Binance to Withdraw Polygon and The Sandbox LAND NFTs

In a bold effort to streamline its product offerings, the Binance NFT Marketplace has revealed that it will no longer be selling or listing Polygon NFTs as of September 26. Users have until this year’s end to safeguard their collectibles through withdrawals.

Additionally, taking effect on the same date and time, the NFT marketplace will discontinue its ‘The Sandbox NFT Staking Program’. Therefore, users will no longer be able to stake LAND NFTs via the Polygon blockchain to earn daily rewards to earn $SAND tokens. All LAND NFTs currently staked will automatically be unstaked the following day, on September 27, and returned to users’ Binance accounts on September 28, alongside a final batch of SAND rewards — in a diplomatic move to keep The Sandbox venturers sweet.

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

Binance Rumors Amid Polygon NFT Halt 

The timing of Binance’s Twitter announcement — discussing the blockchain’s departure — coincides with the platform’s CEO, Changepeng Zhao, confronting rumors on the social media hub. The whispers surrounding Binance include “fake news” regarding “bank runs, lawsuits, the closing of fiat channels, product wind-downs, employee turnover, exit markets, etc.” 

Nonetheless, Zhao stated that the exchange stands strong, saying there are “no liquidity issues. All withdrawals (and deposits) are properly handled. All customer funds are #SAFU, and 100% reserved.” Also enclosed in this message, he reveals that Binance has been handling a “smooth sunsetting of old products”, whereby Polygon appears to have fallen victim. 

Saw some debates in the community. When you do the right thing, and there is FUD, you don’t have to do anything. The community defends you.

Let me summarize. There have been a lot of negative news/rumors, bank runs, lawsuits, closing of fiat channels, product wind downs,…

— CZ 🔶 Binance (@cz_binance) September 7, 2023