a marketplace for non-fungible tokens, is now supporting digital collectibles built atop the Polygon sidechain, the exchange wrote in a press release.

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With the addition, users can now buy, deposit or withdraw NFTs from the Polygon ecosystem. To buy or withdraw NFTs based on the Polygon network, users would need a native token MATIC to cover fees. However, Binance noted only selected ERC-721 NFT collections on the Polygon network are available on the Binance NFT Marketplace.

Besides Polygon, Binance NFT also supports tokens on Ethereum and BNB Smart Chain. The exchange says the integration of Polygon network "further elevates Binance NFT to a multi-chain, open marketplace ecosystem."

Amazon Set to Launch its NFT Platform in April

Meanwhile, Mike Novogratz's venture firm Galaxy Digital sees a bright future for NFTs built atop the Bitcoin blockchain. The New York-based firm forecasts the market size of Bitcoin-based NFTs even in "base case" to hit $4.5 billion by 2025.

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