Key Takeaways:
- Binance NFT ends The Sandbox NFT Staking Program and support for Polygon Network, effective from 26 September 2023.
- LAND NFT staking on Binance NFT Marketplace and daily SAND rewards will cease, with automatic unstacking on 27 September 2023.
- Users advised to withdraw NFTs via Polygon Network by 31 December 2023 as Binance streamlines its offerings.
Binance NFT has announced that it will discontinue The Sandbox NFT Staking Program and support for Polygon Network. The decision has been disclosed in the notion of streamlining product offerings on the Binance NFT marketplace.
The Decision
The decision will be effective from 26 September 2023, and users will no longer be able to stake LAND NFTs hosted on Polygon Network on Binance NFT Marketplace. Moreover, they will no longer be able to earn the daily Sandbox (SAND) rewards either. Furthermore, All LAND NFTs that are currently staked on the Binance NFT marketplace will be automatically unstacked on 27 September 2023 and returned to users of Binance after 28 September 2023. The last daily SAND rewards will also be distributed to users’ Spot wallets after 28 September 2023.
It is imperative here for users to remember that Binance NFT will also be removing support for Polygon Network on 26 September 2023. Users have been advised to withdraw their NFTs through Polygon Network from Binance NFT Marketplace by 31 December 2023. All in all, the update is sudden and shocking for some, but Binance is continuing its emphasis on the fact that it is a part of its streamlining process. Let’s see how this unfolds.
Source
