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Binance NFT marketplace to delist “substandard” NFTs

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Binance NFT marketplace has pledged to take down substandard NFTs on its marketplace. The marketplace announced the development in its Friday Twitter post. As announced, it intends to remove every NFT collection that fails to meet up with specific high-level standards.

Notably, the NFT marketplace said the development is necessary to ensure the safety of users. It further reiterates its commitment to ensuring a periodical review of NFT collections listed on its network to ensure that they meet the required standards. According to Binance NFT marketplace, the development is expected to take effect as from 23:59(UTC) on 2022-12-20.

Further, Binance NFT marketplace, in its blog post, listed some of the NFTs to be removed from its marketplace. Notably, users are allowed to trade, deposit, withdraw and list the mentioned NFTs till 2022-12-20 23:59 (UTC) deadline. In addition, the marketplace plans to return all NFTs taken down to users’ accounts under profile of collected NFTs. It intends to pause deposits for affected NFTs after the deadline. However, withdrawals for these NFTs will remain open. Meanwhile, the marketplace urges users to report NFTs and NFT collections that violates its minting rules and term of service standard.

Integration of Opensea NFTs by Binance NFT marketplace

This development by Binance NFT marketplace comes a few weeks after it integrated Opensea NFTs. The integration, as announced manifested as part of the first phase of upgrades on its marketplace. Binance feels the integration tends to enable users explore non-fungible tokens from multiple blockchains and marketplace. Also, the exchange revealed the upgrade includes majority of Opensea top 200 NFT collection. According to Binance, the tokens runs on the ERC-721 standard.

Then, Binance described the integration of the NFT as a great landmark for its marketplace. As revealed, the exchange strives to become the go-to platform for all NFTs. Binance further revealed its interest in integrating more marketplaces and NFTs in the future. In addition, the exchange plans to continuously improve and expand its digital asset offerings.

Recently, Binance also instilled upgraded metrics and data visualization into its NFT marketplace. As reported, this metrics became incorporated into NFT collections and individual NFT pages for enhanced price analysis. Worth noting that the NFT marketplace also integrated the data of the Opensea marketplace into leaderboards on the stats page. In addition, it incorporated UI and UX optimizations for various features. This features includes the homepage, marketplace main menu, among others.

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