Binance has announced that its NFT marketplace will withdraw support for The Sandbox NFT Staking Program and Polygon Network effective September 26, 2023. This is being done after thorough evaluation and consideration. The goal of Binance NFT is to offer its customers an offering that has been streamlined and crafted for them. All the rewards and NFTs will be automatically stopped as of the said date. Staked portions, if any, will be returned to the users on the following dates.
Binance NFT has a practice of reviewing and evaluating its offerings periodically. It removes or adds partners based on a lot of factors. The major consideration is streamlining the offering line-up.
On September 26, 2023, Binance will begin locking the listing. It will be followed by a return period and an unstaking mechanism. Specifically, Binance NFT will stop supporting The Sandbox Staking Program on September 26, 2023, at 6:00 UTC. These pertain to holdings that are hosted on the Polygon Network.
LAND NFTs staked on the network will be unstaked on September 27, 2023. These will be returned to the Binance accounts of the users. SAND rewards will be distributed after September 29, 2023. To reiterate, the entire process will happen automatically. Differences, if any, can be resolved by getting in touch with the support team at Binance NFT.
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Polygon Network will lose support from Binance on September 26, 2023, at 6:00 UTC. Users are recommended to withdraw their digital tokens from the network maximum by the end of this month. Impacted users can get in touch with the support team. Binance is likely to connect with them after withdrawing support.
Users cannot buy and sell their NFTs on Polygon Network after the said date. Listings that have been affected by this action will be canceled on September 26, 2023, at 6:00 UTC.
The NFT withdrawal process on Binance is pretty smooth. Users are required to complete ID verification before initiating the withdrawal process. Once completed, they must navigate to Binance NFT and log in to their respective accounts. Move to the Profile section and choose Withdraw.
Proceed to withdraw an NFT or a mystery box. Having explained that, Binance is one of the most reputed crypto ventures across the globe. It has an average daily volume of $65 billion and is backed by 24/7 customer support. Its product offerings include Binance Exchange, Binance Labs, Binance Academy, Binance Research, and Binance NFT.
The development follows Binance’s integration of Ethereum on the zkSync Era Network. Users now have access to deposit and withdrawal functionalities. Deposits may take up to 24 hours to reflect in the Binance account due to the finality mechanics of the zkSync Era. The announcement dates back to September 7, 2023.
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Circling back to The Sandbox NFT Staking Program and the Polygon Network, Binance NFT will stop supporting the services effective September 26, 2023. What follows next will be an automatic process for unstaking and returning.
